The Forbes AI 50 list highlights the most promising private companies in the U.S. and Canada using artificial intelligence in meaningful ways and demonstrating real business potential from doing so. They span industries including construction, manufacturing, healthcare, business and customer services, transportation, cybersecurity, finance and maritime logistics.
Finalists were culled through a submission process that asked approximately 700 companies to provide details on their use of AI-enabled technology, business model, customers and financials including fundraising, valuation and revenue history (companies had the option to submit information confidentially, to encourage greater transparency). Forbes received nearly 400 submissions by the deadline.
From there, Konstantine Buhler and our data partner Sequoia Capital, with assistance from Meritech Capital, crunched the numbers and ranked companies based on metrics such as revenue gains, customer statistics, historical funding and valuation. A panel of expert AI judges evaluated 100 finalists to find the 50 most compelling companies. (They were precluded from judging applicants in which they might have a vested interest.) In addition to identifying companies that show traction and financial promise, the list is on the lookout for companies finding novel uses for AI and that prioritize diverse teams. That’s crucial as problems arise in the absence of diversity.