StratupAI Generated Idea: AI-Powered Quality Assurance Platform for Manufacturing

June 07, 2024

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Estimated read time: 2-4 minutes

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News

1) Startup and IBM Partner for ‘quantum-centric supercomputing’ (SiftedEU)

According to the SiftedEU article, the startup, Pasqal, has raised $140M since 2019.

2) A new startup program by Google to connect AI and public infrastructure (TechCrunch)

The Google page for the program states, “Google for Startups AI Academy: American Infrastructure is a three-month program designed to support high-potential startups leveraging AI to improve public works and foundational systems across the US. While the majority of the program will take place virtually, founders will have the opportunity to connect during one in-person event.”

Example industries referenced are “Agriculture, Broadband Energy, Healthcare, Public safety, Smart cities, Smart manufacturing and logistics, Transportation, Water management, Workforce development.”

An excerpt from the book Smart Startups for people choosing an industry

Many people looking to build a startup are drawn to the current ‘high growth industries’. The news cycle will focus on these. The book Smart Startups, touches on this, and recognizes that “if an industry is already experiencing high growth, you might be late to the table to benefit from that growth.”

Small industries can experience high growth for some time and not be close to maturity, of course.

Resources

2) Waitlist as service idea - X (For this, if you don’t plan on personally working on the startup but rather selling the waitlist as a service, what is very important is vetting the buyer)

“An innovative startup idea involves developing an AI-powered quality assurance platform tailored to manufacturers, using computer vision and machine learning algorithms to automate and enhance defect detection and quality inspection. This platform could analyze production line data in real-time, identify defects or anomalies, and provide actionable insights to improve product quality and reduce waste.”

Disclaimer: The startup ideas shared in this forum are offered for general information and educational purposes only, and are non-rigorously curated via the Stratup.ai generator. Individuals utilizing these concepts are encouraged to exercise independent judgment and undertake due diligence per legal and regulatory requirements.

An additional thought, relating to business biographies, case studies, etc., is the mistake of not accounting for survivorship bias. This is written about in Nassim Taleb’s book, Fooled by Randomness.

As a thought experiment, he considers, even if in this reality, at this time, a certain individual, venture, or business was successful, you must consider the distribution of alternative realities (alternative because of randomness/probability). In other words, it may be better to study the person with a $10M net worth that had a 50% chance of being that successful, than a person with a $50M net worth that had a 1% of being that successful.

When laid out like this it may be considered common sense, but survivorship bias can make this unclear.

That's it for today, thanks for reading. See you on Tuesday. Please let us know your thoughts on this edition by clicking the poll below. Your feedback is appreciated.

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The startup ideas, strategies, and suggestions shared in this forum are provided for general discussion and informational purposes only. Any individual or entity considering implementing these concepts should exercise independent judgment and conduct thorough due diligence in accordance with legal, regulatory, and industry-specific requirements. Startup Strategist does not guarantee the accuracy, completeness, or suitability of any information shared. It is recommended to consult with legal, financial, and other relevant professionals before proceeding with any business ventures or decisions.