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Roosh’s partner Sergey Kartashov tells why AI and ML startups attract investment

The IT industry has affected every aspect of human beings by providing practical and helpful products and services. They represent an integration of artificial intelligence, machine learning, and neural networks tailored by IT experts all over the world. Ukraine is not beyond success. It reveals its potential in skilled IT developers and promising projects globally used. Sergey Kartashov (Sergejs Kartasovs), the Senior Partner at technology company Roosh, shared the AI and ML development in the  Ukrainian IT industry.

Things theoretically studied earlier have become a center of multiple attractions from specialists in almost every field. And it is about Artificial Intelligence and Machine Learning technologies that are implemented in every aspect of human life. And more frequently, they are utilized in promoting financial structures, analytics, computer games and mobile apps, and even medicine.

Sergey Kartashov gives an example about the activity of Chinese doctors during the difficult time of the coronavirus pandemic. They could develop an AI-based system that allows them to keep track of how the population follows the quarantine restrictions settled. In addition, IT specialists in China are currently designing services that enable diagnosing various. ML technologies underlie the new medical solution.

When it comes to the business sector, plenty of investors and entrepreneurs have become increasingly interested in these technologies. Such interest has brought a global appeal and growth of IT startups. Sergey Kartashov notices that in 2020 that around 40% of the total investment in the IT industry was spent on AI projects. Mostly, investors used to invest in education, medicine, and drone development.

Turning the IT topic to Ukraine, the businessman states that AI and ML development is progressing less intensively in comparison with Western countries. However, nowadays, Ukrainian technology companies are capable of delivering high-tech products on AI, and a lot of them have been promoted over the last decade.  Sergey Kartashovmentions some of them: the text checking program, the hi-tech solution by Grammarly,  the scoring system for financial institutions Scorto, and the technology for recognizing objects and faces on images developed in Viewdle. The latter was acquired by Google Inc later and used in its search engine.

The Roosh company has many projects in store. The Reface mobile app is one of the most remarkable IT solutions. Its service allows changing faces in videos and GIFs. In the future, this app can offer an opportunity for a user to watch movies or TV shows with themselves as the main figures. The success of Reface impresses a lot. It took the top rank of apps in the App Store. This innovative product had even upstaged TikTok, YouTube, and Netflix apps last fall.

Sergey Kartashov believes that the future of IT is already here. Many pieces of evidence disclose the demand and necessity of AI and ML in everyone’s life. The Senior Partner at Roosh names some of them: robotic vacuum cleaners, fingerprint scanners in mobile devices, programs for translating and correcting texts, and automatic face recognition in social networks. It is not going to end. Ukraine has all potential to succeed in AI and ML development and reach its global recognition.