Empath Well Positioned To Reap Rewards in $33.9B Emotion Detection AI Market By 2023

Empath Well Positioned To Reap Rewards in $33.9B Emotion Detection AI Market By 2023

VentureBeat’s Kyle Wiggers Believes Japan’s Empath Well Positioned To Reap Rewards in $33.9B Emotion Detection AI Market By 2023

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A relatively new entrant in the emotion detection segment is Empath, a Toyko-based startup founded in 2017. Using algorithms trained on tens of thousands of voice samples by Japanese health tech Smartmedical Corp., its staff of roughly 20 people pioneered a platform dubbed Emotion AI. It’s able to automatically detect one of four emotions — joy, anger, calmness, and sorrow — from real-time speech in any language in high-noise environments, in addition to characteristics such as pitch, tone, speed, and “power” (valence).

I spoke briefly with company representatives at IFA, who asserted that Empath’s advantage over rivals is twofold. The company’s partner roster — which now numbers north of 500, and includes brands like NTT Docomo, Fujitsu, Philips, Lixil, TMJ, Persol, and Marubeni Information — supplies it with high-quality data with which to retrain its algorithms. And because it’s chosen to hone in on a relatively narrow slice of emotions, Empath’s able to achieve higher baseline levels of accuracy and precision.

Whatever Empath’s next move, it’s likely to be a lucrative one. Allied Market Research pegs the market’s worth in 2023 at a whopping $33.9 billion globally, driven by the surging popularity of wearables, internet of things devices, and smartphones.

Image Credit: Empath