In the last 100 years, technology has advanced so rapidly that outdated is a word that every startup founder has to fear. In the startup world, industries change rapidly and many enterprises die. This is not new. However, one can still stay relevant by operating in upcoming areas. Here are 6 emerging technologies that entrepreneurs have to look out for in 2018:
Artificial intelligence: Intelligence presented by machines, unlike human intelligence. Machine mimicking the cognizance of a human mind is AI in the idiomatic sense. As machines have become increasingly capable, AI has moved into a home and workplace activities as well from helping us with mailing to personalized shopping experiences. We presently have AI journalists, stock traders, and even autonomous cars.
No. of Indian Startups: 200+
Internet of Things (IoT): It is the concept of everyday objects which brings together mobility, automation and data to create a network of devices. IoT is a nonstandard computing technology that connects wirelessly to a network and has the ability to transmit data. It is the future of technology that can make our lives more efficient. Amazon’s Alexa is one top-notch example of the applications of IoT.
No. of Indian Startups: 220+
Augmented Reality/ Virtual Reality (AR/VR): It is the enhanced version of reality where direct or indirect views of a real-world environment are augmented with superimposed computer-generated images thus enhancing one’s current perception of reality. Ever tried an AR/VR headset on?
No. of Indian Startups: 80+
Blockchain: It is a list of records secured in an encrypted form using cypher systems. It is a decentralised and distributed digital ledger that is used to record transactions across many computers so that the records cannot be altered. The all famous bitcoin is based on this technology. However, blockchain has innumerable use cases that can change the way industries work.
No. of Indian Startups: 20+
Financial Technology (Fintech): Speak about technological innovation in financial services. It aims at competing with the traditional financing methods. It has been used to automate insurance, trading and risk management and now the way Indians transact on a day to day basis. Paytm karo!
No. of Indian Startups: 360+
Clean Technology (Cleantech): Any technology that makes the earth a better place to live in. We are running out of fossil fuels and it has become imperative to move to alternative energy systems. Take Tesla or SolarCity for example.
No. of Indian Startups: 25+
Which area are you planning to startup in? It is to be noted that one need not necessarily startup in the above areas but can also leverage on the technologies to build better business processes. Do any of the technologies above align with your company’s vision?