What Is The Future Of Tech Start-ups?
Technology has been shaping our lives for the past several years and we have been started to see how the tech start-up scene is evolving. New offerings and services are created every day, in order to answer consumer needs, as a way of improving the way we live. Entrepreneurs who are aware of this, develop start-ups that aim to address all of our requirements as human beings. However, our needs evolve, as does technology. This means that organisations tend to adapt their new technologies based on the necessities that might arise.
According to Drishti Lawani, Project Consultant at Stelfox, there are numerous ways in which technology like Artificial Intelligence is being used, for example, within the healthcare sector to facilitate the advancement in research for cancer and chronic illnesses. ”There have been great strides to develop next-generation Radiology Machines using AI, these machines will facilitate Virtual Biopsies to enable more comprehensive patient care.”
By anticipating our needs, start-ups are already working on the technologies that will meet our expectations. However, what are the technologies that will impact our future? According to TechCrunch, some technologies may create the new market leaders of the future and there’s still a lot of space for new ideas to grow.
Top 5 Markets for Future Tech Start-ups
With the constant change in the world and new technologies approaching, start-ups of the future may focus on relevant industries. Deloitte released a report that includes the 5 tech markets that have space for growth: Cloud computing, flexible consumption, cognitive computing, User-friendly tools, APIs, and apps and data.
1. Cloud Computing
This market has already been allowing companies to change or even innovate their operations and business models. By using software, we’ll be able to witness a development in artificial intelligence and IoT solutions.
2. Flexible Consumption
When thinking about flexible consumption, it’s plain to see that the ‘’pay as you go’’ models have also been gaining traction. since consumers are looking for fast and simple solutions when they’re purchasing. This will also improve the relationship that consumers have with the final product or service because the ‘’as a service’’’ consumption has started to become more valuable for most users.
3. Cognitive Computing
Cognitive computing is another industry that might grow, but so far it’s not being used by many companies. However, organisations that recognise its importance, have been using it to enhance products and services, as well as to improve and consolidate r decisions regarding their operations. One example is that the companies who have started using cognitive computing through machine learning can find patterns and anomalies in large groups of data.
4. User-friendly tools, APIs and Apps
Another industry that is already growing relates to user-friendly tools, APIs, and apps. Start-ups that create user-friendly technology have enormous scope to evolve. Now, more than ever, users are demanding technologies that are simple to use and allow them to be autonomous.
Last, but not least, with so much information coming from several places, companies have started to require software and systems that allow them to gather all the data they can, automatically. They require tools that will be able to connect disparate data and to extract the business insights they need in order to improve their offerings.
We believe that start-ups that focus on the technologies mentioned will be able to address the issues that consumers and companies are currently facing. The competitive advantage available to these start-ups is bigger than imagined so when working in any of these, start working hard on your strategy so that your start-up can ‘’stay ahead of the game.’’