The year 2018 started on a promising note for entrepreneurs, startup founders, and innovators. They were the ones who took the legacy forward and made incredible things happen in business and technology, until this year. Predictors estimated that by this time next year, we would see implementation of technologies like AI, IoT, Blockchain and Mixed Reality on a wider scale across different industries and verticals. The enthusiasm in the startup industry was high as we entered 2018 and technologies that were making news last year were trending. Some of them grabbed the attention of forecasters and they are expected to play a significant role in shaping up startup business models in the year ahead.
Something that was just imagination in books as mere theory has witnessed serious implementations in various business applications – it was AI – acronym of Artificial Intelligence. Since its evolution, AI is continuously pushing the limits of science and technology. Startups involved in creating innovative solutions that are revolutionizing businesses are now able to resolve real-world business challenges effectively.
Mixed Reality (MR)
A couple of years back, Virtual Reality (VR) made headlines in taking user experience to next level, then came the Augmented Reality (AR) that gave Pokemon like adventure right on the hands of users. Since the birth of Mixed Reality (MR) – an amalgamation of VR that that places users in digitally-rendered environments and AR that superimposes digital information on the real world are developing at a fast pace. According to technology giants, Mixed Reality (MR), which incorporates and broadens both AR and VR, will spearhead the next generation of the experience technology for everyone.
Internet of Things (IoT)
The day Internet of Things (IoT) showed its mightiness to the world in doing things that were only possible on sci-fi movies; technology enthusiasts embraced it as a technology of the century. This allowed startups to move towards developing smarter solutions that can work in-sync with human behavior. Its implantation brought convenience and helped in saving human effort, energy consumption and sustainable living. As businesses adapt to digitalization, the need for more innovative ways for companies to deliver their products and services is going to witness a huge leap this year and in the future.
Another marvel of technology that gained hype in 2018 is the Blockchain technology. Businesses have discovered the value of Blockchain to share, distribute, de-centralize, and tokenize ledger data independent of individual applications or participants. The initial phase has seen startups involved in financial products and services leveraging the platform to create disruptive and innovative business solutions. The next leap is anticipated to be huge, wherein industries like healthcare, logistics, supply chain, and ecommerce will benefit immensely while embracing Blockchain technology.
As we are midway to 2018, startups have shown how they grasp and grab technological opportunities to counter business challenges, make lives easier for people, adapt to changes, and develop solutions out of it according to the needs. If you have an idea, need a scalable technology to put your idea into action and the support of industry leaders, let us meet in the Netsmartz lounge for a cup of coffee or a beer.