So, the whole world is wondering… What are the future trends in tech? Is the startup you’re building going to disrupt today’s conventionalities and change the world as we know it? Will you get invested because you’re a visionaire or will you fail because you couldn’t keep up with the new trends?
Truth is, very few people can answer these questions for you. But, there’s something we can do to help.
During the past few years at Beta-i, we’ve been working closely with startups and innovation so, we know a thing or two on this matter. We’ve been reading carefully several articles and reports, we’ve interviewed many startup founders, talked to investors and VCs and did our own research to find out what are the future trends in tech. In the end, it all comes down to betting in the right industry and providing a solution for a large market. If you’re wondering where to place your bets, check out this out:
1. Big Data / Machine Learning
We’ve said it before. Big data and machine learning are definitely worth betting in. According to the American VC, Andreessen Horowitz, “machine learning is to big data as human learning is to life experience: We interpolate and extrapolate from past experiences to deal with unfamiliar situations.” Therefore, machine learning can duplicate this behaviour at massive scales. It can help predict behaviours and change the way we do business. For example, imagine that you’ve built a platform for sports to help people keep track of their progress. In a year, you’ll have large amounts of data that you can use to predict the behaviour of your users. So, in the end you can improve your product and let the machine learn the patterns in the data and get you more insights.
2. Digital Health
Every day we see more and more solutions built for the healthcare industry. Why? Because we need technology to make it more efficient and accurate. Imagine if you could get a diagnosis through a mobile app? Well, it will most likely happen in the future. Again, the healthcare industry can work with big data and machine learning to change the future of healthcare and literally save lives. You can work with hospitals, doctors, patients, insurance companies and many others. There’s countless opportunities in this industry and you should watch it closely.
3. Security
We all worry about the private data stored in the cloud and on our mobile phones, right? Well, now imagine how companies worry about that too. The fear of being hacked is constant so the need for protection emerges. How can you stop a hacker from breaching in and how can stop a hacker that already breached in? Well, here’s a clear opportunity for those who are willing to do something in security.
4. Insurance
Insurance is all about risk. And, during the past few years, new technologies have been able to change the way insurance companies price risk. You have several gadgets and mobile apps to help insurance companies understand that certain customers should definitely pay less, because they drive carefully in safe neighbourhoods, while others should pay more, because they drive recklessly in dangerous roads. Another important thing is that insurance companies can nowadays interact in the different way with their customers and provide better solutions. Imagine if your car insurance company can guide you through safer roads and prevent accidents, or your home insurance company could detect water on the floor and call for a plumber. It’s a win win situation: insurance companies end up providing a better service to customers, and they also decrease their costs because they prevent more accidents and damages. And if you’re building a solution that can be used by insurance companies, from big data to Internet of Things, we should definitely talk…
5. Internet of Things
Internet of Things is fun. Imagine if your fridge could tell you that you were running out of milk and send you a push notification when you’re on your way home so that you have time to drop by the supermarket before heading back home? Wouldn’t that be cool? Well, this is the Internet of Things. You can find many other examples like this. LoT is definitely growing and we’ve seen it across many of our startup programs.
Hopefully, narrowing down the future trends will help get on the right track and realise there are many opportunities out there. If you’re into any of these areas, let us know, we might be able to help by providing you the right mentorship, skills, tools and help you reach top clients in the insurance industry for example. Applications for our accelerator, Deloitte Digital Disruptors, are open until October the 7th.
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