Building a sustainable startup with operational excellence as well as the ability to scale and obtain market share have become key. However, this process is often riddled with challenges. In order to attain the scalability, entrepreneurs now are now making a paradigm shift towards technology — an aspect reserved for large companies scaling high on investor money.
Some of the fastest growing and highly valued tech startups been founded by non-tech founders and tasted phenomenal success. This trend will only continue to flourish and create innumerable opportunities for innovators out there with an idea. With deep technology trends such as artificial intelligence, blockchain and machine learning all set to gain ground in 2018, use of emerging technologies services could be the single most important differentiator for a potential market leader.
Here are Technology Trends for Startups
Small business owners and entrepreneurs are excited about automation technology and believe it will have a positive impact on their business. One field that is witnessing a major change due to Artificial intelligence is customer service. Chatbots use enterprise AI to completely revamp customer support, allowing startups to increase access to information and increase dialogue between customers and sales staff.
The future will witness the growing dominance of technologies like Virtual Reality (VR) is Virtual reality (VR) is an artificial environment to create an immersive experience and uses a computer-generated alternative that transports users to a whole new world often exceeding the limits of the physical world.
Augmented Reality (AR) puts virtual objects into real-world environment, bringing images to life. Pokemon Go is one of the most popular examples of Augmented reality app. Mixed Reality (MR), which includes both AR and VR will become the experience of choice for startups. These emerging technologies will blur the difference existing between the real and digital worlds.
Enterprise mobility and business applications will now be a business reality playing an integral role in providing better productivity and increased security. Several companies of different sizes are using mobile apps to increase engagement with customers. Mobility solutions often result in improving productivity and streamlining processes. The year 2018 will witness a wider scale adoption of business applications, and this will be an opportunity for a lot of startups to create take a leap and compete with big players in the market.
The recent new buzzword blockchain is now getting into the mainstream with widespread adoption. Blockchain is an open and transparent method. It is a decentralized distributed ledger that can record transactions in a verifiable manner which takes place between two parties. This emerging technology will assist fintech startups to scale new heights in order to provide disruptive solutions.
On-demand services include all digitally driven marketplaces providing useful and easy access to goods and services. The possibilities again are enormous when it comes to building a startup to capitalize on this opportunity. Businesses are beginning to see the benefits of tapping into services whenever needed in order to obtain better pricing and service in the process. Companies are already using on-demand shipping, taxi hailing, equipment rental, catering and more.
In a nutshell, these are few technology trends or areas of growth potential that will help startups grow and expand business. These areas show a lot of promise and can provide quick revenues if entrepreneurs understand their value and frame a strategy quickly.