Entrepreneurs are always looking for opportunities to expand their market share by making innovative changes in their products/offerings, not just to gain profit but also to survive in the competitive age of the technology. The best thing that differentiates entrepreneurs from Businessman is that rather than getting disturbed by upcoming products, they are known to have disturbed the entire market by their products.
Here are some technological trends to watch for in 2017 -
Artificial Intelligence (AI Technology)
AI is making great advancements and with the coming up of machines and deep learning, the day is not far when we see that machines will be more efficient way of working than humans. More of the human work will be taken over by machines this year.
Bots/Chat Apps with EQ (Emotional Quotient)
This year will see bots being programmed with reactions into their interface. A bot can provide two types of solution - one based on Factual data and analytics - which may be very accurate. The second is based on understanding the user, and his mental (emotional) state and this is the technology upcoming for Costumers Relation Management (CRM).
Machines are considered to reduce work but technology has given rise to smart machines which work on basis of information available on the internet. This year will see a rise in the use of internet based sensors with predictive capabilities, making machines smarter.
AR and VR
In 2016, Pokemon Go showcased the augmented reality to the world. This year we can expect more commercial use of the upcoming technology. Also, VR is expected to be used beyond games this year.
Digital Payments/ BlockChains
With Demonetization hitting the country, India saw a rise in Digital Payments and the government made numerous efforts to support the Digitization in Financial Transactions by the citizen. Bitcoins have potential to take over transactions, financial and otherwise. Will it go mainstream in 2017?
Automation is taking over human work and will soon take over a large sector of manufacturing and production. In times where quality matters more than quantity, robots are coming up as more efficient and speedy.
The World is aware of projects of TESLA and Google and self-driven cars can become a reality by the end of 2017. The concept seems to be scary but according to Elon Musk, it will be safer on the road to drive on a self-driving car. Of course, the technology will create new advancements in the automobile industry with new businesses coming up.
Advancements in Artificial Intelligence and computing also has a darker side - the rise of hackers and thus, it can create a niche market in the tech world to stop them.
Which of these technologies interest you and which of these you will make use of in 2017? If you are an entrepreneur, make sure you sit and take a close look at how these technologies will help you advance your business.