Over the past few years, Technology Entrepreneurship has emerged as an area of research at the contact point of Entrepreneurship and the Management of Technology and Innovation. Technology is the answer to enhance the potency of not just the employees but the overall system and adds the essential value to its results also. Integrating the ever-growing features of technology into business in the only way it can sustain in the long run. It remains critical in terms of both cost and efficiency.
When it comes to tech Entrepreneurship, there is a lot for developing countries to learn and adapt. I would say this is the best time to start a tech-based business in a country like India. Irrespective of the capacity of a company, corporations are adopting technology with open hearts, particularly in a market like India where the tech-based skill set has always been significant and financially stabler. Government’s approach to promoting the startups has advanced the scope of tech businesses in the country.
The evolution of new tech trends is one thing that is both inspiring and frustrating to businesses at the same time.
When we talk about customer trends there is a definite increase in the “right now” mentality. That implies opportunities for faster delivery, paying without taking out your wallet, and automated but personalized marketing would be the trend.
As we saw the past few weeks both Google and Facebook put their core focus on both of their developer conferences held in consecutive weeks. When the tech giants are actively focusing on something, it means that the consumers are driving it. The discussions are changing towards how customer information is collected and what it’s used for, in addition to how to safeguard it.
There is a lot to discuss when it comes to technology trends. Each one is a vast area of study which we’ll discuss in future articles. For now, we’ll focus on the Key opportunity areas where businesses can step in and grow towards a better future.
- Blockchain technology became a thing in 2018, it operated the bitcoins. Bitcoins are out of trend now, but the technology is not. Amazon and Microsoft have already launched products based on the tech!
- the voice control technology is starting to get the attention it deserves, from Google search, Alexa and google assistant, it has made its way into smart homes. We can expect to see it in more business applications in the future.
- 2018 was about virtual and Augmented reality, 2019 is all about Immersive experience! Imagine exploring the depths of the ocean while sitting inside a classroom.
- AI is no longer just for huge firms with stacks of money. AI has already reached our pockets and we will see more of it.
- Edge computing is where your input is processed near the edge of your network rather than in a centralized data-processing warehouse. It’s an amenable, scalable way to present real-time bounded data analysis.
According to International Data Corporation (IDC) By 2021, half of our predicted global GDP will appear from tech-enabled and digitally improved business paradigms. So, Keep your business model evolving!
Tech education can give us tech leaders we need
Despite some solicitudes recently about the global influence of the leaders of tech companies, I sincerely believe that the origins of tech entrepreneurship can foster the kind of leaders our world wants, in any domain.
Netflix meddled the show business by defying existing business models and emphasizing fast on its model; Tesla accomplished to generate more significance than any other automotive company in a comparably short time by adhering to the principals of tech entrepreneurship its founder practiced. These companies won their domains and established a market for themselves, its that kind of advantage technology offers you to create, innovate and grow!