Four Technologies Startups Are Investing in Now
Disruptive technologies often trigger paradigm shifts in the business world. New-age technologies play a key role in organizations that look for innovative solutions to the new digital age challenges. Moreover, small businesses, as well as the budding startups, benefit from solutions that are driven by technology and gain a foothold amidst high competition. The influence of Virtual Reality, Augmented Reality, cloud computing, blockchain, and Artificial Intelligence on startups is undoubtedly big and plays a pivotal role in the expansion of these businesses too. Customers, nowadays, are digital-savvy and ask for unique solutions for their pains and problems. So, what are those four technologies that startups are investing in? Find it out here.
As the market gets challenging for startups to operate and survive in the global market, they have started investing in cloud computing. The technology is gaining popularity as one of the most convenient platforms for operating business. The cloud assures information security, seamless connectivity, and much more which makes it the preferred choice for small businesses to expand their operations across the globe.
The operational efficiency of cloud computing for products and services offered by these small startups is a key influencer in this decision. Operational infrastructures that are mainly based on the services provided by the cloud help the startups save investments to set up offices at various locations around the world, aside from eliminating headcounts, and pumping the offerings as well.
Augmented Reality And Virtual Reality
Augmented Reality and Virtual Reality technologies have revolutionized business. These technologies have impacted various aspects of the business including a reduced overhead expense and accentuating internal productivity. VR and AR technologies tend to motivate startup owners and help them take improved business decisions.
Banking on these technologies, entrepreneurs can attain their objectives and work towards interactive customer engagement solutions. Small business owners can grab the limelight by efficient use of these technologies or offering solutions in this domain. Small business owners can use AR to enable their customers to try new products and preview them virtually before actually buying the products. On the other hand, tech-savvy companies in the travel and tourism sector are effectively using VR to show prospective customers computer-generated pictures of places they wish to visit.
This cryptographic technology is pretty dominant these days. Blockchain technology has inspired numerous businessmen to kickstart their journey in the field of decentralized ledgers. Numerous startups that offer innovative data management solutions using blockchain have cropped up over the years and are thriving in its success.
Banking financial startups offering blockchain solutions are relatively popular. The blockchain algorithms provide assist small business owners to develop new transaction methods and control data structure that supervises electronic cash flow. Blockchain technology ensures that all the data stored on it has a timestamp, meaning forging of data is not possible and the encryption ensures that your information is safe. What’s more? It also enables data automation and legal documentation through smart contracts that are fully encrypted for small business entrepreneurs.
Several startups have been gaining popularity for offering personalized business services based on Artificial Intelligence. AI has been ruling the roost in numerous industries, products, and services, as businesses explore new possibilities to map customer journeys efficiently.
Startups are using insights based on Artifical Intelligence to supervise assets performance and business management models, in addition to executing the predictive analysis. For instance, Salesforce, arguably the biggest CRM on the market right now, is using AI in almost everything to help small businesses with actionable recommendations and predictions. The technology also helps the new businesses empower the entire workforce in the organization. Artificial Intelligence-based service offerings allure the investors and accentuate the partner pool as well. However, the most basic way in which AI can help a business grow is through a chatbot. These customer-facing AI-powered chatbots are helping business owners in a big way to respond to customer queries without sucking up the actual man-hours.
These four technologies are proving to be integral to startup growth. Moreover, these technologies are helping the startup owners to chart their path amidst the cut-throat competition. Of course, these too will be replaced by more sophisticated technologies in the decades to come, but for the time being, businesses can’t ignore these disruptive technologies anymore.
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