emerging technologies and business opportunities
New technologies increase business opportunities by helping to:
- Develop better solutions to old problems or
- Offfer products and services with entirely new benefits
Infotech, Biotech, Nanotech, Cognitive Science and such emerging technologies have the potential to create dramatically new solutions and products. Examples:
- Self-driving cars that reduce road accidents and transport capacities
- Bacteria that clean polluted water bodies leading to a better environment
Emerging Technology businesses have several potential advantages over traditional businesses;
- Innovative products and solutions can generate high profits as you can charge premium prices until the market becomes competitive
- If the demand is large enough, the business can also grow to a huge scale where competitors cannot easily dislodge it from its top position
- Funds can be raised on more favorable terms because the high profitability and fast growth potential makes the projects attractive and push up business valuations
Contact us to explore technology business opportunities.
Information technology (IT) is the application of computers to store, study, retrieve, transmit, and manipulate data, or information, often in the context of a business or other enterprise - Wikipedia
The simple definition above hides the immense power of IT in transforming our world. Think of everyday applications we use such as email, whatsapp, netflix, amazon and more and compare them with what we used to do two or three decades ago to achieve the same goals!
Artificial Intelligence, Cloud Computing, Internet of Things, Big Data Analytics, Cyber Security, Robotic Process Automation and Block Chain Technology are examples of technologies that are going to change things even more dramatically in future.
Biotechnology is the use of living systems and organisms to develop or make products, or "any technological application that uses biological systems, living organisms, or derivatives thereof, to make or modify products or processes for specific use" (UN Convention on Biological Diversity, Art. 2).
Modern biotechnology has applications in four major areas:
- Crop production and agriculture
- Industrial and
Applications like bio-degradable plastics and cleaning up sites contaminated by industrial activities are among the numerous interesting applications.
Nanotechnology involves manipulating matter of sizes 1 to 100 nanometers. A nanometer (nm) is one billionth of a meter (0.000000001m). At these sizes quantum phenomena begin to appear and properties might be quite different from nomal.
Many nanotech products are already available in the market. However, most of these are nanomaterials such as titanium dioxide used in sunscreens, cosmetics and pigments. RNA Nanoparticles is helping target cancer cells as outlined in this NCI report.
Cognitive science studies our mind, how it works, what it does and the processes involved. The study spans multiple disciplines like psychology, AI, neuroscience, linguistics and more. How do these help create businesses?
One major business application area is in learning and development, making these quicker and more effective. Another area is AI or artificial intelligence to create machines that could do intelligent tasks.
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EmTechMag.com newsletters are designed to provide information and tips that help you set up and run technology businesses.
- Discussing different technology applications
- Sources for relevant technologies
- Business plan development best practices
- Agencies that support technology businesses
- Business funding options
- New technology products and services entering the market
- Markets for technology products and services
- Marketing strategies and success stories
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