Startups are innovative schemes with an objective to develop new services and products in the market. These companies are small-scale partnership firms that work fast to transpire as a successful business.
While talking about innovative business models, the central role of technology cannot be sidelined. Everything is connected to technology in some ways i.e., product development and promotion.
It is established that technology has no boundaries. It has reached to all business operation and every industry. A successful business always looks for techniques to overcome inefficiencies and enhance operating processes. Being a startup, you must be able to find opportunities to control tech trends when suitable.
One thing that must be kept in mind is that tech trends change rapidly. If you want your startup to function successfully you have to amalgamate these changing trends.
There are numerous trends in technology that will get more progressive in the future. Some of these trends will absolutely assist in startup success.
TRANSITIONING FROM MOBILE FRIENDLY TO MOBILE CENTRIC
Nowadays, there is a colossal influence of smartphones in the startup world. It has become part of their everyday life and has made people more tech savvy.
The mobile integration cannot be sidelined in any kind of product or service. I have mentioned few points below that must be incorporated to make a mobile-centric web or mobile app development.
One thing that must be very clear is that no one will stick to your website if it is very hard to read or takes time to load. For this reason, a considerable amount of weight must be given to mobile-friendly websites.
By allowing customers to pay via smartphones will create trust between the clients and the company. This will also make booking a lot simpler.
Mobile apps rule the corporate world if you are providing ride-sharing service. Creating a mobile app for your company will definitely increase your revenue because people are mobile friendly.
ADVANCED MACHINE LEARNING AND ARTIFICIAL INTELLIGENCE
In 2016, machine learning and artificial intelligence became big buzz words.
Giant tech companies like Microsoft and Google incorporated AI services to their clouds. Following this trend, Salesforce also introduced a new AI infused analytic service. Startups like travel site Gogobot also started adding AI in their apps.
In addition to this, a research firm, Markets, and Markets suggests that AI market is expected to grow from $420 million in 2014 to $5.05 billion by 2020.
From cloud services to Internet of Things, artificial intelligence will impact everything. There is one area that will actually grow intelligent in 2017 and it is called virtual assistants.
Although Google Now, Cortana and Siri are not accurately new, such services are being darned into other areas.
In 2016, Apple opened Siri up to the third-party developers, this enabled Siri to send payment via Venmo. In Windows 10, you can use Cortana with a horde of Microsoft apps also.
According to Grand View Research, the universal Intelligent Virtual Assistant (IVA) market size is anticipated to touch USD 12.28 billion by 2024.
VIRTUAL REALITY AND AUGMENTED REALITY
Majority of the world knows about Pokémon Go, as it was the biggest cultural sensation. In addition to this, it was a top mobile game app of 2016. Its exclusive gameplay highlighting augmented reality was probably the foremost provider to its sudden increase in approval.
Virtual reality (VR) and augmented reality (AR) are diverse echelons on the scales of cybernetic sensory. Virtual reality swaps the persons physical and real world by with a complete stipulated experience.
Whereas, augmented reality adjusts the physical and real world utilizing computer generated smells, sounds, and sensory images. Trend information recommends that the industry of transformed reality will be flourishing in the future.
Therefore it is important for the startups to view the usage of VR and AR to their advantage. Let’s imagine that you are a new travel booking company. Traveling currently is difficult and saturated to break into.
However, you are self-assured that you can deliver enhanced value to your clients. You can also set yourself at a distance from others.
Established companies make use of virtual reality to give virtual tours of destinations and resorts. This is done before the customers set the vocation. This degree of interactivity can assist to provoke accomplishment while also refining the user experience.
SOCIAL MEDIA’S IMPACT
In the beginning, the technology utilized by social media platforms was straightforward and simple. Nevertheless, it has become difficult with the passage of time, permitting you to stimulate your startup from the starting, on various social media platforms. It will help you in attaining customers for the services and the products.
You can assimilate the e-commerce platform to the website i.e. Instagram and Facebook. Payments can also be accepted via their gateways.
For small businesses, social media has become an absolute requirement. You must ensure your presence on Google Plus, LinkedIn, SnapChat, Instagram, Facebook, and Twitter.
This is because you have to inform people about your existence. You need to inform them frequently rendering to platform best practices. Buy now options and promotional offers must also be added.
The Internet has played a key role in getting people socially active. The reviews on social media also determine the purchase behavior. You must ensure that your customer leaves a review for your business. Connect to apps like Zomato and Yelp if you are in a hotel industry.
DISTRIBUTED AND BLOCKCHAIN LEDGERS
In 2015, Bitcoin proved that coins themselves could be far less valuable as compared to underlying technology. This is called Blockchain and it created this.
This is also known as the technique for dispensing a database through various far-fug computers.
Blockchain can be utilized to retain trail of digital coins, i.e. Bitcoin and all types of other stuff. Associations have developed up to generate new Blockchain apps for the healthcare, financial industry and so on.
Market Reports Hub considers that the worldwide Blockchain technology market share will grow from $210.2 million in 2016 to $2.3 billion by 2021.