Startups with innovative products and services in various industries are expanding rapidly around the world. The most intriguing aspect of this change is that technology is driving it. To give enough space for the development of the growing interest in technology, many nations are building smart cities.
People can shop for items using their internet plans, do virtual doctor visits on their phones, and get college degrees remotely.
As technology develops, more and more business-friendly concepts appear. Even if it may seem like there are already too many players on the world’s start-up scene, particularly in the financial sector, there are still other areas that don’t get enough attention. This indicates that you can still try your luck in the very competitive startup market, but one thing is for sure: what you need is a concept that not many brands have tried.
For your convenience, we’ve compiled a list of four cutting-edge technology concepts your business should take advantage of to gain market share. While these concepts aren’t exactly new overall, we’ll give you some tips on how to use them to your advantage in ways others haven’t.
1. Drone technology as a service
Drones can be used for different things on the mainland, while they are frequently used to capture aerial shots in movies. Zipline, Rwanda’s official drone service provider, provides compelling evidence that drone technology can address pressing problems like delivering medical supplies to underdeveloped areas.Photo credit: Pexels
However, drone technology goes beyond the delivery of food and even prescription drugs. Your startup can create drones for a variety of clients with various demands. It could, for example, market drones that can be used for security surveillance. This type of drone can record many images and videos of a property and immediately send them to a computer or smartphone. Making drones that can guarantee future buyers greater safety may make sense because people’s concern for safety is unlikely to abate any time soon.
His startup can create drones that e-commerce companies in Africa can use to transport items. These drones are already well known in the United States thanks to Amazon. Jumia and Zipline teamed up to offer drone package delivery to their customers in Africa last year. Other e-commerce companies will want to join the trend if it gains traction. You will benefit from this.
2. Consumer health devices
The time when it was thought that certain innovations were exclusive to the region is over. The healthcare industry has changed significantly since Covid. Today, telemedicine makes it possible for patients to access primary care without the need for a physical visit. Also noteworthy is the recent influx of health-related gadgets, including blood pressure monitors and fitness trackers.
Photo credit: Pixabay
It’s easy to limit consumer health devices to the examples listed above, but there’s a huge market full of products that start-up companies can start developing. They consist of snore silencer pillows that promote restful sleep, an eye-tracking sleep mask that can allow users to identify problems with their sleep patterns, urine scanners, and many others.
It’s important to remember that before medical device entrepreneurs can sell their products, the country’s food and drug regulator must approve them. Be sure to keep that in mind as you think about this.
3. Software as a service solutions
SaaS, or software as a service, is a work-in-progress invention that has completely changed fields like payroll and human resource management. The use of a subscription-based business model and the fact that external servers, rather than internal ones, host the software are two of its most prominent features. Slack, Zoom, and Netflix are some well-known examples. Your startup should seriously explore developing SaaS technologies that address contemporary issues because SaaS technology is in demand.
Photo credit: Pixabay
It’s important to note that several verticals are already full, so you should explore the less popular regions of the world. Based on one or more of the following business concepts, you can build SaaS tools:
- electronic billing
- content planning
- employee engagement
- appointment management
- virtual assistants
- Resume Builder
4. Chatbots
The popularity of ChatGPT, a chatbot developed by Open AI, as well as other chatbots, shows the potential of conversational AI technology. E-commerce companies, the healthcare industry, and other industries have made extensive use of chatbots to improve service delivery. Therefore, it is okay to ask why we chose to include this concept in the list. Here’s why we think chatbots can still help novice entrepreneurs put new business ideas to work.
Photo credit: Pixabay
Think about the health sector. You can create a chatbot that consumers can use to talk about their mental health. The bot can be designed to play calming sounds in addition to responding to mental health issues with cliché words of motivation. The user can use this to help sleep or meditate. You can also create a chatbot that asks people to take their medicine. Patients, especially those with chronic diseases, will benefit significantly from this.
Another option is to build a chatbot that, when connected to the power company, alerts consumers to upcoming maintenance windows and blackouts. The bot should also be trained to help with common questions like how to pay your bills, how to request or activate a meter, how to report fraud, etc.
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Categories: Technology
Source: vtt.edu.vn