There are two types of entrepreneur – the ones that have an original idea and the ones who just want to start their own business. Either way, an entrepreneur tries to solve a problem and improve human lives as a whole. There are so many startups in the market and they cease to exist due to the fierce competition they face. The entrepreneurs can either differentiate their businesses with a very strong USP or enter a virgin territory. The former will make the business capable of fighting against existing competitors while the latter won’t have many competitors to begin with.
Learn about personal USP here.
For the people who want to start a business but don’t have any unique ideas, here’s a list of industries that are the future of technology and are yet to be fully exploited:
- Electronic Sports
It is hard to believe that people would watch other people play video games just like they watch their favourite footballers and cricketers on the field and in a stadium but Esports is becoming a reality now. The evidence of the same can be seen on Youtube where there is a whole section of trending gaming videos.
- Financial Technology
Fintech is simply the use of technology in financial services and it is becoming very popular as the days go by. Nearly everyone heard of Bitcoin when it came into the news and Fintech is behind the development of cryptocurrency. With the use of computers and smartphones in our daily activities, money related matters are also being digitalised every day.
Blockchain is related to Bitcoin and it is very complex technology. It is used for handling of Bitcoins. It helps in keeping records of transactions that are made using the cryptocurrency and ensures that the information is unchangeable through advanced programming. The word ‘block’ means digital information which is stored on ‘chain’, that is a public database but the technology is yet very confidential at the same time
- Big Data Analytics
Big data is simply the large amount of data stored in different formats, at high speed and with high accuracy. Almost all the gadgets and instruments that we use transmit data about us that helps the manufacturers and developers in giving us better services but such useful data needs to obtained from the big data and this is where the big data analytics comes in play.
Read more about big data here.
Making use of robots for day to day activities is the future of technology. Computer science and engineering have given birth to robotics and Artificial Intelligence is its brain. Robots can perform almost all works that are done by humans and even the things that cannot be done by humans. Activities that are hazardous to human life can be easily performed by robots.
Learn about the different types of human intelligence here.
- Electric Cars
With rising environmental concerns, the world is moving towards sustainable solutions and offerings to problems and needs. The chances of running out of non-renewable fuels like coal and petroleum have driven the automobile companies to develop electric cars and even though we don’t see as many electric cars on the road, a Bloomberg study has found that by 2040, electric cars will outsell gasoline and diesel-fueled cars.
- Online Education
With the onset of the pandemic, the need for online education has been felt worldwide as almost all students shift to online learning. As life becomes more hectic and new technologies and subjects come to reality, almost everyone would want to learn about what is new and trending. Even elderly, retired people try to stay updated nowadays so online education has a huge market base and great potential.
Learn about skills that are in high demand here.