If you have ever asked your phone for directions, or the weather, you have become a user in the Internet of Things. What does that mean to you, and me? Just this. Technology has upended everything from the way we shop to how we invest our money. And while that hurts established companies who are unwilling or unable to adapt their business models, it’s created incredible opportunities for savvy entrepreneurs.
Take a look at some of the new trends, most of which aren’t really all that new, but have actually become more mainstream. Our children will be living in a much different world than ours. If we want to keep up, these are some things we need to pay attention to.
Artificial Intelligence or The IOT(Internet of Things)
If you’ve ever used an Amazon Echo or Google Home to check the weather or order a pizza, you’ve been using artificial intelligence, which Stanford University defines as “the science and engineering of making intelligent machines, especially intelligent computer programs.” Do you have a step tracking device? Welcome to the IOT. Internet of things. Things that talk to other things are IOT’s.
It’s a hot sector with tons of growth potential. According to the BLS, demand for operations research analysts, who may develop artificial intelligence systems and related programs, is expected to grow almost 30% from 2018 to 2024, which is currently higher than the 7% average for all occupations.
Love playing video games? Even if you don’t, or you think games are for kids, it’s a seriously grown-up industry — expected to reach $20.3 billion in U.S. revenues by 2020, Venture Beat reported. With the popularity of Twitch with 1.9 million streamers all using the platform for income, it’s a growth industry.
Another growth area within video gaming includes in-app purchases and micro-transactions that let users enhance their gaming experience in popular games. In-game branding and advertising opportunities as well as mobile apps that turning gamers who prefer the computer or console-based experience into mobile gamers too.
Software as a service
If you’ve ever ordered from Seamless or GrubHub, talked to a colleague on Slack, or sent or saved a document through Dropbox, you’ve been giving business to a “software-as-a-service” company, also known as SaaS. Perhaps the best-known SaaS firm is Salesforce.com, which is worth about $62 billion.
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