AI, Blockchain, Deep Tech, and Frontier Tech: New Global Startup Trends
At the recent Techsauce Global Summit 2018, several experts pointed out the future global trends of startups in the next three years.
Nio Liyanage, Chief Stratrgy Accerlerate, a startup training institute in Hong Kong, said after e-commerce startups have become saturated, now comes the era of Deep Tech startup which is growing very rapidly. It is the startups which focus heavily on researches and need highly-efficient technical experts. And due to high demand of technical skill of experts, so countries like Singapore, Vietnam, Philippines which have plenty of human resources in programming and database analysis have more advantages in building Deep Tech startups.
As for Thailand, we have to develop the highly-efficient technical experts in order to provide ‘Deep Tech’, especially blockchain in finance and AI for database analysis.
However, Deep Tech startups require more budget and time than the previous generation of startups. They also have more challenges and require more investment budget than previous startups, so there are not many startups in this category but they have good growth potential and have better benefits than other startups.
Addition, existing startups should speed up using of AI into products and services that they develop so the processes will be more automatic. Otherwise, they may lose competitiveness or driven out of the business if competitors use more of AI.
Furthermore, Frontier Technology which is more advanced than Deep Tech will be coming in. Deep Tech uses new technology that derived from research and development, but they haven’t been used for commercial purposes such as robot, unmanned vehicle, machine intelligent, and future aircraft. However, Frontier Tech still has to face challenges of being accepted from regulators and users.
Shawn Dehpanah, Vice President for Corporate and Innovation of Plug and Play Co Ltd, a global innovation platform, said the trend of Property Tech (Porp tech) is moving towards AI, machine learning and blockchain. They will be used in analyzing for the design of residential units, services and systems that can respond to consumers’ needs. They are also used for the accuracy in the building construction that serve consumers’ need as well as for the proper management of the residential projects.
Another upcoming trend in the US is that baby boomers or those who are over 50 years of age do not want to stay in their own home but prefer moving to live in smaller houses as to save cost and easier cleaning. Meanwhile, the millennial people do not want to own the property. Therefore, AI will play more roles in analyzing consumers’ behavior.