Top tech startup trends to look out for in 2019: Eric Jiang, CEO & Founder of Yeelight

Guest Column: CEO & Founder, Yeelight, speaks about changes in business models of tech startups

EricJiang

The tech startup industry in India is growing leaps and bounds every year. The evolving technology, changing lifestyle and buying patterns of the consumers has brought significant changes to the business models of these startups over the past few years. With 2019 drawing closer, let’s take a look at the trends that will further reshape the tech startup scenario in the coming years.

Augmented Reality
Augmented reality (AR) is often related to the gaming world, but it will start serving a more significant purpose in the coming years. AR will revamp the business operations of the technology startups by enabling them to showcase the features of their offering in a better way and hence providing a superior experience to their customers. A lot of companies have already started leveraging this technology to scale their business. For instance, a few companies have adopted AR technology to give a three-dimensional view of their product to the customers.

Artificial Intelligence
Artificial Intelligence (AI) is constantly pushing the limits of science and technology and helping us achieve the unimaginable things. The pace at which this technology is evolving, it is poised to transform businesses like never before. According to a research by Accenture, AI could double annual economic growth rates by 2035 by changing the nature of work and creating a new relationship between man and machine. 2019 will witness a lot of startups utilising AI to develop revolutionary solutions for their complex business issues. For instance: AI-powered chatbots are gradually decreasing companies’ dependency on human resources for redundant tasks.

IoT Analytics
IoT Analytics helps to collect, clean and analyse IoT data. It empowers enterprises and device manufacturers to quickly and easily gain operational insights. IoT analytics can be useful for engineering automation startups, mobile apps creators, cloud results and hardware growth, etc. IOT analytics in the future will allow the startups to gain an awareness about buyer’s preferences and picks, thus improving incomes, providing competitive gain, and enhancing buyer’s engagement.

Gig Economy
Gig Economy is changing the way startups are hiring their employees. Tech startups are increasingly turning towards gig economy for short-term help, and this trend will continue to rise in the coming years. By embracing gig economy, entrepreneurs can explore and test new areas of business with relatively less financial risk.

 

The author is the CEO & Founder of Yeelight


Disclaimer: The views expressed here are solely those of the author and do not in any way represent the views of exchange4media.com

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