The world is taking giant technological shifts, which is the center stage in entrepreneurship. Entrepreneurship, in the modern world, isn’t as hard as it was before the 20th century. There are many ideas to brainstorm, and resources are everywhere. So, if you’ve ever thought of owning a business, don’t shy from taking a leap.
However, here are five industries that are worth checking out. Research and studies show that they’ll be the go-to industries in the coming years.
- Big data analytics
There is a need to examine the extensive data we have in our workplaces, business, health sector, and government. We need to unravel the information to get hidden patterns, study market trends, and explore customer preferences in our businesses. If you put this together, you are simply talking about big data analytics.
As an entrepreneur, even the simplest knowledge of big data analytics should be your right-hand guy. You are not only offering a service/product but checking the customer experience and employee performance to make judgments for the betterment of the company.
You don’t need to be a graduate in data science to do data analytics. You can easily research new revenue opportunities, better customer service, improve operational efficiency, and get competitive advantages over competitors.
Financial technology is the go-to trend for entrepreneurs that want to conduct their businesses more efficiently. In most of the cases, you don’t have a human involved because it relies on Artificial Intelligence to control your business’ financial performance. As an entrepreneur in the fintech industry, you’ll be helping businesses minimize the traditional institutions to reduce expenditure and maximize profits.
For instance, payrolls, insurance, and securities have been handled manually for a long time. As a fintech enthusiast, you can come up with systems that automate such processes to reduce money spent on hiring someone to do these tasks.
A few of the fintech options that are making headlines are cryptocurrencies (money of the future) and forex trading. While forex trading has been there for a while, we still don’t know its capabilities.
Since the time of the robot dance movie, robotics has won a place in human hearts. It has already secured a spot in entrepreneurship. Today, robotics has not only revolutionized the industrial world but also began advancing to our homes, and Alexa is leading all the way. According to a study by Business Insiders, there will be a huge shift from human laborers to robots in 20 years. Venturing into this industry is not a bad idea at all.
As a part of fintech, blockchain is a new world that we have not fully explored yet. We still don’t know what it is capable of. But the fact remains that learning blockchain as early as now will prepare you for a better tomorrow. Imagine a world where you don’t need a bank as an intermediary to make transactions. You bet you know the profound changes blockchain will have on how we view money.
Some of the areas blockchain has had a bite on include transforming the value of ownership using tokens. Some companies like Swiss Real coin and block square are already there to help you. What does it bring to the table? You get faster transactions and significant liquidity when buying real estate. Plus, blockchain has impacted AI, decentralization, and SAAS now BAAS (Blockchain as a Service). Pretty interesting!
- Online education
Learning in the classroom is slowly becoming a traditional way of learning. People are slowly going digital, and e-learning is the go-to thing for many students today. They find it simple, convenient, and just fun to get your degree after three years of learning on your tablet or laptop. The value of online learning, as of now, is estimated at $176 billion. By 2025, the industry will have hit $325 billion.
A few years back, offering an online course would be met with hostility. It also happened that graduates had a hard time getting jobs with their “online certificates.” However, as technology slowly takes a shift in every sector, more universities have given in to the idea.
The exciting bit is that e-learning does not target professional courses like MBA alone. Today, you can get a course in almost everything. Whether you want to learn how to play guitar, become a better cook, or even become an online tutor.
Technology is the steering wheel for all the five industries we’ve looked at. So it goes without saying that for you to venture into any of the sectors, you should arm yourself with the latest technological trend. Either way, you should at least put one of these options in your checklist before you start brainstorming business ideas.