16 Apr 2019, 09:59 — 5 min read
Background: Startups often have an edge over their larger counterparts in terms of innovation and agility to embrace change. In recent years, startups have therefore had a significant impact on the business ecosystem.
Innovations are made to enhance and facilitate the normal process, enhancing it to get the most out of everything. Innovations in business, serve the people and make their lives better. When these innovations are admired and followed by many, they become trends. Trends are akin to a raging fire, unstoppable.
Year after year trends change, but what matters is how they redefine our lives. Let’s examine certain trends initiated by startups.
1. Turning to freelancers
Freelancers are built of independence, they are counted as experts of certainty, paid on provided services and are often more professional towards projects, which makes them often more worthy than permanent employees.
Business trends gain momentum if they save money and time, which therefore makes freelancers much sought after. Case in point is Sahil Lavingia —a young talented designer and a serial entrepreneur in Silicon Valley, who started out as a freelancer. He has designed a series of apps, worked for reputable brands, and has gone on to create an e-commerce ecosystem for creative artists to collaborate directly with potential clients.
2. Machine Learning
Companies are creating strategies to learn maximum out of user needs and behaviour. This makes them study and interpret the actions of users before the user themselves and try to interpret data to anticipate user needs.
Many established companies have been working for years on this concept, such as Google that bought the machine learning software of ‘digital wellbeing’, trying to learn user activity on the phone to optimise battery backup and RAM management.
3. Everything into mobile handset
The trend of leveraging the mobile phone is the most pervasive. With a mobile phone in hand, users keep accessing offline or online apps, data or functionalities. This makes businesses even more oriented towards cell phone software and the ocean of mobile applications are proof of this phenomena,
4. Artificial intelligence of Chatbots
With the growing volume consumers, the number of customers trying to contact the company are also increasing. To understand their purpose, companies have started using chat features, where the customers can directly establish contact by dropping off a message. To record all the communication early, businesses are adopting the feature of Chatbots, which responds rapidly to the customer accordingly to the key words.
5. Internet of things
The Internet of Things (IoT) is a system of interrelated computing devices, mechanical and digital machines, objects, animals or people that are provided with unique identifiers and the ability to transfer data over a network without requiring human-to-human or human-to-computer interaction. This concept is the new pathway to machine learning where technology will create a web to actually access and store everything, directly or indirectly from the user.
The social network is full of innovation and bright roadways—the roadways of enthusiasm and young vision which definitely aren’t going to limit their motive that is to learn, adapt, and construct something better than before.
These trends are rapidly gaining momentum. Do share your assessment of defining startup trends in the comments section below.
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By Eng Jin Lim