Tech-related businesses are growing rapidly in the last few years. Tech-friendly companies become popular and enjoy economic growth. Technology has changed the internal structure of companies and has impacted positively on internal and external communication among employees and clients. Tech-related businesses provide effective and versatile services.
Why is Technology important for businesses?
Tech companies have the ability to adapt rapidly to any change. Technology helps the company to build a successful digital interaction with the consumers. Individuals use at least one device today, either a mobile phone or a laptop. Consumers prefer to do any kind of transaction using the internet. In that highly internet-addicted world, the tech-related business can to grow and become successful.
According to TRUiC CEO Nagabhushanam “Bobby” Peddi: “Some of the US startups we helped are now dominating specific sectors globally, purely because technology can be so scalable versus physical services and items that limits the reach of e commerce on a global scale. For example, app developers, data consulting etc. have really succeeded in doing business beyond borders – inspiring us at TRUiC to do the same”.
The digital transformation impacted on creating new business sectors. Today, there are plenty of companies working on an internet base and providing their services online.
If you are interested in starting a new business then you might find this article interesting. As Handel “Del” Henri, said during an e commerce consulting interview: “In helping online retailers match with the perfect payment processor, you realize that those who fail to innovate or transform, pay a heavy price for their comfort zone”. According to Del Henri it is quite common for some medium-sized nationwide sellers to save around $250K per annum simply by upgrading their technology and switching to a more competitive solution.
Technology in Business
Tech companies can be corporated with any other business sector. For example, the healthcare industry, hospitality and tourism, education and any other industry could be incorporated and become a tech-related business.
Let’s talk about the Artificial Intelligence (AI) phenomenon. Lately, the growing computer science AI area has created a different perspective in the technology-based industry. Artificial Intelligence has its application in many different industries such as healthcare, automotive, finance and economics, video games, hospitality, advertising and arts.
Fast-moving Tech companies using AI techniques are considered high profile companies. AI “tool” is high-cost but improves business efficiency. For example, in the advertising sector, AI application helps the personalization of the advertising campaigns to attract targets based on behavioural and demographic characteristics. As Henri Benezra the CEO of SnatchBot says: “Since we rolled out RPA on the worlds’ leading chatbot marketplace and platform, the integrated approach to AI and other critical components is phenomenal – and something that big tech, such as Microsoft and others, will take a while to catch up with”. His brother, Avi Benezra who is the CTO, also oversees their new chat app (SnatchApp) that is similar to Whatsapp and Facebook messenger – but it leverages full chatbot capabilities.
Start your Business in the growing tech and get ahead:
Let’s share some ideas here. If you are a technology fan and you want to start your business in the tech sector then you might want to have a look in TRUiC website. It will guide you through the first steps of “starting your business” and you will discover helpful resources and recommendations.
But which are the fastest-growing tech-sectors?
- Social Media and digital channels. A powerful digital tool which improves the business’s presence and increases the interaction between business and target audience. If you are an expert you could do anything related to social media either advertising, blogging, consulting etc.
- Internet software and services. Do you have software skills? Then use them beneficial and make them profitable. You could either be a web developer and designer, highly expanding business today, or you could start a business related to IT support. Many companies are struggling and using IT experts to develop and expand their network.
- Research related businesses. Being in this “big data” world, companies need to find validate and relevant information and use it effectively for their services. Research and data entry businesses are boom ideas!
- On-demand sector. That’s the hottest tech-related sector! Companies such as Uber, Airbnb, Deliveroo and more, are businesses which are growing fast in the market and provide goods and services based on the high market demand. The sector is growing fast in the tech industry and is very popular to consumers.
- E-commerce. You know for sure Amazon, eBay or Walmart e-commerce platforms. Such electronics platforms are selling products and services. These e-commerce companies and many more are very popular in the last years because of their simplicity in the purchasing process, the variety of goods available and the benefit of international shipping.
- Mobile App Development. It’s amazing how fast the mobile application services are growing. Eg. TikTok application. That’s a big boom in the last couple of years.
- Big Data. A huge amount of data needs to be collected and analyzed. Companies spend a big amount of money to select and analyze insights that could be helpful for improving their strategy and innovation.
- In a web-based world what could be more useful than the Cyber Security sector. As we previously said, big amounts of data are collected from consumers who have to be protected. Cybersecurity experts are in high demand from small and big business and will be even more in the future.
- The Renewable Energy sector. It has high economic growth using digital transformation services. Being in the 21st century and the necessity of renewable sources and the protection of the environment, energy consolidates with technology and works on discovering new ways to protect and “reproduce” the natural fuel sources.