The Revolutionary Companies to Watch — Edition 2
Best Revolutionary Business Idea till Date that Transformed the Overall Business Paradigm
May you live in interesting times…
A Chinese curse it is despite which it does sum up the fact that these are interesting times when humongous changes are taking place with the best of revolutionary business ideas hitting the headlines (some actually don’t, but they are quite interesting all the same!) with the promise to get us loads of money and do so for quite some time.
And if you too share this idea that the world today is an interesting place to be in to do business, earn and enjoy, do take a look at some of the ideas we think could make more than the essential cut.
Lead Generation for Small Businesses:
Entrepreneurs of small means and concerns neither have the time nor the expertise to divert the most important of resource, their much-needed attention towards the cause of generating leads for their business. That is the work of the young digital and social media marketer who should ideally try and get some experience in the field and help all those in need of leads. Small businesses are typically generic in their products with an appeal which can be very local. In these circumstances, to stand out of the crowd and communicate the right stuff is the work of a seasoned business assistant who first understands the scope of the product, the audience and then designs the right approach. Mind you, this CANNOT be a one-size-fits-all kind of approach ever as also once-done-and-done-forever activity. As for its scope and returns, it does go way beyond the blue skies!
A computer too is a robot to an extent. It helps do the jobs of humans and do it better with far less mistakes while taking less of resources and time. Robotics that we talk about are the ones which shall completely replace humans in certain fields. As of now, humans’ contribution to their own betterment is much more than that of robots and machines. This though are changing fast. As per the World Economic Forum, by 2025, robots can be expected to overtake humans by working longer and staying ever more productive. Every human enterprise that has processes and repetitions will go the robots’ way be it swopping the floor, serving, and waiting tables at restaurants, working in trying conditions like mines, long distance driving, underwater or in other high-risk situations. And machines would do that any day better with less work stoppages irrespective of reasons. Being in the field of robotics, understanding client needs and implementing them would be a great thing to do, till the time Robots themselves start to do that.
If Robots do their acts better than equivalent humans, AI could do the same to analytics, analysing, predictions and deciphering trends, spotting the unusual and so on. A human mind is incredible when it comes to deep thoughts and analysing overall trends. Give them a bucket of data and everything goes for a toss. Give them anything more, and it could be death by data- precisely what AI does as part of its daily existence. Add human-like abilities to decipher deeper meaning and context, and what you have is ML, the real killer. Every field of every activity that humans have ever attempted is today open to scrutiny, assessment, and betterment by AI. Be it sales, FINTECH, production, creating strategies, designing products, or analysing customer feedback in industry or fields as far apart as education, healthcare, entertainment, food and nutrition, AI’s assistance is an imperative to do more with less. An AI service provider or a user, everyone stands to benefit equally from it.
IoT (Internet of Things)
AI is nothing without truckloads of data and one of the sources to get those truckloads of actionable data is by using IoT-enabled systems and devices. When parts of machines have embedded systems that can ‘speak’ with each other and exchange critical information, things speed up, quality improves, and waste reduces drastically. Ask anyone in the machining industry about the utility of IoT-embedded systems and what it has done for the industry and expect an answer that shall surely set you on the right track. From nuclear power stations to cars, satellites, milling and machining centres to critical electronic component makers, everyone ought to use IoT-based systems to making things faster, better, and cheaper. And if you have the wherewithal to get into this trade of designing and implementing IoT systems, go for it. You would never, ever need to look back.
If air pollution scares you, be (pleasantly) informed that its days are numbered. Yes, electric vehicles be it bikes, cars and SUV are going to push IC engines off the cliff in just about a decade (or max 2). And with that shall go the pollution, and the ubiquitous fuel-filling stations. The latter shall be replaced by the new kids on the block, the CHARGING STATIONS! With governments in every country committing themselves to the clean the environment (both air and sound) in their areas of influence, the charging stations shall be the next big thing. It may take some amount of realigning, digging, and patching to get things in place. But compared to what it shall entail, it could be the smallest of inconveniences.
If humans can go vertical in all manner of buildings and spaces, why cannot plants. And do we have all the space on earth to grow food for our ever-burgeoning population? The answer to the latter is a resounding NO! By 2050, our numbers worldwide would be 10 billion and shall call for near doubling of agricultural production. It would mean a few significant things like less tree cover, less water, and more chemicals in food to increase output. These factors incidentally would also feed global warming which would bring unseasonal rains, thunderstorms, heatwaves, and cold waves. In sum, despite humanity’s best efforts, we would destroy more than we would ever produce. Science though has the right answer. Vertical farming using hydroponics (plants that have roots dipped in water) or aeroponics (plants that grow in the presence of moisture-laden air) would take care of adverse weather by growing plants indoor. Doing so would use less water, and with the backing of AI, and less chemicals. Best of all, with conditions being controlled manually, any manner of plants can be grown anywhere. The United Arab Emirates (UAE) could just be growing apples in the days to come.
If farming can be decentralized with vertical farming, why can’t industry? or can it? Yes, it can. With 3D printing. Be it building homes, cars, machines or even aircrafts, everything is a possibility where a 3D printer is available with the right hardware to churn out the final product. Like home-printers by HP brought a complete revolution in the printing industry by decentralizing the activity right down to one’s home, so too would 3D printing. Take for example automobiles. Till a short while back automotive meant clusters in rich countries of the west which slowly devolved to Asian countries. But what about smaller and modestly placed countries the world over? Can’t they produce cars? If 3D printing has its way, they just may! It does not stop here. PCBs, electricals, and buildings, in short everything can be made by 3D printers anywhere on the planet. There though is a dampener for individuals and a silver lining for entrepreneurs. 3D printers would not be cheap for quite some time. It makes sense to invest in them and lease them to the needy. Doing so would serve everyone’s purpose.
These are but some of the best revolutionary business ideas till date. Where they stand ahead of others is in their sheer utility and novelty in providing just the right relief to humanity. They would also bring wealth to its creators. So, in this next-gen edition of Insights Success, we bring you the stories of ‘The Revolutionary Companies to Watch — Edition 2,’ that are very well on their way towards making a difference in the overall business paradigm. Also, if you find an article inside, do give it a read! Our in-house editorial team has put a lot of efforts in curating it just to satiate your hunger for business insights.