Editor’s note: Startup Spotlight is a regular part of TechWire’s Startup Monday package. But instead of focusing on a particular entrepreneur or company this week we’re taking a look at opportunities for entrepreneurs created by emerging and new technologies. In coming weeks a series of articles will examine in more detail specific technologies and opportunities within each.
RESEARCH TRIANGLE PARK – The pace of technology change – from embracing of artificial intelligence to the emergence of the metaverse and quantum computing – is expected to pick up considerable speed – and dollars – in 2023. So how can entrepreneurs cash in?
Are there opportunities – or necessities – to embrace a pivot to a new direction?
Should you reboot your existing business plan?
Of if you have dreamed of launching a startup is now the time based on opportunities and your skillset to chase a particular technology – or a blend of emerging applications?
First, the dollars and opportunities.
According to research firm IDC “new technologies” will draw a whopping $1.3 trillion next year, a 30% addition to tech spending, according to tech organization CompTIA.
IDC identifies these as:
- Internet of Things
- Mixed reality
What’s most promising?
A survey of tech professionals reflects the range of tech opportunities and which ones they see as most promising.
Artificial intelligence leads the way as already having “value” at 31%. That’s certainly evident in the Triangle where a host of AI firms are pushing the edges of capability and already making deployments.
Next up is crypto and Web3 although cryptocurrencies are facing troubles especially with the bankruptcy of FTX.
Third is metaverse, the virtual world environment that is being pushed hard by Cary-based Epic Games.
Robotics and automation ties metaverse at 26% with companies around the world struggling with workforce issues in the wake of COVID.
Fifth but not far behind is quantum computing at 23%. Here again considerable research is being conducted in the Triangle and by firms such as IBM and Google.
So 2023 could be a big year for entrepreneurs who can embrace and adopt the changing landscape.
“No matter which direction an organization may choose, technology will play a starring role in the story. Technology alone cannot solve all the world’s problems, but it can accelerate solutions for those with the right vision,” the CompTIA report says.
“[Companies] have more opportunities than ever to diversify their workforce, reach new customers and develop new products,” CompTIA adds. “Whether it is expanding current offerings or pivoting to a new business model, companies can build on lessons learned to reach new heights.”