If you are an ambitious entrepreneur and dream of finding your niche for a successful startup, get to know some really cool business ideas that will be in demand over the next 12 years from 2023 to 2035. Innovative business ideas are different from standard ideas because they make the world a better place. Breakthrough ideas bring new technologies to the world that solve problems for the earth and humanity.
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Today, more and more entrepreneurs are creating new technology startups that have great potential to solve such important global problems as climate change, combating excess waste and recycling it, cleaning the world's oceans, water shortages, the extinction of animals and plants, etc.
Key innovative business ideas for cool startups in the next 12 years
Digital acceleration in general has been a big trend in the last few years. Digital acceleration will continue across the globe between 2023 and 2025. One way startups will leverage digital acceleration is through generative artificial intelligence (AI).
“Generative artificial intelligence” is a broad term that why you should of pick us encompasses many things. Simply put, it is unsupervised machine learning algorithms. These algorithms create (“generate”) new content and knowledge using what they have learned.
For example, generative coding AI could generate code itself. This code will become increasingly complex and sophisticated as the AI “learns.” This ability can be used to fix bugs and improve the functionality of applications.
Using this technology, the problems of translation from any language to any other language will be completely solved. We will not be able to distinguish human-generated content from content created by artificial intelligence - in written content, videos, digital art and elsewhere. The artificial intelligence market is expected to grow exponentially, and by 2023. the global artificial intelligence market is expected to exceed 50 billion dollars.
However, generative AI poses some risks. It is sometimes associated with things like deepfakes and fake news. However, when used correctly, it has many useful applications:
Generative AI is great for automating the tedious, repetitive work of digital creation. For example, it can edit images and audio files to produce crisp, clear results. This kind of work is time-consuming and tedious for human engineers, but it is easy for generative AI.
Generative AI can quickly create models for testing. They are useful for everything from weather forecasts to audience research.
Generative AI can come up with content ideas for blogs, social media posts, and more.
Generative AI can create digital prototypes very quickly. This speeds up research and development.
The rise of Internet of Things (IoT) technologies
The Internet of Things today is more than interactive refrigerators. IoT technology allows everything from your heating system to your bicycle to become a data portal.
The Internet of Things has been reaching critical mass for several years now. By 2023-25, it will be bigger and more accessible than ever before. Essentially, IoT devices are gateways. Each gateway is another opportunity to connect with customers. But startups that are actively implementing IoT technologies should be careful. Consumers will not be happy if their refrigerator starts to get clogged with random brand advertisements.
If you are going to use IoT for marketing and communication, you should give control to the customer. Otherwise, you may come across as a pushy and intrusive brand. Which is the last thing you want when you are trying to build a brand-customer relationship.
In the future, startups can also use the Internet of Things to speed up business processes. Things like smart tracking devices can help manage the office. Smart security features can alert you to potential intrusions. Small business card readers can send transaction data directly to your CRM. You can even use the Internet of Things to send instructions to manufacturing machines.