Internet of Things(IoT) is the latest buzz in the world of technology. This technological change has brought a complete reform in the electronic and physical world around us. With the new and innovative companies taking birth, we can feel the predictions made years back about IoT coming true.
Telenor Group has done a survey to observe the changing startup trends in 2017, and how Asia’s startup communities will play a major role. The survey was conducted over Facebook and Linkedin including 215 respondents aged 15 to over 55 years old from different Asian countries. People were asked about the type of startups they are most likely to create in 2017 and according to the response, 38% wanted to create an IoT startup in 2017 whereas 22% wanted to establish medtech startups, 14% chose on-demand startups, 11% wanted enterprise startups and 10% opted for fintech startups.
The survey clearly shows how Internet of Things startup ideas have significantly outnumbered other startup options. Why are people so much inclined towards building IoT startups? First, let’s try to analyze different IoT startup trends in 2017.
To learn more about the Survey, please visit Telenor’s website.
Let’s delve deeper and try to explore the IoT startup trends in 2017:-
1. Cybersecurity Startups:
Over the years, Cybersecurity has been a prominent area of concern for several companies. According to Forbes, Cybersecurity market is expected to reach $170 Billion by 2020. These predictions are certainly affecting the startup space. In 2016, CB Insights reported that more than 400 deals were made to cybersecurity startups.
Certainly, Cybersecurity startup ecosystem is growing and companies are looking to create the next generation cyber protection. Here we have clubbed some of the startups (not limited to) which are making their marks:-
- Darktrace , established in 2013 is the world’s leading machine learning company for cyber security from Cambridge. Darktrace takes help of AI to spot pattern and prevent cyber crimes before they occur. This is certainly a unique approach by the company to protect enterprises from cyber threat.
- Deep Instinct, founded in 2014 and it claims to be the first to apply deep learning to cyber security. Its AI cyber security system can detect threats against previously undefined intrusions across devices and servers. The system is designed in a way to provide protection to endpoints such as a laptop, even if the device is not connected to the internet.
- Forescout, a California-based cyber security startup, is working towards network and Internet of Things (IoT) security. The startup is determined to protect organizations from the emerging threats that exploit billions of IoT devices within organization’s network.
2. AI and Machine learning Startups:
According to the report published by Gartner in October 2016, AI and Advanced Machine learning top the list of the 10 strategic technology trends in 2017.
In 2017, Artificial Intelligence is about to take charge over many Cybersecurity jobs. Cisco estimated that 1 million cyber security jobs are unfilled worldwide. Due to its high efficiency and accuracy, Artificial Intelligence is now capable of taking over such kind of jobs.
Big Data is also one of the major reason for the expansion of Artificial Intelligence. According to IBM, the world generates 2.5 quintillion bytes of data, and the most interesting fact is, 90 percent of data in the world have been created in the last two years.
All these factors are giving rise to a spectrum of intelligent implementations which includes several AI and machine learning startups. Here we have named a few such startups:-
- Clarifai, founded in 2013 is an artificial intelligence company proficient in image processing. The technology used by the company is built on the most advanced machine learning systems. Clarifai has made these technologies accessible through a clean API, helping developers all around the globe to build a new generation of intelligent applications.
- Digital Genius is a London-based startup, working to bring the applications of deep learning and AI to customer service operations. Its neural network responds to common queries by automatically sorting and labeling the metadata and simultaneously generates three potential responses.
- Fluid AI is an India-based startup working on creating any screen into a gesture-controlled AI-powered assistant. The company is trying to personalize finance, Government, Web and Marketing.
3. Intelligent Things:
Intelligent things are basically the unique combination of Artificial Intelligence and Internet of Things. The advancements we are seeing today such as autonomous cars, drones, robots fall into the category of Intelligent things.
Though Gartner ranked Intelligent things third in its Top 10 Strategic Technology Trends in 2017, we should not underestimate the popularity of intelligent things. It is constantly evolving and Intelligent things will gradually shift the paradigm from standalone to a collaborative model.
There has been a tremendous increase in the startups offering Intelligent Things. Let’s see some of them and get an idea how these are changing the world. (not limited to)
- FiveAI is a U.K based startup utilizing the maximum benefit of Artificial Intelligence to build autonomous car Softwares of the future. The company claims that they are using multiple sensors, deep neural networks, combined with unsupervised learning technologies and other advanced technologies.
- Aptonomy Inc. has developed a drone technology to help prevent any type of robberies, malicious activities or prison break. The company has developed artificial intelligence and navigational systems that help drones to fly fast, avoid obstacles, and detect human activities.
4. Chatbots Startups:
In the recent years, AI has evolved a lot and has made Chatbots more accurate. For instance, if we talk about customer’s trends towards messaging then we clearly observe people are spending more time in messaging apps than in social media.
Chatbots are the computer programs designed to conduct conversations via auditory or textual methods. These programs often behave like how a human would behave as a conversational partner. Many companies have now started using Chatbots as IoT interfaces because of their enhanced capability of receiving and exchanging data with other connected devices.
This has certainly resulted in several Chatbots startups and here we have compiled few of such promising startups (not limited to this):-
- Talla, founded in 2015, offers intelligent automated assistants designed for internal conversation between employees through machine intelligence. With the help of Talla, users can communicate, automate, and coordinate many tasks every day. Talla lets users integrate Office 365 and Google Apps documents and calendars to access everything from the chat interface.
- TARA.AI has created an automated chatbot to help a freelancer to find better work. The chatbot also works as an automated recruiter and also helps in smart project management. It also helps companies to reach their desired product goals.
- Niki.ai is working towards automating end-to-end order through chat. The startup has developed fully functional AI-powered bot which can perform a variety of tasks including mobile recharge, cab booking, etc.
5. AR and VR Startups:
AR and VR are amongst the newest addition to the world of technology. Both AR (Augmented Reality) and VR (Virtual Reality) are revolutionizing the way companies market their products online. According to cbinsights, in 2016, Augmented Reality and Virtual Reality startups collectively got an investment of $1.8B, and they stated that it was by far the largest funding.
Not only are these technologies revolutionizing the digital marketing arena, but are also giving rise to several startups focusing on entertainment. Here we have clubbed some of the emerging startups which are making their marks:- (not limited to)
- Looksar is focused on providing augmented reality services that create new marketing options for products and new engagement experiences for customers.
- Unity Technologies founded in 2004 is the platform to create 2D, 3D, VR and AR games. Certainly, Unity has become a strong player in the booming global game market. As per Unity Source, An estimated 90% of Samsung Gear VR games and 53% of Oculus Rift (games at launch) were Made With Unity.
- Mindmaze, founded in 2012, claims of using virtual reality, neuroscience, and machine learning altogether to solve complex problems. They have partnered with healthcare and entertainment companies to understand human and machine interaction by using neural prediction.
Big companies have now understood the power of IoT and they have started funding these startups. Intel has invested more in the Internet of Things startups along with other mnc. Certainly, these startup trends will bring a big change in the work processes, customer experience, and cost containment.