How New Technology Is Disrupting Incumbent Industries

by | Mar 8, 2021 | 0 comments

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Technology is still evolving at such a rapid rate that entrepreneurs find unique uses that couldn’t be imagined as little as five years ago. Angel investors, stockbrokers, and the average person are looking out for companies solving problems by implementing new technology. Disruption is happening so fast it will soon become difficult to keep track of all the companies changing industries through technological innovation.

Playlist Creation

We all have that one friend that knows the exact songs to pick no matter the mood or environment. Picking a playlist can be a difficult, time-consuming, and frustrating task. It’s often a thankless part of a weekend getaway or road trip. For events, DJs can be an extravagant expense if you are only looking to create a lively mood. Picking the wrong playlist can be embarrassing if your romantic dinner is interrupted by love songs that don’t match the mood you are trying to set. 

Soundsuit is an artificial intelligence (AI) service created to meet the needs of small businesses, event planners, and restaurants. By setting the perfect mood and continually optimizing the playlist, Soundsuit offers customers a legal use in public spaces that private music providers such as Spotify and Apple Music do not.

Voice Assistants

If you don’t have one smart speaker in your house, you probably have two. Alexa and Siri are awesome tools when working using a phone, tablet, or smart speaker, but they are available on all apps. Voice assistants can set reminders, call parents, and engage your mood-boosting playlist, but often don’t work with third-party apps. Speechly is fixing this problem by building a voice platform that any app can use to integrate with its software.

Speechly is not locked within an ecosystem, like other voice assistants, and can work on more pieces of hardware than smart speakers and phones. Just because voice assistants are a new industry doesn’t mean they can’t be disrupted. The voice assistant leverages AI and machine learning to build upon their tools and reach more industries. Speechly currently offers more services than creating lists or retrieving information to solve simple queries.

To keep evolving their services, Speechly needs skilled data scientists. Data scientists organize data and run algorithms to collect relevant data that is used to learn and improve the performance of companies. Although data scientists use complex algorithms, you can become a data scientist without a degree.

Sharing Medical Records

A common issue doctors and patients face is the adequate sharing of medical files. Doctors need to have all important data when making decisions regarding the health of the patients. Even doctors in the same network don’t always have recent information form specialists their patients visited recently. The problem compounds when patients start visiting a new doctor or move and have to transfer their medical records from multiple sources.

The German company OptoVision keeps doctors informed of the patient’s medical visits by creating a platform that securely allows doctors to access files from other medical professionals who have treated their patients. Implementing computer science and new technologies to old industries can streamline services and increase the positive effects the industry was designed to create.

IoT for Anything

The so-called Internet of Things (IoT) is the science of connecting everyday devices to the Internet to increase their usability and accessibility. From watches to thermostats and from lawnmowers to tractors, IoT connects us to the devices around us. XFARM is using IoT to increase the efficiency of agricultural efforts and reduce the number of laborers needed. The company focuses on connecting agricultural equipment to sensors to reduce waste in fuel, fertilizer, and insect repellent, among other things. Implementing technology is a fruitful venture because it allows less transition time to set up equipment properly so that a smaller team can cover more ground. Graduates of coding bootcamps in Seattle can apply their new knowledge to IoT in many of the projects initiated to connect more things to the Internet.

Conclusion

Technology is disrupting industries so fast that original disruptors are being disrupted by newer innovative technologies. Gone are the days where a new product could sustain a company for decades. Companies of all sizes need to be nimble and look for innovation. As technology evolves, business practices and new technologies create opportunities for more people to access needed services