In 8–10 years, every technology company and investment will be worthless. We need to pivot, NOW!
This is not click-bait. Rather it is a sober yet exciting realisation that has been converging for a few years and only made worse by the increasing rate of release of major tech breakthroughs into mass products and services by a few big global tech companies whose names we all know.
In this insight, we do hope that you are also driven to focus on solutions and let us begin pivoting now as the current scenario presents a unique opportunity, especially in the Caribbean region where the tech industry is on the cusp of being a major player in the GDP calculation.
As we will attempt to explore, there are very few companies in the Caribbean with the combination of active research and development, funding at scale, market strategy and leadership to be able to compete with the global players who are either actively developing and offering the services to the region, or who are waiting on the right time to add “Caribbean” in their list of supported regions.
Artificial Intelligence (AI)
This is arguably one of the hottest advances in the tech industry right now. As a cross-cutting technology it has the capacity to affect every other industry in ways we are just beginning to explore. Sci Fi movies from as far back as 1927 about the future (just before the pending apocalypse) includes AI as a core feature, from Metropolis to The Matrix. We can generally agree that its importance in the next 50 years of humanity will be pivotal.
A cursory search on “How to build AI” reveals over 1M results, with each link on the first page taking the user to information about integrating with AI apis from the usual players: Google, Amazon, Facebook, Microsoft.
At the latest PitchIT Caribbean, which is a regional discovery engine for tech start-ups, there were no entries using AI for their service. Here is a list of the startups in the US with an average valuation of $5M.
The technologies we will cover in this insight are:
- Internet of Things (IoT)
- Autonomous Tech
- Robotics (sex, homehelp, medical)
- Bitcoin / Cryptocurrency
- Software Development
- Big Data
- Alternative Transportation (drones, self-driving vehicles, eVehicles)
- Digital Marketing (mobile apps, websites, social media)
- Virtual Reality
- Hardware innovation (crypto-processors, biological cpus, cloud)
We will update this document over the next few months. If you want to contribute your research or thoughts to this insight, feel free to reach out. You will be credited for your input.