We are living in a world where technology reigns supreme. There is an increasing demand for the entrepreneurial ventures rooted in technology. S R Nair expounds on five areas which carry very good possibilities of creating ideas and future entrepreneurship.
Analytics, which is a growing area. In every organisation, there is a huge data of customer transactions. Analytics helps them to organize and rearrange it using certain level of programming and software to make sense out of this data. That is where analytics comes handy.
Robotics means the area of automation. Use of highly equipped mechanism to enhance activities in various sectors.
The machine itself is able to produce it’s own algorithms and its own logic. There for we called machines have it’s own intelligence. Machine learning speaks about natural language processing towards that.
Genomics or the area of genetics. The study of the mapping has opened up large possibilities of entrepreneurship to define people’s characteristics, traits and diseases. Mapping of the human genes have given large possibility of entrepreneurship particularly in life science, bioinformatics, computational mathematics etc. Genomics details can be used for analysing diseases and character of people.
Now, There are two types of knowledge available that is tacit knowledge and explicit knowledge.Explicit knowledge is explainable. Tacit knowledge is that we can’t able to explain and need to translate.