In a society where the economy is increasingly technology based, prospective business owners may look to innovations in the tech industry as potentially lucrative business opportunities. According to the IEEE Computer Science Report for 2022, there are several drivers of innovations in technology and trends in the tech industry. These drivers include climate change, increased average life expectancy, rise in global inequality on a global scale, increased use of big data and analytics, increased pace in transfer of knowledge, use of technology in medical procedures, and several others.
Based on these drivers, there are ten tech trends or areas within tech which are likely to show the most growth in 2022 and potentially beyond.
Sustainability Tech
Tech related to green energy and renewable resources is likely to continue to rise in 2022. Electric cars and renewable energy, for example, will continue to be important areas for innovation.
Nanotech
Nanotechnology is used in various products, including sunscreen, tyres and medical devices small enough to be swallowed. Nanotech development is likely to continue in these and additional.
The Internet of Things
The internet of things includes smart homes, smart cities, and clothes that monitor our movements. Individuals increasingly have smart devices controlling their homes for convenience, which is likely to expand, subject only to concerns around privacy.
3D Printing
3D printing is not the newest technology. However, its use in creating previously expensive objects is likely to increase as the technology becomes more available.
Machine Learning and Intelligent Systems
Automated systems based on, for example, artificial intelligence and data science, will likely continue to be useful and improve lives in multiple ways such as building models and making relevant recommendations based on existing data or ranking data.
Life Sciences Related Tech
This area of tech aims to improve both animal and human health as well as making improvements to the environment. These issues will continue to be of utmost importance and drive innovation in this area.
Medical Robotics
Tech in this area has led to many life-saving innovations. This goal will continue to drive technical advancements in areas such as prosthetics and telemedicine.
Computational Biology and Bioinformatics
Like the previous two areas of technological advancement, computational biology and bioinformatics aims to use data to understand the human body and thereby improve human health.
Cyber Security
Given that most industries have moved online, there is an increased need for cyber security. Data storage and analytics has given governments, corporations and criminals access to persons’ data. Cyber security innovations will need to balance privacy with security.
Massively Online Open Courses (MOOCs)
There is an increased drive to open up knowledge and information. MOOCs may, in the future, divert students in higher education from traditional universities and alter the traditional nature of university relationships.
While there are multiple trends in the tech industry, these are some of the trends or areas of innovation that have shown growth in the past and are likely to continue to grow, making them a fertile environment for new businesses.
Prospective Business Owners
Anyone looking to jump on these trends and start their own business will need to consider what type of business they want to create; a sole proprietorship, partnership, corporation or limited liability company (LLC). Prospective business owners will need to keep in mind that depending on the type of business entity they choose, they will also need to appoint a registered agent. Registered agents accept important documents, such as government and legal documents, on behalf of the business.
Generally a business owner will be able to appoint themselves as the registered agent of their business. However his/her address will become a matter of public record and he/she will be required to be at the appointed address Monday to Friday, 09h00 to 17h00 to accept delivery.
It is important that a registered agent be both appointed and maintained. Failure to do so could result in the business losing good standing in the State in which the business is located and even in the State dissolving the business. Without a registered agent, important legal documents may not come to the attention of the business owners, resulting in potential legal judgments against the business.
For these reasons it is advisable to appoint a registered agent service such as ZenBusiness, Northwest Registered Agent or IncFile.
Final Thoughts
Any new businesses should take into consideration where the market is going and how a business could be profitable in that context. The aforementioned ten top trends in tech are areas in which new businesses could potentially grow and become profitable.
