Priorities

Open data refers to data that can be freely used, re-used and redistributed by anyone, whereas, big data refer to large volumes of data that can either be structured or unstructured, and can be mined and analyzed in order to improve knowledge and decision making. By capitalizing on the use of big/open data, entrepreneurs spur innovation by building products and/or services that better respond to the ever-changing needs of their target audience.

Through the IoT, every object can be connected to the Internet to become ‘smart’. Entrepreneurs have the opportunity to tap into the creation of both industrial and consumer-facing IoT applications, producing thus high tech gadgets that consumers will love.

AI is revolutionizing our daily lives. From custom search engine results and recommendations, to social media alerts/notifications, and machine learning, AI-led technology is expected to impact all areas of business and all industry sectors as it reduces costs, saves times and increases efficiency. As a result, by integrating AI technology into products and services, entrepreneurs can generate innovative solutions and unique applications that automate tasks and services.

Blockchain technology has been defined as an “incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value” and is poised to become the next major disruptor. Moving beyond the bitcoin hype, the blockchain industry is growing fast and is expected to disrupt industries in the fields of Financial Services, Healthcare, Aviation, Global Logistics and Shipping, Transportation, Music, Manufacturing, Security, Media, Identity, Automotive, Land Use and even the Government. Entrepreneurs are therefore called to utilize the blockchain technology to improve inefficient processes, re-engineering thus the ways value is created.

Cloud computing is the on-demand delivery of computing services—servers, storage, databases, networking, software, analytics and more—over the Internet. Since cloud computing is only expected to grow even further, entrepreneurs are expected to come up with innovative ways of using the Cloud. For example, opportunities lie in developing platforms that offer software and hardware tools over the internet, assisting users to develop their own applications without having to develop their own code or install the tools in-house.

Hackers are proving on a daily basis, that the infrastructures of on-premises data are difficult to secure. Due to the ever rising need for risk minimization, resilience and transparency, cybersecurity is amongst the key trends that are likely to affect business in the following years. While cloud security is becoming a top priority for some, others are shifting their focus from protection to prevention. Opportunities therefore lie in creating solutions that will overcome vulnerabilities associated with the rise of Internet connectivity.