The Strategist

Technology And Innovation: Responsible For Industrial Growth

05/11/2015 - 14:27

Zach Cutler enumerates five industrial sectors that are “exploding” with new possibilities and opportunities. The inclusion of technological innovation has a big credit in this changing trend which is redefining convention and age old systems. – 11 May 2015 – Zach Cutler applauds the annual progressive achievements of the industries by terming the same as “monumental”. According to him the growth rate is indeed “exponential”, whereby he adds:
“Industries are being disrupted, conventions are being proven wrong, and the world at large is completely transforming right before our eyes.”
Moreover, Cutler identifies five such industrial sectors which are apparently venturing into capital investments through innovative methods and ideas, and enlists the same. In fact, these sectors are also “exploding with start-ups” recently.
“Education”- Ed-tech
The first name to feature in Cutler’s list is that of the ‘Education Sector’ whereby the conventional education model is being replaced “with new technology”. In fact, the rapidly coming in vogue ‘digitized learning experience’ delivered through digital classrooms is changing the notions of old classrooms. In fact, investors and start-ups alike have recognised the potentials of the said market. Consequently, they are promoting a mutual benefit culture wherein the educators and the students are to benefit equally like the industrial figures.
Likewise, the Infobahn is being crowded with the growing number of online open-university courses and “virtual degree programs”. As a result, industries, exploding into “hundreds of companies in the last couple years”, are investing into developing apps “that boost student engagement”.
The novel technologies used to promote education allows “easy access” to study materials, resources, data, information, faculties and students, whereby the growing trend of “flipped classroom” is being introduced. It is a turning point wherein the teachers will be able to monitor closely each student’s progress along with providing personalised attention to them. In Cutler’s words:
“The possibilities in the field are endless as the classroom is reimagined and enhanced with new tools.”
The second industrial sector to appear in Cutler’s list is the ‘Advertising Media” wherein the technology is changing the ways of ‘consumer-media’ interaction. At present, advertisements are not limited to one medium as it covers various platforms like Television, Tablets, Smartpones, and Computers. Likewise, the consumers are targeted through the aforementioned devices as often one may use them simultaneously.
In fact, a survey conducted in sixty countries which included “30,000 poeple”, revealed that fifty eight percent of them “browse the Internet while watching TV.” In the “last few years” time, the advertising industry saw many start-ups being supported by major investors, whereby the trend of “native advertising technology” is turning into “personalization products” which are being delivered to “highly advanced analytics platforms”.  However, Cutler says:
“With so many new media channels, such as web and mobile, and shifting trends, reaching consumers with advertising is a much bigger challenge, and also opportunity.”
“Healthcare”- Health-tech
The third name enlists the healthcare sector which according to Cutler has been:
“...a behemoth, paperwork-ridden, traditionally bureaucratic industry...”
However, the “technological innovation(s)” has enabled the said sector to promote “electronic health records”, “cloud-based” health related problem solution, alternative medical treatments, wearable health monitoring devices and patient tracking among others. The inclusion of technological innovations has benefited the said sector and still promises further development down the line whereby the more lives can be saved with improved healthcare system.
“Cyber security”- Cyber-tech
The growing trend of digitization which is changing the personal lifestyle along with functioning patterns of the corporate sections, as information whether personal, national, or state level, are being stored in the cloud, posing an increasing security threat. Therefore, it is the need of the hour that the development of advanced “cyber technology” steps in “to mitigate the myriad of threats” that can be caused by information leakage.
Furthermore Cutler informs:
“After big name companies including Target, Home Depot and JP Morgan fell victim to cyber attacks last year, security has taken center stage as a crucial issue and investment.”
“Environment”- Green-tech
Global Warming grabbing the centre stage of attention causing climatic changes have established the importance of environment friendly green technology. Whether a hurricane, drought or any form natural disasters, Cutler writes that “the state of the planet is an important issue on our minds”; although the industrial growth is equally important.
Therefore, given this background the development of the green technology seems the only solution as it “creates ways businesses and individuals can live more sustainable lives”. Therefore, the market is exploding with “energy-efficient” products like smart lights, smart air conditioners to eco-friendly devices and energy production methods like solar-panels. It is a budding tech niche that holds unforeseen opportunities in the near future.