With the effects of the pandemic slowly receding, economies the world over have been opening up as well. However, there is the “new normal” that has become a part of life. In this new way of life, with markets gradually recovering, startups now have more issues to mitigate and even more technology-driven solutions to develop. In this regard, check out certain sectors that hold maximum potential for startups to innovate tools to make the lives of people easier.
- Education – This sector holds maximum potential for startups to disrupt. We have already been witnessing the rise of ed-tech startups across the world, and most of these leveraged the recent global shutdown caused by the pandemic. These startups offered technology-driven online learning solutions to people to keep their learning process steady despite educational institutions being shut. Now, post-pandemic (in the new normal), education is one sector that is being seen as the “golden hen”; and this trend is only bound to surge upwards in the near future.
- Social media and the internet – The power of social media was felt strongly during the pandemic-induced lockdown of economies globally. This “influence” if leveraged in the right way not only creates a positive impact but also employment. The best illustration here is the sudden surge in the number of Vloggers on YouTube, and internet entrepreneurs. Gig-economy, which not too long ago was seen as an “elitist” concept has now become a new normal for a majority of people across the world; especially those having lost their regular jobs due to the pandemic. Hence, the social sector is again emerging as a new soft superpower for startups to disrupt.
- Business – In the new normal, the new way of doing business is online. All business-related aspects, right from having a remote workplace to predicting business outcomes, have been harnessing technology like never before. Artificial Intelligence (AI) and Machine Learning (ML) are the best byproducts of new-age technical innovations. With countries like India known to be startup hubs/innovation centers, modern startups have a golden opportunity to convert businesses into meaningful ones through technology.
- All things Remote – Here, positive impact could be created by startups with respect to offering off-site services. Demand for these services, such as mental health consultations, counselling, various support processes, and even eCommerce has constantly been peaking ever since governments throughout the world imposed lockdowns.
With the above sectors representing a larger picture as far as opportunities for startups to leverage on is concerned, the world in the new normal is slated to witness Industry 5.0 quickly than expected.
