Expert opinions, STARTUPS

Top 3 promising directions for a startup in 2024

Today’s market is changing rapidly and constantly developing, so in order to stay afloat, companies need to keep abreast of the latest technology trends and use them to improve their products and services. It is difficult to imagine a modern business without automation or the use of artificial intelligence (AI). AI plays an important role in many industries, especially startups.

By Freepik

Innovation and modern business

Startups should choose the technology that is best suited to their specific tasks in order to find effective ways to interact with customers, optimize business processes, and create new products that can attract the attention of consumers. This is not just a trend, but a necessity that allows you to be competitive.

Promising directions for opening a business

Three areas where it is worth developing projects can be called the most relevant and interesting from the point of view of investments.

Health care

AI has huge potential in the field of medicine, from diagnosing diseases to developing a treatment strategy.

It is also worth considering the possibility of creating new tasks in medical robotics, which is developing every year. Innovations in this area will allow minimally invasive operations without surgeon intervention. In the process of rehabilitation, robots will be able to take on round-the-clock patient care, delivering food and medicine.

New breakthrough solutions also affected health monitoring: in addition to smart watches, special patches have become an innovation; they can control blood pressure, detect an increase in the amount of fluid in the skull and even conduct ultrasound diagnostics of internal organs.

Telemedicine is also a promising area for new projects. Amazon, a leading player in the field of voice AI, already received a patent in 2018 for the technology of determining the state of health through speech analysis. The documentation states that manifestations such as cough, difficulty breathing or crying may indicate that a person has a physical or emotional disorder.

Financial technologies

Start-ups can explore financial advisory automation, portfolio optimization and anti-fraud.

With the growing digitalization of the banking sector, data protection is becoming more relevant. Startups play a key role in creating innovative solutions to combat violations. Cybersecurity uses cutting-edge technology such as AI, machine learning  (ML) and blockchain to prevent crime.

AI and ML help in detecting suspicious activity and unusual transactions by analyzing large amounts of data in real time. These technologies can study user behavior and identify anomalies that indicate attempted fraud.

Blockchain, in turn, offers a unique approach to protecting information. This technology allows creation of decentralized and genuine transaction records, making it nearly impossible for data to be hacked or tampered. In addition, startups are developing biometric authentication solutions that prevent unauthorized access.

Supply chain and logistics

Here it is worth developing solutions aimed at predicting demand, optimizing delivery routes and automating warehousing. It is important to develop ideas that meet the needs of end users. This can include creating intuitive interfaces, tracking delivery, and providing a high level of customer service.

Startups can provide clients with tools that allow them to analyze inventory data, enabling them to make informed decisions about reserve management. The robotization of this industry is also very relevant. The innovation was the use of drones for a quick and efficient inventory of stock balances.

Advantages and challenges of AI application in startups

The use of AI in startups has many advantages. It helps to speed up processes, improve the accuracy of actions and create new opportunities. However, there are also problems: high development costs, the need for specialized skills, ethics and security issues.

At the starting stage, do not invest all funds in the main product, but develop an MVP (minimum valuable product). This will allow the team to collect the maximum amount of feedback from users at minimal cost.

Thus, healthcare, the financial sector and logistics are three promising areas for AI-based startups. Given the ongoing development of innovation, these areas offer a broad field of activity for technologically advanced entrepreneurs.

By Anastasia Kondakova, investor, co-founder of the tech brand of home goods Redecoro

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