2020 is the year that many experts believe a new wave of experimental technologies will finally become commercially viable. The business landscape is also ready for new advancements in process and technology, which will only accelerate the growth of certain industries. Let’s take a look at some of the top fields for entrepreneurs to enter in 2020.
What Industries Will Boom in the New Decade?
Labor may be moving toward automation, but those machines still need human input and oversight. Individual AI specialists average $140,000 per year, and the field is growing. You can kick-start your development in any industry if you know how to control the machines that run a business, so vertical moves are much easier to engineer.
If you have an entrepreneurial mindset and the ability to find specialists, you also could have unprecedented opportunities for movement, as well as the ability to future-proof your involvement there. Everybody can benefit from AI, and the need will only grow in the next decade.
The development and operations (DevOps) portmanteau has been a boon for R&D specialists who were looking to integrate into a world of digital transformation. As the discipline expanded, professionals found that security was just as important as the Dev and Ops part—after all, if you can’t protect what you’re creating, then you may as well give it away to someone else.
Companies seem to embrace the DevSecOps term even more than DevOps, and this is great for coders and digital specialists who are ahead of the curve. If you know how to build security into a development and operations process rather than bolting it on, you can quickly scale without needing to wait on your initial investments to turn around.
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Elderly Health Care Specialist
The healthcare industry continues to expand as Baby Boomers age into retirement. Life expectancy has also increased around the world, so more people will need to be taken care of in the coming decade. Even if you do not plan to earn a degree in a medical field, there are many ancillary company types that you can direct toward this audience.
As an entrepreneur, you know not to limit your business opportunities by other people’s definitions. Your specialty can be virtually any service-based business that focuses on retirees. Quality of life is just as important as medical services, and you can enter the market from virtually any angle.
Rural municipalities in developed countries are making it a priority to get connected. There is also a huge push to ensure emerging markets can participate in Industry 4.0 and 5G. Bringing a modern telecommunications infrastructure into these areas opens them up to other types of commerce, which is something that many local governments can easily support. Savvy entrepreneurs may be able to find an opportunity to work directly with city and county officials to expand a telecommunications structure.
Combining telecommunications and medicine, the industry of telemedicine is also growing. Many people in rural areas forego health care because they need to travel far distances to see specialists. In areas with lower-population densities, it can also be challenging to navigate a network of private practices and hospital affiliations, especially when it comes to sharing medical records.
Telemedicine helps connect patients with their physicians through video calls and other long-distance tech to make successful diagnoses and monitor progress—without the overhead costs of travel.
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Entrepreneurship is always disruptive. These suggestions can help inspire your business strategy, but they shouldn’t dictate the end goal. The most successful business people in 2020 and beyond will capitalize on their own innovations and vision. In the coming decade, there will be more opportunities for technologically-savvy leaders with their eyes open to new ways of connecting.