10 Tech Trends Every Entrepreneur Needs to Know

June 24, 2015

9:00 am

On May 21, several top venture capitalists got together at the 17th annual top 10 tech trends dinner hosted in San Jose by the Churchill Club to discuss what they believe will be the biggest tech trends between now and 2020.

According to Forbes, bigwigs such as Steve Jurvetson of Draper Fisher Jurvetson, Jenny Lee of GGV Capital, Rebecca Lynn of Canvas Venture Fund, and Shervin Pishevar of Sherpa Ventures were there to discuss trends and share their opinions. They shared what they believe would be huge in the coming years, and the audience, made up of hundreds of execs, managers, scientists, and techies, agreed or disagreed.

All the venture capitalists present agreed that trends indicate a need for much higher knowledge of information technology, computing, and general tech among not just executives and managing professionals, but even the average employee.

Jeremy Cioara from CBT Nuggets, an IT professional training program, sums up this need perfectly. In a blog post, Cioara says:

“In a nutshell, we’re living in a rapidly changing world where ‘on the fly’ collaboration sessions involving voice, video, and data sharing are becoming commonplace. Executives and employees have their expectations set high when it comes to supporting collaborative communication within an organization.”

Businesses today demand a thorough and up-to-date knowledge of the trends and evolution of technological business processing. That’s why it’s vital to know what experts believe will be the biggest upcoming tech trends in our future.

1. On-demand computing

This involves a combination of current computing processes with artificial intelligence. It’s computing you won’t be able to see, and you don’t need to assist, but you’ll know it’s happening when the results show up.

It doesn’t seem possible, and the audience was unsure about this one, but Pishevar was adamant it will happen.

2. Startups to gain more online banking power

Thanks to crowdfunding programs like Lending Club, the experts predicted that banks are losing power in the loan department. The upcoming JOBS Act will also accelerate crowdfunding, because it will allow startups a level of unrestricted ability to raise as much as $1 million via crowdfunding.

3. Explosive data from personal profiles

The Internet provides the ability to watch individuals and collect copious amounts of information. The experts believe this will lead to an unprecedented amount of big data from personal profiles becoming available for marketing use. There wasn’t much disagreement here.

4. The Skynet economy

Jurvetson predicted lower-orbiting satellites will make broadband possible for the entire world. It will pave the way for more affordable Internet access, which will be especially useful for third-world countries. The audience couldn’t deny either the utility or the likelihood of this.

5. Shared ownership of cars

Gurley believes that shared ownership of cars will be the next big thing, as people use apps such as Uber to get the services we need when we need them. There was some disagreement about this: People like their cars too much.

6. High-speed transportation systems

Pishevar also suggested that transportation modes such as the Hyperloop and fleets of drones will revolutionize our current transportation system. Though most of the audience liked the idea, they didn’t think it would happen within the next five years.

7. Women in tech

The Forbes report suggested the number of women in technology fields is up 10 percent from last year. With an increase like that, it continued, half of all computer science students will be women.

8. Online economy for the individual

Lee argued that mobile devices and other remote services will boost the number of people online by two billion. The digital economy will revolve almost exclusively around the individual, and eliminate the need for physical storefronts.

The audience and the panel weren’t convinced that storefronts would be eliminated that quickly, or even reduced.

9. Robocars

Thanks to the automation of car technology, which promises both to stop accidents and to link to all of our devices through Wi-Fi, Jurvetson argued that 2020 will see independently functioning cars that drive themselves and prevent a myriad of violations and accidents. Most of the crowd loved this idea.

10. Mobile everything

No one disagreed that mobile applications will only get bigger. The convenience of using mobile apps and websites to perform almost everything isn’t going away, and will steadily improve.

Following the conference, the audience voted on their favorite tech idea, and the robocars won. This and many other technology trends intimate a safer, more connected world.

 

Image Credit: Flickr/JD Hancock

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Larry is an independent business consultant specializing in social media trends, business, and entrepreneurship. Follow him on Twitter and LinkedIn.

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