Many people have great ideas, and in some cases, they are able to implement those ideas. Not all of those launches are truly successful however. One reason, in many instances, is that the idea lacked the spice, the sizzle, the something different that really made the application or concept stand out and able to move to the next level. They lacked an added layer of technology—the real value consumers and investors demand.
Technology, like spice, is the extra bit of attention, the extra layer of flavor that can improve your product and make it longer-lasting; that can take it from your original vision and evolve it into other opportunities. Without technology, your product may seem bland and boring, or may easily be replaced by one that has that added ingredient.
Need an example?
Let’s say you have an idea for a new dating app. There are many of these already, so what is going to make yours stand out? What if you add technology that is able to analyze user behavior to predict better matches? That would be an interesting addition within that realm.
What if though, there was a way to use that same technology and application and apply it to marketing campaigns, or human resources recruiting efforts to find the best match, in this case, the best candidate for the job? In this scenario, not only have you added value to your original vision, you’ve created something that is unique and transferable, and that can help your vision grow.
As a founder, your first goal may not reach beyond your initial idea, but your developer can help you see potential you didn’t imagine.
Information is something; what you do with it is everything
People may say it’s all about the numbers, but I say it’s all about what you do with the numbers.
Deep learning is a form of machine learning based on data. Data goes beyond numbers to imagining and driving future technological functions. Why have data unless it can lead to responses, actions, and cause and effect situations. It can be about computers analyzing human behavior to be able to replicate it, or it can be about improving decision-making capabilities. The bottom line is, data must have a purpose so it is not about the numbers but their function.
What kinds of technology are we talking about?
There are many technologies available now, and many yet evolving. It is important to know that these do not need to be within the realm of the founder’s experience. There are numerous experts who focus solely on specific technologies and can either offer pay-for-use or partnership opportunities under which you can gain access to these advanced technologies. Most of the cloud providers like Google or Amazon Web Services provide dozens of solutions about Artificial Intelligence, big data processing and Internet of Things connectivity.
Artificial Intelligence (AI)
AI allows computers to complete tasks that previously required a level of human intelligence. Examples might include speech recognition, visual perception, or the nuances of language translation. What applications might exist that do not already? How do they factor into your original vision?
Blockchain is described as a decentralized database, a place that permanently holds records that are tamper-proof and so provide incontestable evidence of transactions. Bitcoin is probably the biggest current example, but there is potential here for things like copyright, or perhaps legal or other time-based functions. What other transactions, decisions or ideas might need to be recorded?
Internet of Things (IoT)
IoT describes objects that are enabled to connect to the Internet. There are millions of possibilities for IoT. Think wearables, think anything with a sensor. Now think of other uses that could be valuable. What would be the savings in effort, in life perhaps, to have a sensor by a desert oasis that will let people know there is water and whether it is worth the effort to make the trek? What would be the cost savings to have a sensor on a garbage receptacle that triggers a pick-up request rather than a pre-scheduled stop that finds the container empty? What about Near Field Communication (NFC) that connects electronic devices to enable payment (think of your tap credit card) or Bluetooth?
What is important to understand is that the possibilities are endless, but they—technological additions—are important to consider if you want your project to really thrive and grow.
Did you find it beneficial to add technology to your project? Share your story with us below.