5 Apps That Are Re-defining The App-based Start-ups And Businesses
Mobile applications are now not a leisure activity anymore and have become a vital part of human life. There are apps for music, videos, shopping and even dating. This has encouraged many new start-ups to explore new markets with technological support that can be achieved these days.
In the last few years, mobile users have increased exponentially and entrepreneurs are capitalizing on this mobile-first era. While there are many who are still pursuing the conventional markets for their start-ups, there are many adventurous entrepreneurs, trying to make a mark in the unknown territories of the start-up ecosystem. Here we are going to discuss, five such start-ups that are exploring unique marketplaces.
A UK-based Artificial Intelligence-powered Start-up that helps you manage your financial accounts and save more money. The start-up provides dedicated apps over AndroidOS and iOS for financial services. It also provides extensive support to users with a Facebook messenger chatbot.
Saving money is not an easy task with rising expenses and here Plum works like magic. It monitors your bank account linked with the app through machine learning techniques and tracks every penny spent. At the end of every 4-5 days period, it suggests a particular amount to be saved in a Plum account.
This way it helps to save the user’s money every week and help them monitor their spendings and keep a check on them and prompt you to save money. The app has a swift and easy to use the onboarding process for the users. With the use of facebook messenger chatbot, it provides 24/7 support for users and personalized interaction.
Imagine an Artificial Intelligent app informing you regarding some issues with your app or device. This new French Start-up called Packet AI can do the same, by parsing raw data and intercepts the incidents at different levels.
For example, it can help you track the user’s activity on your server and identify the blockage in the interaction and provide you with the information.
PacketAI is integrated directly with the APIs of Datadog, Splunk or Dynatrace to analyze raw event data in real-time. It eases the monitoring of databases, system activities, and other technical functions. It uses supervised and unsupervised learning for parsing the data for incident detection.
Further, it uses Natural Langauge programming to find relative resolutions for the incidents. It comes with a free trial, at the end of which it charges the clients based on number nodes it will monitor.
Worldwide shipments of wrist-worn wearables, inclusive of smartwatches, basic watches, and wrist bands, have already reached 34.2 million units, with a compound annual growth rate of 28.8% in the second quarter of 2019. This goes to say that the wearable markets are on an all-time high.
A few years back a healthcare start-up came to the scene, known as Elektra Labs and with a recent development, it has launched Atlas- a comparative platform for all the healthcare kits and equipments available in the market, including, digital thermometers, Gluco-meters, wearables, etc.
These digital healthcare instruments are in the market for quite some time now but the quality standards and the kind of promises they make are never put under the scanner of comparison and feedback and Atlas is going to change that soon.
alk about Innovations. Chatbots and AI have already made their mark on many industries and especially in the service sector, where many customer services are automated through them.
So, an Austria-based start-up came up with an innovative idea to provide an AI receptionist that can handle appointments, calls and service calls for small businesses.
Yodel.IO is a start-up that provides an AI-based “Digital Receptionist” to provide assistance to SMB over inbound and outbound calls.
Its technology acts as a digital phone receptionist that can be connected to an application with chat capabilities, which can help SMBs handle calls more efficiently. To support this technology, firms can hire android developers to design a chat application that can be connected with the digital receptionist.
The whole idea behind the Start-up is to enhance the call-handling capabilities of small and medium-sized businesses at an affordable price and yet make it of an enterprise standard.
We have already seen a similar start-up called CallerJoy. It has similar capabilities like the Yodel, but, as the Yodel suggests that its technology is much highly advanced and provides more accuracy. Yodel operates on a SaaS(Software as a Service) model, with charges levied on per “seat” per month, inclusive of a phone number per user, unlimited inbound minutes and call credit for outbound calls.
Filling a timesheet at the end of a long hard day can be annoying for any lawyer and equally a challenging job for the law firms to follow up on them. So, a new start-up named “Ping” was formed. It utilizes Artificial Intelligence to track each lawyer’s work and fill out timesheets for them.
Conventionally a lawyer needs to track his time and activities relating to several cases and fill out the all-important timesheets, which can be now done through Ping. It helps lawyers to track and decide bills through machine learning and AI. It also figures out whether an activity is billable or not, for which the client will be billed and a description of the activity and its codification.
There is a huge market potential for such technologies and the same can be leveraged through effective development and strategy by Ping. The start-up also needs to look-up to enter into an enterprise model.
Wrapping it Up: Of all the Start-ups that rise and fall through the market curve, 42% start-ups fail due to lack of market. This is where understanding your market and consumer’s needs come in handy and help you strategize the business model.
Above five are the examples of such unique markets that have been tapped in by these start-ups and are exploiting them well. Innovations and market research can help start-ups produce products that are aligning with the need of the market and customers.
In the 21st century, with a rapidly changing economy, we can see a changing landscape of business. It will inevitably create new business challenges with an increased demand for smart solutions. On the one hand, refined technology is emerging, but oppositely, there is a growing demand from customers for its implementation.
Businesses are increasingly expanding their operations globally. This is no longer reserved for large multinational corporations. Even some of the most disruptive startups with annual revenues of less than $1 million have direct access to multinational markets. The tips discussed here can help businesses looking to go global avoid some common mistakes.
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