The concept of smartphones and electric cars seemed like a pipe dream 20 years ago, but today, nearly 6.92 billion people, or 86.4% of the global population, have personal smartphones. Governments worldwide are moving toward a green future by encouraging the use of electric cars instead of vehicles with combustible engines.
Investing in burgeoning technologies could increase your wealth within the next two decades. Take look at some of the most promising technologies poised to catch on.
Collaborative Drone Teams
Amazon.com Inc. made headlines in late 2022 for finally rolling out “Amazon Prime Air” which uses drones to deliver packages. The program has been off to a bumpy start, but the model is becoming increasingly popular. This includes some startups not just using drones for one purpose but startups developing software for teams of robots to collaborate to accomplish tasks like a well-regulated workforce.
AvaWatz, for example, is doing just that and working with the U.S. Army and Air Force to make it happen. The collaborative robotics market is predicted to reach $2 trillion by 2030. AvaWatz has received over $2 million in research and development funding from the Department of Homeland Security and the Department of Defense to develop this. AvaWatz has even raised over $1.6 million from retail investors to make it happen.
Generative Artificial Intelligence
In recent months, generative artificial intelligence (AI) has taken a much larger role in daily life than normal. ChatGPT is rewriting curriculums and being studied around the country. But that’s just the beginning.
For example, RAD AI is a startup using generative AI to increase the efficiency of marketing campaigns with the world’s first AI marketing platform built to understand emotion.
Other companies like GenesisAI are building marketplaces to help “democratize AI” by allowing any business to integrate AI into their existing model or business. With the slow rollout of ChatGPT-4, AutoGPT, and other AI-based technologies meant to increase efficiency, businesses that start looking towards AI to increase efficiency will be left behind. And with companies like GenesisAI helping them do it, it will certainly become a larger part of consumers everyday lives.
Other types of generative AI examples include programs used to generate images, paintings, drawings, songs, text-to-speech and full videos using nothing but AI.
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Commercial Space Exploration
2021 was a pivotal year for commercial space exploration, with startups such as Jeff Bezos-backed Blue Origin LLC and Elon Musk’s Space Exploration Technologies Corp. (SpaceX) successfully kickstarting commercial space travel. Virgin Galactic, backed by billionaire Richard Branson, also launched the first fully crewed flight to the edge of space in July 2021.
These startups are gearing up to begin commercial space travel by 2024. But given recession concerns and supply chain issues, no concrete plans have been made. Many companies delayed their schedules by at least a year as the macroeconomic headwinds piled on.
With tickets priced at nearly $500,000 each, commercial space travel is currently only accessible to high-net-worth individuals. But you can expect prices to drop over the next two decades, as companies invest heavily to develop sustainable space stations and other infrastructure. China Business Knowledge predicts space travel to become more affordable over the next 15 to 20 years, stating, “Many people alive today will have a real chance of traveling to space in their lifetimes.”
Brain Computer Interfaces (BCI) & Brain Tech
Brain Computer interfaces are implants in one's brain that enable a person to control an external device using brain signals. Many of the early uses include helping people with disabilities take back control of their life.
Some of the biggest names in tech are raising hundreds of millions to develop these things too.
Neuralink recently secured $205 million in a Series C funding round, with participation from Alphabet Inc.’s Google Ventures, ARCH Venture Partners Founder Robert Belson, OpenAI CEO Sam Altman, and other influential investors.
However, Musk isn't the only one pouring significant resources into brain research. Microsoft Inc. Co-Founder Bill Gates and Amazon Inc. Founder Jeff Bezos have also invested in Synchron, a startup focused on deciphering the brain's neural code.
Synchron, another leading developer of BCIs raised $75 million in its Series C round, which included investments from Gates Frontier, Bezos Expeditions, ARCH Venture Partners, Alumni Ventures, and numerous other venture capital funds. The funds raised will help accelerate the development of Synchron's first platform product, the Synchron Switch, a brain-computer interface (BCI).
Non-invasive surgery solutions are also becoming more prominent. For example, TruBrain is a startup building FDA-cleared wearable technology and supplements for brain health and anxiety control.
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