- Increased Artificial Intelligence Use– Companies are continuing to find more and better uses for Artificial Intelligence (AI) and machine learning to improve their deliverables, services, and productivity. We saw AI play a significant role in the development of the coronavirus vaccine by helping researchers analyze large amounts of data. AI advancements are also being made in transportation, fintech, security, agriculture, gaming, robotic process automation and many more. As AI becomes more advanced, so will the number of innovations to improve our daily lives.
- Continued Use of Technologies Facilitating Workforce Collaboration – As many businesses are now opting for remote or hybrid work models, expect to see more technologies being developed to provide teams ways to collaborate and execute on project workflow, secure communication platforms, remote training tools, workplace virtual reality, and more.
- Greater Use of Technology Enabling Remote Business Operations – With many start-ups foregoing brick and mortar, and many foreign ventures looking to establish a presence in the United States, we are seeing an increase in the number of technologies and software platforms that will allow companies to remotely operate their businesses similar to a traditional organization. With tools such as virtual addresses (Stable), payroll (Gusto), banking (BankMercury), tool development (Firebase), project management (Clubhouse), and a slew of other on-line based options, companies are able to easily and efficiently run their businesses virtually from anywhere in the world.
- More Innovative Wellness Applications – Innovators are developing new ways to bring mental health and wellness tools right to the user’s fingertips. From virtual therapists to emotional and stress diagnostics to motivational applications, technology companies are finding solutions to make mental health and wellness services more accessible and to deliver personalized treatments, and they are gaining traction. I expanded on these developments in a recent blog post “The Impact of Technology: AI Advancements for Mental Health and Wellness.”
- Advancements in Autonomous Driving Technology – With the workforce headed back to the office in some capacity, some may be hesitant to return to public transportation while we continue to battle COVID-19. Advancements in autonomous driving technology will continue to mature as leading car manufacturers invest and improve the technology for driverless vehicles, especially if the market is looking for alternative ways to commute without being confined to a bus, train or subway station. Manufacturers of the technology may need to address regulatory and safety scrutiny as they push for commercialization of their products.
About the Author and Practice:
Greenberg Traurig Shareholder Chinh H. Pham is co-chair of Greenberg Traurig’s Emerging Technology Practice and is a registered patent attorney with experience in the strategic creation, implementation and protection of intellectual property rights for high technology and life science clients, including those in the areas of software, artificial intelligence, virtual and augmented reality, blockchain, video gaming, nanotechnologies, medical devices, electro-mechanical devices, telecommunications, data mining, and electronic commerce. The Emerging Technology Group at Greenberg Traurig is a multidisciplinary legal team focused on representing entrepreneurs and investors. We guide emerging technology companies through all the stages of their development, from initial business formation through angel, venture capital and cross-over financings to initial public offerings and exit transactions. In addition, we advise institutional investors in their investments into innovative companies at all stages and across industries.