Network Science June 14, 2022
A great wave of innovation has come in the technological world and the aspect that is riding this wave and going to greater heights is Deep Tech. So, what is Deep Tech? Deep Tech can be defined as the technology behind tangible engineering innovation through scientific discoveries. Its primary goal is to pioneer new solutions to society’s most pressing problems, such as chronic disease, climate change, clean energy, and food production. Deep Tech firms differ from traditional tech firms in that technologists and scientists typically work together to achieve a common goal. We can set Deep Tech apart from other technological innovations because it acts as a catalyst to change and profoundly enables advancement.
Many Deep Tech companies are currently attempting to establish themselves as innovators and succeed. What distinguishes these companies is that they focus on fundamental and defensible engineering innovations rather than incremental delivery of standardised technologies or solely on business model innovation to create opportunities.
Deep Tech spans various technologies on the tech front and can impact diverse applications. This often includes processing and computing architecture innovations, artificial intelligence and machine learning, vision and speech algorithms and techniques, advances in semiconductors and electronic systems, power electronics, haptics, and more. Let us take a look at the various technologies that Deep Tech comprises and how they are impacting innovation.
AI is a broad tool that allows people to reconsider how we integrate information, analyse data, and use the insights gained to improve decision-making. Wearables powered by AI can help patients keep track of their health problems. The automotive industry is gradually transitioning to a tech-driven culture by adopting and implementing AI. AI fraud detectors, applications, and techniques have been implemented to detect abnormal traffic and prevent fraudulent practices.
Machine Learning (ML) transforms traditional computing by allowing machines to learn from data. All of these voice assistants use Natural Language Processing (NLP), which is powered by a machine learning algorithm. Dynamic pricing employs ML technologies to alter the price dynamics of taxis, products, and services. Machine learning is critical in providing security at large gatherings. The technology can help avoid false alarms and detect things that human screener might miss.
Platforms powered by blockchain enable unified secure access to cloud, on-premises, and connected IoT devices. The use of blockchain technology in the media industry has the potential to reduce piracy while also improving content security. Blockchain technology enables real-time, lightning-fast transactions. This has already benefited the BFSI sector by saving time and money. Blockchain can help to eliminate security bottlenecks by safeguarding intellectual property and streamlining project management.
Technology-enabled security solutions are specifically designed to protect the Internet of Things’ connected devices and critical infrastructure. Factories use IoT-enabled machines with sensors, which makes mapping machine workloads, inputs, and outputs simple. Asset management powered by IoT improves real-time visibility of assets and assists businesses in optimising their resources. Public energy grids can be optimised using IoT-enabled machines to balance workloads, predict energy surges, and more equitably distribute energy to customers.
AR is a technological advancement that can help businesses gain more customers and improve overall sales and retention by giving businesses a competitive advantage when engaging customers and acquiring leads. From interior design to architecture and construction, augmented reality is assisting professionals in visualising their final products during the creative process. AR-enabled wearables in manufacturing can help measure changes, identify unsafe working conditions, and visualise design components and structures. AR technology has the potential to improve the depth and effectiveness of medical training in many areas, from operating MRI machines to performing complex surgeries.
Robotics is used because of their high precision, speed, dependability, quality, repeatability, and low operating cost. These robots are programmed to carry out specific tasks. Robots can help to make repetitive tasks easier, such as assembly lines in a factory or collecting large amounts of mundane data. Cobots (robots that work alongside humans) can help call centres streamline operations and handle high volumes of incoming phone or internet traffic, ensuring that communication channels remain open. Robots are force multipliers that have the potential to dramatically transform heavy industries such as equipment manufacturing. They can lift heavy objects more safely and quickly, and they can work without stopping.
Successful Deep Tech ventures assemble multiple talents (including scientists, engineers, and entrepreneurs) to unravel a controversy. They often develop brand-new technologies because no existing technology fully solves the matter. Deep Tech harnesses cutting-edge technologies to form tangible societal shifts, and never has it been more relevant. The world pandemic, the urgency of the climate crisis, and therefore the rapid expansion of worldwide populations has placed added strain on already fragile systems, and it’s these fundamental issues that deep tech is meant to deal with.