Technopreneurship: A Foresight into Edge Computing by IoT-based Start-ups

The curiosity: Entrepreneurship has been the root centre for crafting economic activities responsible for wealth creation, job creation and economic development. In a world posited by volatile, uncertain, complex and ambiguous business environment, Covid19 accelerated technology based start-ups. This was as a result of creating a lean start-up that envisaged distancing, exploiting the synergy in an online world, while optimising on resource and capabilities. The period witnessed an emergence of technology savvy entrepreneur cum CEO, thereby leveraging upon Technopreneurship innovation. The world witnessed these new age Technopreneurs and budding CEO’s deploying a lean start-up approach, capitalising and exploiting opportunities for business creation. Mr. CEO are you catching up?

Here came an entry for accelerating areas in artificial intelligence and edge computing that became one of the buzz words as a intrinsic combination. The author found these creative combination integrated into a third level technology combination termed as the Internet of things (IoT). Fascinated by its quick emergence and adaptability, curiosity was to explore the domain of Technopreneurship, the Foresight into Edge Computing by IoT based Start-ups. 

The uniqueness of this combination has been able to generate viable businesses, deploying IoT at different levels. It has been disruptive by its nature, while the start-ups have been able to further develop application program interface (API). This has resulted in creating unified systems that are applicable for most sectors entailing activities like managing Smart Number plates of cars, Smart Identity card, Biometrics, Voice-recognition, Video footage, Smart Sensors, Simulation, Autonomous robots, Nanotechnology, Drones and several others. How much as an entrepreneur with a foresight are you prepared?

The Journey

As we enter the digital age and pace the revolutionary progress made by artificial intelligence, we witness the immense contribution this technology is making in human lives. Around the world the CEOs agenda is reinforcing the wave, comparing to what electricity contributed to human growth, so is artificial intelligence is going to do so! At the same time few intellectuals are of the opinion that this advancement and application by Technopreneurs may have a threat proposition to humans while at the same time, few opine that it is about to transform most areas be it business quality, analytics etc. A combination of these technologies is likely to impact the Chatbots post the initial success of Google Assistant (GA) Microsoft Cortana (MC), Amazon Alexa (AA), Apple Siri (AS) and Samsung Bixby. This has certainly added and flexed the service environment. This is the new age industrial revolution at a very high scale. Please look around and stealth your observations base do weak and strong signals. 

So what does IoT does? Interestingly, in a digital world we are pacing around, we can witness the eye of the machine in the form of an ‘IoT’ camera. They capture and transmit video signals to a cloud based server. The collated videos are further processed on the cloud server by using the motion detection software. There is a significant load on the server engaging clip management at a contemporary rate, storing and transferring. This is where intelligent systems come in play. The new age Edge computing manages the difficult permutations and combinations for the sensor computations. Hence, the capturing cameras are able to utilise the intramural computer to deploy and use the motion-detecting software tool and revert with the video to the cloud based on requirements. Thus, the intelligent system assist in managing the cloud server, storing the principal footages without succumbing to overload.       

Genesis

If we do some mining and recall, at the initial stages, computers as heavy machines were interconnected in the form of servers, perhaps termed as local severs. These in house servers were termed as “data centre”, providing intermittent flow of storage data. These in premise systems were connected via local area network. For a common man’s understanding, the computing took place at the network edge within the local area network. In today’s parlance, all computers, processors, IoT devices, routers and LAN are typically considered as an edge, which is connected geographically via the internet in establishing communication over a large area through cloud servers. These cloud servers are considered to be a data collection repository that can be assessed and managed remotely via a seamless internet mandating a large bandwidth inviting a large fixed cost. At this point start-ups have emerged that have endeavoured into edge computing, minimising data transfer and it latency. At the same time the challenge in maintaining the centralised data. Currently, as per technology estimates the computing edge is much faster as compared to cloud computing.  

In this volatile, uncertain, complex and ambiguous business environment, especially during the covid-19 pandemic, digital revolution was tested and reached its testing nadir. Technopreneurship took a steep rise with entrepreneurs in the technology domain exploiting their synergies in contemplating the problems with the visible opportunities. Those who had foresight, initiated to capitalize this natural deluge of opportunities, while others succumbed. The new age entrepreneurs saw immense demand and its application in government institutions, academia world, corporate world etc. those who had a very-large day to day data handling in terms of managing video footage, voice-recognition, deploying Smart Number Plates for cars, using Smart Identity card, Biometrics, Autonomous robots, smart sensors, simulation, nanotechnology, drones etc. This has been a disruption by these IoT based start-ups offering models that will re-shape the industry. Mr. CEO are you aware?

We endeavoured into the areas that are possibly seen as application outlets for edge computing by IoT based start-ups. Airports (traffic) needs seamless monitoring in the wake of security threats. It includes thermal scanning, sanitisation and database mapping of the passport. Managing government buildings, the RTO, passport office, Ministries, public transport offices, army offices, which need to be secured. Universities and educational institutions need to track students attendance etc. Railway stations very similar to Airports and where mass plus rapid transportation is in place. Hospitals and commercial complexes are also under a scanner. Established shopping malls and hotels have taken initiative significant data on the foot falls, though data integrity is now a burning question. Similarly, housing societies, grocery stores, movie theatres, and even drone surveillance have started integrated this technology. The list of applications is increasing every day and the Technopreneurs are exploiting this market based opportunities via their foresightedness, an ability to envision the future. We are about to witness an explosion on Technopreneurship based start-ups, steered by the new age entrepreneurs having a foresight in integrating edge computing with IoT. The future is much wider, lets witness this transition. 

Written by Dr. Manoj Joshi.

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