Innovation has always been a driving factor in emerging industries. From Henry Ford’s development of the first auto construction line in the 1900s to Tesla’s revolutionary car powerplants, technology has been a catalyst for change. Here are some of the technological advances that are altering the way people make money, make decisions and get ahead in 2021.
Lithium Ion Supercells
Ever wondered how Tesla cars manage to have such a long range? The secret lies in a new way of stringing together super efficient Lithium Ion batteries into supercells – essentially large powerpacks made up of many batteries. These supercells are by far the heaviest component of the car’s mechanical workings – far larger than the motor, which is the size of a watermelon.
Producing batteries able to power a practical car is one of the big achievements that has led to Tesla becoming a vast manufacturing giant. There is no doubt that the electric car industry is booming, with many established car makers attempting to establish themselves as players.
The cannabis industry is an area of absolutely huge growth. This has been partially due to the creeping legalization of TCH for recreational use, and partly because of the popularity of CBD for therapeutic purposes. The isolation of these cannabinoids from the raw plant is achieved using a process called hydrocarbon extraction. Hydrocarbon extraction involves the use of a hydrocarbonate substance such as butane to dissolve cannabinoids away from the plant, which can then be isolated using heat. Companies like PDX Gold in Oregon have seen their stocks rise thanks to legal cannabis outfits investing heavily in their extraction equipment.
The Internet of Things
The development of the Internet of Things has been truly fascinating. Some experts predict that the spread of IoT technology will kickstart a fourth industrial revolution, although this has been slow to materialize due to the grueling effects of the coronavirus pandemic.
Simply put, an internet of things is a network of ‘dumb’ objects made ‘smart’. Items that are generally considered to be passive – such as toothbrushes, watches, mirrors and tools – will become active. Objects will collect and communicate data, allowing them to aid human beings in creating solutions to problems. It sounds complicated (and it is), but the aim of creating networked objects is to make our environments more responsive to our needs.
Big Data Analysis
Almost all thriving companies have big data analysis to thank for some of their success. Modern business strategy is largely based on the understanding of trends, risks and prospects. By collecting and analyzing the data that consumers produce when surfing the internet, buying products or making complaints, business strategists are able to create accurate pictures of the environment in which they are operating.
Big data collection and analysis is controversial – it muddies the water somewhat in terms of individual personal choice for the consumer. Regardless, it is safe to say that it is here to stay, and driving growth in many emerging industries.