The “profound enabling power” of deep tech has the capacity to effect genuine change. It uses cutting-edge technology to make real societal changes, and it’s never been more relevant. The global pandemic, the urgency of the climate problem, and the rapid expansion of global populations have put further burden on already vulnerable systems, and deep tech is aimed to address these fundamental concerns.
According to TechWorks, “deep tech” refers to “technology founded on concrete engineering innovation or scientific developments and discoveries.” Its main goal is to develop new solutions to society’s most pressing problems, such as chronic disease, climate change, renewable energy, and food supply. Deep tech companies differ from regular tech corporations in that technologists and scientists work together to achieve a common purpose.
The most important deep technologies:
Deep tech refers to a broad range of technology fields that aren’t focused on providing end-user services. These are some of them:
- Artificial Intelligence
- Machine Learning
- Big Data
- Language Processing
- Vision and speech algorithms
- Block chain
- Advanced Material Science
- Photonics and electronics
- Quantum computing
Top five applications for Deep Technology
A wide range of industries could profit from deep tech’s enabling qualities. Here, we’ve chosen to concentrate on a few of the most important topics.
According to the Boston Consulting Group, in 2020, the health industry will account for the most deep-tech startups (51%). Precision medicine, which allows technologists and scientists to collect precise health-based data and generate new tailor-made treatments, has already made great progress. AI diagnosis, wearables for health tracking and diagnostics, electronic health records that allow healthcare providers to personalise treatments, and virtual appointments are all examples of deep tech applications in this industry.
Computing and Processing
Since its inception, the computer’s basic design has remained relatively unchanged. All of the world’s modern computing demands are met by the same type of computer, whether it’s putting an online grocery order or deciphering large datasets. Computers can be custom-built to address specific regions or issues using deep tech.
Quantum computing is one example of how deep tech could improve computing and processing capabilities, which is necessitated by the adoption of other cutting-edge technologies, such as machine learning, which have their own computing and processing requirements. Furthermore, the current computer infrastructure’s energy demands render it unsustainable in the long run.
AgriTech and Food
Food insecurity is one of humanity’s most pressing problems today. As a result, deep tech solutions that can help us move away from the industrial era’s typical farming techniques and toward more sustainable production methods are desperately needed. Innovative food and agricultural firms are leveraging technologies such as big data, blockchain, and biotech to create networked farming systems with extremely precise predictive capabilities, allowing farmers to grow and harvest crops with maximum efficiency, resilience, and yield.
Synthetic biology is another area being investigated, with the market expected to reach $27 billion by 2023, according to The Business Research Company. It is thought that by using it, we will be able to accelerate natural system evolution and create new, more sustainable systems.
Clean-tech and Energy
Deep tech businesses are investigating hydropower generating and boosting the efficiency of wind and solar energy as part of a fundamental overhaul of the energy sector. One of the most significant barriers to renewable energy adoption is storage, which a slew of inventive firms are attempting to address by upgrading batteries and optimising their use with Cloud-based technology.
Governments must construct infrastructure to sustain the growing population. Transportation networks, housing, sewerage, power plants and supplies, and other infrastructure are all included. Those same governments, on the other hand, are under increasing pressure to cut carbon emissions and promote long-term solutions to population increase.
Furthermore, as we intrude deeper into natural areas, global pandemics like as COVID-19 will become more common, according to the newest G20 observations. This means that whatever we build next must be built with environmental sensitivity, employing sustainable manufacturing processes, and supporting a higher quality of life for humans. This will necessitate a large joint effort from urban planners and forward-thinking technologists, as well as significant funding.
To solve the challenge, it suggests that countries use public-private partnerships (PPPs), as well as deep technologies and green finance.
What are the deep tech challenges?
Deep tech enterprises have a lengthier R&D cycle than ordinary startups, which means they take longer to begin up and require more resources. Deep tech businesses may also find it difficult to acquire funding, even from forward-thinking angel investors, because they find it difficult to appreciate the potential of an idea that hasn’t been explored, due to the complexity of the problems they’re attempting to solve. Because of the theoretical nature of deep tech, development experiments may fail if they are not preceded by a thorough technical feasibility analysis.
It’s purposefully attempting to prove the previously unprovable. However, as digital progress accelerates, expenditures have gradually increased over time, and traditional technology is nearing the end of its usefulness. According to a new research issued as part of the European Startups Project, deep technologies such as AI, robots, quantum technology, and blockchain are receiving a quarter of all European venture capital funding.
Constalytics: Graph analytics, machine learning, natural language processing, and other AI technologies are used to create innovative and cutting-edge products and solutions.
Couture.ai: Full-stack artificial intelligence platform for hyper-scale enterprise implementation, enabling worldwide leading enterprises to improve their users’ omnichannel experience.
Datacrux Insights: Using data-driven digital solutions to transform businesses and provide revenue and growth prospects.
Delium: Building AI/ML to convert data to higher intelligence and self-drive the fundamental function of retail enterprises, strongly believes that automation adoption is crucial for the success of any organisation.
Drive Analytics: The VC-backed, award-winning firm formed with the goal of extracting information from images and videos and combining it with text analytics.
Manjeera Digital Systems
Manjeera Digital Systems: Bringing a fundamentally new method to computing with extremely high performance while consuming very little electricity.
MateLabs Innovations: Envisions a movement to make AI accessible to all men without requiring them to learn the subtleties of coding.
Rsmart is a global technology solutions company that has created cutting-edge cloud-based products with a track record of satisfied clients, Created mobile apps for aviation.
The financing houses believe the disruptive technology services industry has enormous business potential. Many early-stage investment firms believe that India’s next crop of Unicorns will come from the “Deep Tech” sector. Deep tech is a term used in the industry to describe a group of organisations that employ Artificial Intelligence (AI), Machine Learning (ML), and other analytical techniques to discover new business models. It is spreading its flavours among Silicon Valley gurus and has established a considerable presence in India.