While traditional businesses still rely on themselves to manufacture and sell physical products, new-generation AI-assisted startups have thrived by providing intermediary services to other businesses. Today, customers can see such unexpected developments across all industries.
In the construction industry, OpenSpace is revolutionizing project management. The start-up has successfully enabled efficient management of a project regardless of geographic location. Using high-tech cameras and AI-powered software, OpenSpace allows contractors to monitor progress without needing to be physically present on the site. Its time-lapse technology allows multiple teams to view updates, communicate and track developments for every stage of the build.
“We’ve also been developing automated progress-tracking so that a construction company can just hit a button and know whether they’re on schedule or not,” said OpenSpace CEO and Co-Founder Jeevan Kalanithi.
Similarly, Furukawa Sangyo North America wants to venture into the technology space with the establishment of an office in Silicon Valley, intent on forming partnerships and joint ventures with companies in other sectors.
“Our main cash engines are the semiconductor and automobile businesses. Since last year, we have made a new business line in the medical sector which is now growing,” Furukawa Sangyo North America President and CEO Ryo Watanabe told GMI POST.
However, Watanabe stressed that the company is also partnering with technology companies in Europe and South America. Its subsidiary Furukawa Electric Group has established a Digital Innovation Center in San Jose, California, apart from those opened in Hungary and Thailand.
Clearly, every business has had to evolve and adapt if they are to improve customer service and strengthen their own value proposition. The rapidly changing landscape indicates that digital transformations are no longer sufficient to grow.
It used to be that businesses adapted to new technologies. Now, new technologies drive how business is done.
