Octopus Ventures backs next-generation entrepreneurs who are driving significant change in three key industries or âpodsâ. These are the Future of Health, the Future of Industry and Deep Tech. We asked Simon King, Partner at Octopus Ventures, to share the five key Deep Tech trends that offer the potential to power the next industrial revolution.
Will artificially intelligent robots end work as we know it? Thatâs one of the big questions Octopus Venturesâ Deep Tech pod is debating. Deeply immersed in the latest technological thinking, the pod discovers and backs the entrepreneurs who will reshape the way we live, work, and build things.
âThe industrial revolutions of the past were driven by innovations like steam power, electricity, transistors and microchips,â explains Simon. âWeâre looking for technology that will have that kind of impact.â
So, how does the Deep Tech pod spot genuine game-changers among âeverydayâ innovations? âWe spend a lot of time tracking the past and thinking about future trends,â says Simon. âWe get proprietary insight from companies who come in to talk about their latest ideas. We also go to conferences, speak to academics and experts, and read a lot too. Everyone in this pod lives and breathes technology.â
As you might expect, this landscape is constantly changing, but there are five areas that Simon and the Deep Tech pod are particularly excited about.
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Merging human and computer interaction
âIn a short period of time, weâve gone from using mainframe computers located miles away, to carrying computers in our pockets,â says Simon. âBrain sensors are some way off, but Augmented Reality and Virtual Reality are already bringing humans and computers even closer together.â
Waveoptics, backed by Octopus Ventures, designs and builds pioneering Augmented Reality displays. Positioned like the lens in a pair of glasses, Waveopticsâ transparent displays allow digital information to be superimposed on a userâs view of the outside world.
Where this technology might take us is still an open question â and according to Simon, thatâs the way it should be. âWe donât need to have a precise vision of the future â thatâs the job of science fiction. I think about our work like shovels and gold miners. Weâre not hunting for gold. Weâre backing the people who make the shovels.â
Predicting the future might be the work of science fiction, but history can still give us clues. âLooking back gives us a very broad idea of how the future might look,â explains Simon. âThe physical distance between humans and computers has dropped so dramatically, I believe that theyâll sit within our bodies in the near future.â
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Sophisticated coding
It takes a lot of work to make things simple. A major focus in software development right now are âlow code/no codeâ platforms, that allow non-developers to build web or mobile apps. âCoding used to be a very precise language, but with AI, we can use data to show computers the difference between right and wrong,â says Simon.
Amplience, part of the Octopus Ventures portfolio, is transforming the world of e-retail with their beautifully simple Content Management System (CMS) platform. Designed to empower marketers, planners and creatives to build cutting-edge e-retail experiences, Amplienceâs platform means that traditional bricks and mortar retailers can build strong online stores, without technologists or deep e-commerce experience.
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Intelligent robotics
Often, the technology that the Future of Industry pod backs is so advanced that there isnât a ready market for it, but Dogtooth is an exception. The companyâs harvesting robots use machine vision and AI to intelligently detect and pick ripe strawberries.
âStrawberry picking is a complicated problem, because each fruit ripens and grows differently. It needed a level of intelligence that we couldnât give robots â until now.â
Dogtoothâs AI robots are so effective, Simon thinks theyâll be common to strawberry fields within five years. âFrom there, this technology can take us all kinds of places â different fruits, or in packing and sorting for example. Itâs a really interesting next wave in automation.â
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Edge computing
According to Simon, weâll see a big impact from edge computing over the next ten years, because it can solve problems like bandwidth, processing speeds, and online security.
Edge computing allows data to be processed by local devices, instead of sending it back and forth from centralised data centers. And with faster processing comes the potential for real-time data analysis â which is critical to time-pressured industries like healthcare.
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Synthetic biology
Simon describes synthetic biology as âcoercing life to do useful non-life workâ. Manipulating DNA into next-generation information storage is one promising area. âDNA is very small and compact, and lasts for an incredibly long time,â he says, âHumans have been able to extract information from animal DNA thatâs millions of years old. Imagine what it could do for information storage.â
At the forefront of change
With so many exciting technological developments in store, the future looks uncertain â in a good way. âItâs not up to us to build or predict the future. But, by keeping our finger on the pulse, and seeing the opportunities that entrepreneurs see â weâll continue to be at the forefront of change.â
For more information about the Deep Tech pod, and how Octopus Ventures is helping pioneers to change the world, visit octopusventures.com.