Alice Brasoveanu

Deep Tech and its Impact on Society

We’ve been hearing the term deep tech everywhere. But what exactly is deep tech and what problems can it solve and how?

March 19, 2024 4:00 PM

4 MIN TO READ

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We’ve been hearing the term deep tech left and right lately. But what does it really mean, and what problems can it solve? Let’s explore!

From self-driving cars to medical diagnoses and even predicting the stock market, there’s no running away from the fact that deep tech holds a power greater than anything else nowadays. So there’s no wonder why we’re all contributing to its advancements and continuing to understand its capabilities and especially its effects on our society.

So what exactly is deep tech?

In short, it is an umbrella term for all innovations that are built around technological and scientific breakthroughs. And by that, we mean artificial intelligence, data science, the Internet of Things, machine learning (ML), and even robots. And no, we don’t refer to those robots that we see in futuristic sci-fi movies – although we’re on our way to developing such machines as well. Does anyone remember the human-like robot, Sophia?

The impressive growth of deep tech and machine learning (ML) has been fueled by the increase in data and its availability for analysis. Of course, some may argue against its use.

But we can't deny that it has led to numerous revolutionary changes in various industries and, overall, transforming our lives.

Let’s face it – it’s fascinating to see where the automobile industry has come from today. Especially with the integration of AI (artificial intelligence), automation, and self-driving car technology. Companies like BMW, Tesla, and Ford have been heavily investing in developing fully autonomous vehicles that could drive us home. Even when we’re drunk. And no - we do not recommend getting drunk in the vehicle - even though you’ll not be the driver.

But they are succeeding! Mercedes-Benz has recently released the first Level 3 autonomous car worldwide. This means that now, Mercedes-Benz’s users will get to relax in their seats – still remaining alert enough to take control if needed – while the ghost driver will handle the vehicle.

The advancements in deep tech are not only capable of reducing the number of accidents but also effectively managing traffic congestion, leading to the development of smart traffic management systems. This has become a crucial component in the creation of smart cities, which only highlights the strong impact that deep tech is having on our society.

Take Barcelona, for example! The city has introduced a system called “Sentilo”, which is a real-time sensor platform that collects data from various sources, including parking and traffic sensors, as well as a public transport system. All of these reduce congestion through predictive algorithms to manage the optimization of traffic flow. So, good news! No more traffic jams!

The influence of deep tech can be observed in every industry – there’s no denying that. But such advancements are visible beyond this – and, respectively, in the way we work!

In fact, with the emergence of RPA companies such as UiPath, mundane tasks that were once performed by humans are now handled by machines – machine learning (ML). Indeed, this has allowed companies to improve and speed up their processes. However, at the level of society, it’s undeniable that we are suffering the consequences of these developments, such as job loss and even economic instability. Look at Walmart! In 2019, they laid off around 1000 corporate employees due to automation and machine learning (ML).

However, we should also look at it from another perspective as well! Sure, it has frightened many of us. But despite this, it has also opened the door for a new set of opportunities. Think about it! Data scientists, software engineers, cybersecurity experts, digital marketers – these jobs were not even possible 15 years ago, let alone be considered career paths. With the increased demand for digital solutions, these jobs have become the most sought-after positions right now. After all, it’s no secret that digital marketing and software development has become a hot pick for many Gen Z individuals.

And that’s not all! The future of deep tech is becoming more personal and human, and it’s transforming the way we communicate.

We’re not only referring to social media and its profound impact as a means of communication. Although they have certainly transformed how we interact and share information, deep tech, and automation go beyond that.

With the development of deep tech, we are now seeing more and more personalized communication experiences. Consider Siri, Alexa, and Google Assistant! Virtual assistants have brought interactivity and convenience to another level. Now, we can ask questions, make requests, and get answers in real time without even needing to actually look them up on Google. It’s like asking your friend a question!

And deep tech is not only limited to such consumer devices. Rather, they can be helpful in businesses as well for providing personalized customer service. By leveraging machine learning (ML), automation, and AI, as businesses, we can now automate the operations related to customer experience, which will ultimately lead to increased satisfaction. And yes, we even achieved the level of actually talking to an AI-powered chatbot when calling for information regarding a company.