For many entrepreneurs, technology is far more than a means to an end and a tool for running a business. Technological advances are creating a whole new era of devices, applications and markets. “Switched-on” entrepreneurs who see the opportunity early recognize the massive returns that can be gained by moving into a technology at a very early stage in its development.

Here are three of the most exciting technological developments that could create your next generation of business opportunities:
Power in Your Palm
The mobile phone is increasingly becoming a “remote control for life.” Already, smartphones are outselling laptops around the world, and an increasing range of developments and add-ons could see us managing our lives from our cell phone.

Future phones will come with holographic displays, projection screens and keyboards, text to voice conversion, voice recognition and instant translation. As you walk the streets, your phone will act as a personal tour guide, scanning restaurants and presenting you with a list of open tables. What’s more, your cell phone will instantly notify you if any of your friends are in the vicinity.

In the future, your phone will act as a credit card, MP3 player, video player and remote control for game machines. If that’s not all, a built-in health monitor will assess your vital signs and even issue a warning when you appear to be getting too stressed. Every application you run in your business will be tailored for delivery on a cell phone, and a whole new range of applications will emerge specifically for the cell phone industry.

Feeding on Technology
The planet’s population is expected to rise from 6 billion to more than 9 billion by 2050. What’s more, improving incomes and lifestyles around the world are driving up the demand for basic and exotic delicacies. Current approaches to farming and food production simply won’t deliver the output required to meet this demand. We will wind up having to explore new technology-intensive approaches to feed a hungry planet.

In the future, we will see numerous developments, such as a commercial scale, test-tube rearing of meat; the advancement of inner-city farms; and facilities that will consist of multi-story greenhouses to provide year-round, indoor food. In fact, experts are currently working on next-generation packaging that will monitor antibodies in the food it is covering – the presence of dangerous toxins will be signified by an “X” appearing on the wrapper – automatically notifying store staff and kitchen workers that the food has gone bad.
 
Anytime, Anyplace, Anywhere
For many years, manufacturing industries have used “3-D printers” to print wax prototypes of the item to be manufactured, which is then used to create the manufacturing molds. There is now great excitement over the possibility that enhanced versions of such devices could be used as desktop manufacturing centers, enabling us to print anything at home. Instead of ordering goods via the Web or visiting a store, we could simply buy a recipe and then print the item in our own home.

The future of technology is exciting, to say the least. As entrepreneurs, it is imperative that we continue to keep an open mind and embrace emerging products and services as they’re realized. It is only a matter of time before these technological advancements rock the business industry, advancing the entrepreneurial cause in the process.