Algorithmic business is on its way to dominating the future economy

FUTURE TRENDS by Startling Brands, Algorithmic Business, Illustration by Mario Dzurila

Algorithms were behind almost every single successful business story in the tech industry for the past two decades. They helped Uber become the largest taxi company in the world despite the company not operating any cars, and made Alibaba into Asia’s biggest retailer without it owning a single piece of the inventory. Algorithms also write 2000 business articles per minute for the Associated Press and can cognitively create new recipes for delicious meals . Algorithmic business is booming and, as Gartner predicts, is about to become ubiquitous . As we exponentially generate more massive amounts of data, we will need better algorithms to make use of them. This will create a new marketplace where, in the future, companies will be able to purchase specific algorithms instead of developing them on their own.

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