Deep Tech is a term used to describe technologies that are based on significant scientific or engineering advances. These technologies are often complex and require high degree of expertise to develop, for example, for example Artificial Intelligence (AI), Machine learning, Quantum computing, is having a profound impact on Blockchain, Advanced materials etc.
Deep tech is having a profound impact on our world. These technologies are being used to solve some of the world’s most pressing such as climate change, health care and poverty.
How it transforms economic ecosystem:
- Creating new jobs: It is creating new jobs in a number of industries including healthcare, finance, manufacturing and retail for example AI is used to develop new cancer treatment, machine learning is used to improve accuracy of medical imaging and big data is being used to personalise patient care. These new jobs are creating opportunities for a people with a variety of skills and help to boost Indian economy.
- Improving productivity: Deep technology is helping to improve productivity in a number of industries for instance AI is being used automate task in factories, machine learning is used to identify defects in the products and big data is used to optimise production process. This is leading to higher output and lesser costs.
- Boosting innovations: Deep technology is helping to boost innovation in India for example AI is being used to develop new product and services, machine learning is used to improve the accuracy of predictions.
- Healthcare: It is being used to develop new medical treatments, improve the accuracy of diagnosis and personalise patient care. This is leading to better health outcomes for patient and lower costs for the healthcare system.
- Retail: Deep technology is being used to personalise shopping experiences, improve customer service and develop new marketing companies for instance AI is used to recommend products to customers, machine learning is used to track customer behaviour. This is leading to more efficient and effective marketing