The Silicon Valley and the Bay Area have been on every tech geeks’ and economic analyst’s radar since its inception in 2006. Everybody is always interested to know what exciting things are happening in and coming out of this tech hub. There have been incessant whispers that the Silicon Valley may be facing a few hic ups here and there, especially over the last couple of years. With the national rate of economic growth slowing down and the cost of housing in the Bay Area being at an all-time high; the question on our minds is: what’s next for the Silicon Valley?
When the Silicon Valley president and CEO Russ Hancock presented the 2017 Silicon Valley Index in San Jose earlier this year, he confirmed to a very eager audience that although the region’s economy is in a transitional phase, it is still growing. Although the statistics show that the economic growth rate has slowed down, other signs suggest that the Silicon Valley’s economy is still healthy albeit not everyone is enjoying this strong economy and the environment is causing a strain on some people’s quality of life.
With the return of good leadership, innovation and even IPOs, there is a high indication that the Silicon Valley is back in full swing, or at least en route. There already is established the technology that allows a digital worker to work on data processing projects even from remote areas in the world. The strides that the Silicon Valley is now taking, is developing the appropriate systems that can locate and connect these digital workers with these projects, so that it is simple for a worker in Africa to be connected with a project in an instant without too much hassle searching for it.
In terms of infrastructure, there are plans that are highlighted in the Silicon Valley’s vision 2020 dossier to dramatically improve the area. There is talk of several clusters of contemporary houses that will be affordable; several world class galleries; night clubs and beautiful boutiques where multi-generational fashion designers can exhibit their clothes. For those who are looking to network and hob knob with likeminded individuals there is projected that by 2020 it will be easy to meet these people wherever you go. This will be possible because of the location-sensitive technology that will be developed here in the Silicon Valley that will recommend to you, based on personalized data and algorithms, the people you might like to meet and interact with.
According to Mary Meeker’s latest trend report, Silicon Valley has a role to play in the healthcare industry in the near future. She pointed out that there has been an increase in the popularity of wearable devices that monitor elements of health including heart rate. Medical patients are now able to access their records and data digitally, health apps are increasingly being downloaded and many of us are willing to share our medical data. These technological aspects show that the Silicon Valley is playing a significant role in shaping the future of our healthcare systems, and more innovations in the field are expected from the Valley.
Priding themselves on their ability to disrupt traditional industries by harnessing the scalability of tech, some of Silicon Valley’s elite may begin to see new entrants to their respective markets who are able to gain an edge by marketing themselves better, smarter and faster to eat up market share. In particular, those utilising the latest digital marketing technology may rise to prominence.
We spoke to Seb Dean who owns web design agency, Imaginaire Digital, in Nottingham:
We’re getting more and more requests from startups who have passed through initial funding and who are recognising the need to plough money into marketing and, in particular, digital marketing. Some of the new entrants are recognising the fact that tech companies tend to have a ‘we can do it in-house’ attitude to web design and marketing and the reality is, they aren’t getting the most from their budgets.
Finally, there are some places that have been identified as possible locations for the new Silicon Valley tech hubs due to the developments being made in the area. These places include Austin Texas, because of its pleasant real estate industry and its popularity among venture capitalists; and Boston.