Disruptive Technology and the most exciting developments coming out of Wales
From world-leading innovation in semi-conductors to a thriving cyber security industry, Wales is firmly at the forefront of the tech industry in the UK. Contributing over £8 billion a year to the Welsh economy, there are over 3,000 tech businesses in Wales with over 40,000 employees.
As part of Wales Week in London, we’ve spoken to some of the movers and shakers in the Wales technology industry to discover their views on disruption and the most exciting developments coming out of Wales. In this first of a series, we hear from Chris Ganje, CEO and co-founder of AMPLYFI:
What are the biggest disruptive trends you have seen coming out of the tech sector?
The Fourth Industrial Revolution - ‘Industry 4.0’ – has heralded some incredible technological advancements that, coupled with an exponential increase in the volume of unstructured data, has led to the emergence of disruptive technologies that leverage innovation to revolutionise business and industry. Developments such as artificial intelligence are set to fundamentally transform how we currently do our jobs, opening us up to new possibilities and levels of insight previously unimaginable.
What do you think is the most disruptive technology right now and why?
For the business intelligence industry, our own technology, DataVoyant™️, is truly ground-breaking and a first of its kind. It can be used to support strategic decision-making and delivers infinitely repeatable, unbiased insight whilst significantly reducing spend on intelligence and research.
Our work at AMPLYFI has already proven its importance and value in areas such as competitor intelligence, investment optimisation, and M&A targeting for some of the world’s largest companies – and the beauty of it is that it is applicable to any sector or topic. We expect that it will soon be disrupting every industry there is!
More generally, distributed ledger technologies such as Blockchain are making waves across industries. Most recently, we have seen the role they have played in the cryptocurrency arena and in enabling a bank-less system as interest increases. As well as changing the investment landscape, they are impacting commercial businesses that are experimenting with crypto-payments, for example, facilitating Bitcoin transactions and countering fake goods.
Looking to the future, blockchain will be the cornerstone of any transaction, monetary or otherwise, bringing accountability and transparency across the board.
What does it mean to be ‘disruptor’?
Ultimately, being a disruptor is about being a game-changer. Disruptors are those who invent and commercialise a product that alters the status quo. They make incumbent players in established industries think again and see new possibilities. At its core, disruption is the willingness to take risks, experiment, be nimble, learn from mistakes – and ultimately celebrate success.
Why is Wales a hotbed for innovative disruptors?
Wales has the ability to compete on the world stage alongside the likes of London, Silicon Valley, and Beijing with its ability to attract and retain some of the best talent from its world-class universities, its ongoing investment into R&D and innovation. In Wales, there is an environment that allows start-ups such as AMPLYFI to stand out from the competition.
AMPLYFI has received invaluable support from the Welsh Government and the Development Bank of Wales, both of which work to accelerate the growth of high-potential businesses across Wales. It was instrumental in our decision to establish our HQ in Cardiff.
And, most importantly… it’s a stunningly beautiful country! It is a privilege to be able to live and work in such an incredible setting, surrounded by such fantastic vibrant and innovative talent.
What opportunities are there for collaboration between the London and Welsh tech sectors?
There is maybe a perception that Wales is remote from the rest of the UK. However, Cardiff is only a two-hour train journey from London and boasts its own international airport. There are undoubtedly huge opportunities for collaboration – and not just here in Wales. The onus really is for London-centric companies and investors to wake-up and recognise the potential that lies outside of the capital.
In Cardiff especially, the ability to access the breadth of Government support, talent, and competitive positioning is far greater than in London. We need to do more to help businesses there recognise the opportunities that come from having a base in Wales.
What are the key drivers for your industry right now? And what’s next?
For us, a key trend is the growing use of automated processes powered by artificial intelligence and machine learning that help businesses across the board to cope with rapidly growing data-driven requirements. Each day new predictive and proactive analytical models are emerging that are enabling new levels of insight and step-changes in how we use and understand data, particularly unstructured data. Increasingly, we see a shift in focus to discovering more ‘unknown unknowns’ – that is to say trying to predict, quantify, and understand future patterns and possibilities.
On a personal level, AMPLYFI is looking to embrace these forward-thinking trends to help us scale and grow over the next few years, with a view of becoming the leader in business intelligence, research, and big data analytics markets.
Find out more about the incredible tech disruptors making their mark in Wales at ‘Disruptive Influencers: Wales Next?’