Question

Which fields tend to attract entrepreneurs the most? Why?

Answer 1

In today's scenario, the fields which tend to attract the entrepreneurs the most are:

Artificial intelligence: AI attracts the maximum entrepreneurs. The reason behind the usage of a capital-intensive technology of production. Further through AI, the process can be made standardized hence the chances of error and variation minimizes. AI even help in time-saving since the energy in managing the human resource is saved and no efforts on training are involved in the usage of AI.

Logistics: Logistics and operations are the backbone of the industry to survive. These logistic operations include the provision of facilities like raw material, transportation, help in setting the assembly line in place. This industry is in huge demand since a better assembly line would save time and lead to economies of scale.

Financial industry: All businesses have a compliance to follow, other than businessman other individuals also need financial assistance for legal, wealth advisory etc. Business needs financial services for raising more funds and even working with the compliance of the law hence the finance industry is on its booming phase. Further, with coming up of IFRS there would be symmetry in the account across the globe making the industry more lucrative.

Technology: Technology is the more versatile industry with new innovations entering the market everyday. These technological products make life easy and hence are in huge demand which makes it a good deal for the entrepreneur.

Travel and tourism: The world is turning into a global village with most of the countries earning their max of the GDP through this industry. People travel for work and leisure this is leading to a great boom in this industry. This industry is further pacing up a lot because of online travel platforms like Airbnb, MakeMyTrip etc. This industry has been closely working with technology giving the customer the best services along with redressal portals hence huge demand.