Impact of the Emerging Technologies on Shared Power Banks Business

Project Report:
Impact of the Emerging Technologies on Shared Power Banks Business
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Impact of the Emerging Technologies on Shared Power Banks Business
The key requirements to launch a Shared Power Banks business include charging stations, power banks, charging station software, a mobile application for the end-users, and the admin panel (Cherednichenko, 2020). These requirements will demand the use of the latest and emerging technologies for the business to thrive. Running a power bank mobile application for the end-users will require key features such as user signup and onboarding, a record of users’ profiles, payment gateways, geolocation and mapping, display of available stations, QR code scanning, loyalty program functionality, and battery returning feature. The functionalities required for the application will need a specific technology stack for the frontend and backend. In particular, one of the critical requirements will be the use of Messaging Queuing Telemetry Transport (MQTT), which is a lightweight network protocol for Internet of Things (IoT) applications that enable messages to be transported between different devices. The protocol also allows power banks to communicate with the servers and access power bank information from the admin panel. As this startup of Shared Power Banks business will intensely rely on technology, several key technologies, including big data and analytics, artificial intelligence, cryptocurrency and blockchain, and risk and cybersecurity will play a role in the success of the startup.
Big Data and Analytics
Big data and analytics will heavily impact the Shared Power Banks business. Studies have shown that big data and analytics offer businesses more value and facilitate the creation of novel and innovative ideas. These technologies have given rise to the mushrooming of several business models that have creative their unique ways of doing business. Companies such as Airbnb, Uber, and BlaBlaCar have used big data and analytics to determine their targets and create untapped market opportunities in a sharing economy (Sedkaoui & Benaichouba, 2019). As a sharing platform, Power bank sharing will generate an enormous amount of data, and the analysis of the data will be critical in the performance of the business and help predict economic trends such as inflation and pricing.
Artificial Intelligence
Artificial intelligence (AI) has found widespread applications in sharing economy platforms and will determine the success of the power bank sharing business. This technology will be useful in exploring new and emerging markets in the business sector. It will facilitate the mapping of boundaries on what is already known to identify the missing gaps on what is not known. AI will also help many shared economy businesses in matching assets, building trust, and understanding customers’ attitudes and preferences (Chen et al., 2021). Therefore, AI will serve as a catalyst in the business model of a sharing economy, with consumers increasingly acknowledging the gaps between access an...