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AirBnB vs. New York
On Friday October 21, the new York Governor Andrew Cuomo signed a bill which heavily fines people offering short-term rentals in the City of New York, effective immediately. This is a serious threat for Airbnb, as New York is their number one market in the US. Additionally, other cities could adopt the practise if New York proves to be a successful first mover.
Airbnb has sued the city, the major and the New York state attorney immediately after the law went through. Government officials have announced, that the enforcement of the fines will only start once the case is settled. To read more about the case and New York's history with sub-rentals click here.
The Tech Trends of 2017
Technology is developing quickly, and 2017 will be a year full of promising developments in the tech world. These are the most promising tech trends of 2017, which are predicted to generate billions of dollars next year.
Artificial Intelligence: the interest in creating a system that understands, learns and predicts will grow further and will be integrated into all kinds of products and services. Research firm Markets and Markets estimates that the AI market will grow from $420 million in 2014 to $5.05 billion by 2020.
Intelligent things: The internet of things is growing continuously, connecting drones, driverless cars and smart appliances. The technology used to support apps talking to each other is called Mesh App and Service Architecture (MASA). It is estimated that around six billion connected "things" will be actively requesting support from artificial intelligence platforms by 2018.
Intelligent Virtual Assistant (IVA): Siri and Google Now have kickstarted the growth of an all-round support to people's lives. Easy and at-hand assistance will gain importance through supporting all kinds of daily activities such as sports, cooking or traveling. The IVA market size is expected to reach $12.28 billion by 2024, according to Grand View Research.
Virtual and Augmented Reality: While it has created more buzz than actual products in 2016, Virtual Reality is about to take off in 2017. Both Microsoft and Facebook have announced to present their new VR products next year. The worldwide revenues for the augmented and virtual reality market will grow from $5.2 billion in 2016 to more than $162 billion in 2020.
Digital Twins: Computerized replications of something from the real world helps replacing human activity through sensor data. Digital Twins will be able to analyse failure, propose solutions and create new products. It is difficult to estimate the market yet, as the concept in still in early development, but Gartner Market Research predicts that we will hear much more about Digital Twins in the coming year.
Blockchain: The Blockchain concept is a way of distributing a database across many far-flung computer, which is used for virtual money like Bitcoin. Despite the Bitcoin crisis, Blockchain apps are being developed for the financial industry, healthcare and similar markets. The global Blockchain technology market will grow from $210.2 mio in 2016 to $2.3 billion by 2021.
Conversational Systems: Chatting is already custom among younger generations, but can be developed further. We will be texting to apps and using voice control to manage our gadgets, while conversations will also take place between the devices of the internet of things. TMA Associated market research believes that conversational user interfaces will lead to a $600 billion market by 2020.