The World of Tech Neologisms – FinTech, EdTech, FoodTech, HealthTech!

The great growling engine of change – technology!

Our future success is guided by our ability to understand, adapt and integrate new technology into our lives. Making change the only constant portrays the reality of emerging concepts, technologies and activities in the field of digital innovation to prepare the companies for a revolutionised future. 

Recently, we have all noticed a surge in an unusual number of neologisms related to technology. With the possibility of upcoming subsegments of economic activities, a few proliferation ones are FinTech, EdTech, FoodTech, PropTech, and HealthTech. These terminologies are obscure in the market but imperative for the cognisance of a conventional career path.

FinTech – Finance + Technology 

FinTech, as a phrase, has had a significant impact on the market since its inception. A technology that uses a digital platform to deliver financial and banking services. It encompasses services such as internet banking, mobile payment apps, data-driven decision-making, hyper-personalized AI-powered services, and crypto currencies to better understand client behaviour. This has eliminated the compulsion of visiting the bank in person for any concerns. 

EdTech – Education + Technology 

Edtech is the process of driving IT tools into the world of education creating learning more engaging, inclusive, and personalised. Students all across the world are taking online classes, resulting in a true fusion of education and technology. Tablets, interactive online courses, robots that can take notes as well as recorded lectures are already the new norm in today’s classrooms that have evolved from the cumbersome desktops of the past. Some of the EdTech companies are Byjus, Unacademy, Khan academy, and Upgrad. 

FoodTech – Food + Technology 

This is perhaps the most popular combination amongst teenagers. Food combined with technology allows us to have an enriched experience with promising technological services. From 3D food printers, automated cooks, to restaurants offering virtual tours and personalised recommendations – Foodtech is a blessing! 

HealthTech – Health + Technology

Healthtech refers to the application of technology in order to ameliorate patient care and fabricating apps for medical appointments. Apps that assist patients in preparing for surgery or video games that make post-trauma rehabilitation more bearable.

CleanTech – Clean + Technology | GreenTech- Green + Technology 

We frequently discuss solar panels and carbon emission control, both of which fall under the Greentech umbrella. These words refer to a wide range of technological solutions and business concepts targeted at reducing a company’s environmental effect. These firms focus on everything from resource efficiency to pollution prevention and alternative renewable energies, such as solar, wind, and biofuel technologies, with sustainable development as their guiding concept. 

We are transforming the world through technology, which necessitates our knowledge of neologisms. Let’s take a look at a few potential job pathways in these emerging industries!