Investing for the 99% : Let’s imagine how the Data tsunami can be used for the benefit of the multitude. [3/3]

Despite a rapidly growing cyberthreat landscape and multiple data breaches, at XAnge we believe that this new “world” can bring positive changes by backing startups that are paving the way for positive transformation in fintechs, healthcare, agriculture & deeptech and many more sectors.

The data-driven revolutions of Artificial Intelligence & machine learning, predictive modeling, and analytics are fueling massive opportunities for improvement in business, healthcare, education as well as in our personal lives.

But this data tsunami raises multiple challenges.

• This revolution should leave no one behind. We strongly feel it should improve the lives of the multitude, instead of benefiting a few insiders. Think of a customer facing application or a software system that includes advanced data, analytics & AI features that can be used & trusted by a very large audience, with positive outcomes in their everyday lives.

• More progress must be made relative to data privacy & security. Even though this problem has been around for decades, there is still a growing concern from individuals and companies alike, and a huge demand for protection against online fraud, data leaks, and hacking scandals.

• Finally we shouldn’t let the exponential growth in the collecting, storage and processing of data become an environmental issue in itself. The emergence of clean data centers & best energy saving measures are an absolute necessity to avoid compounding effects.

Where we see the most potential for startups to emerge as winners

• EMPOWERING USERS WITH THEIR DATA. We have strong convictions on good practices for data collection. Rather than invisible data collection and old-world cookie trackers, we believe in users progressively regaining control of their data. One way would be to have frequent contextual feedback loops to ensure the users are comfortable in sharing their data. Following the GDPR laws in Europe and CCPA in California,citizens have a bit more legal protection but what we now need are practical technology driven answers from great startups.

• SAFER & EASIER DATA CIRCULATION. Recurring leaks make it clear that the circulation of data is one of our Achilles heel when it comes to data protection. We believe in the creation of specific communication tools and channels for data to circulate safely.
  The rise of a robust API ecosystem will help to a great extent, with more control for data owners to know where it goes, increased process automation with embedded end-to-end data protection and security and easier integration for the data receiver. They will enable organisations to become more efficient and safer in their processes, freeing up their hands to focus on their core business. APIs are becoming a standard way of communication inside and outside businesses, and should be promoted as so..

• CLEANER DATA STORAGE. Data centers already represented 1% of the global electrical consumption in 2018. With estimates that it will triple or even quadruple in the coming decade, there is potential to act quickly. Green data centers that minimize environmental impacts must become the norm rather than the exception.

• MAKING DATA MORE USEFUL WITH BETTER TOOLS. Despite organizations investing massively in data collection and processing, it feels as if they do not leverage the volumes they collect. The data often remains scattered in silos across the organization. Getting information ready for analysis has become costly and time-consuming. We strongly believe in a new generation data stack including smart data tools enabling new ways to manage the Data lifecycle, providing better insights and client experience while preserving much required privacy.

Building great data tools for the widest possible range of users

• EXPLAINABLE AI. Investing for the benefit of allmeans not promoting AIs that may dictate people’s choices (at work or in everyday life) without them understanding how a decision is taken. Why does the garage software suggest I change the engine sparks on my car? Why is my kid being sent to this school rather than this closer or better one? Why did the bank deny my mortgage request for the house? Soon we will have situations where suggests the best path for career advancement? If such algorithm-funded decisions are not explainable, they could lean towards arbitrary. We need algorithm transparency. We need to make sure that bias or social reproduction are not embedded inside. We need accountability. And more importantly, we need to empower people and organizations in making the best decisions for themselves.

• ENTERPRISE & SMB SOFTWARE. We have shown with Odoo that quality ERPs are not the privilege of large enterprises only. The same goes with data-driven CRM, salesforce automation tools, marketing, accounting packages and the multiple quality Saas that remain to build for smaller companies.

• ENFORCING DIGITAL SAFETY. We believe in generalized access to digital safety. Individuals and society are in need of a safety-by-design environment. Organizations face more pressure than ever from their customers and business partners, and trust has become vital – so much that cybersecurity is one of the most active sectors for M&A and will probably remain so. . Our eye is focused on cybersecurity, protection techniques like encryption, smooth yet safe password and access management, APIs safety. Sarus, which lets data scientists and business analysts work on sensitive data without accessing the individual data directly, is a great example of upping the game thanks to better data tooling.

• DEVELOPER TOOLS / MIDDLEWARE. We believe that giving Developers, Devops and IT teams the best tools to create both safe IT infrastructures and reliable websites and apps area great way to generate trust. Plus it gives more time to work on what matters most: creating reliable products for users to love.

• B2B MARKETPLACES. XAnge is a firm believer in the marketplaces business model that brings together the supply and demand. It also enables the emergence of a circular economy, providing opportunities for new businesses to emerge, and meets increasing customer demand on a global scale. What ManoMano has done for housing and gardening projects, others will do for B2B with food & hospitality, construction material andelectronic components recycling, etc. We are here to back these initiatives.

• HARDWARE TO DEMOCRATIZE ACCESS TO TECH. There’s something magic that we love about hardware when combined with powerful software: it eases access to tools that were previously non-existent. Ledger’s physical wallet played a huge role in securing cryptocurrency detention – facilitating access for new users. There’s amazing hardware to build in healthcare (see Wandercraft), in agriculture, in property & real estate, in industry (see Teeptrack),in New space (see Aerospace Lab) and in Quantum computing… basically anywhere we can think of, with a necessity to generate positive outcomes on business and our daily lives.

Our job at XAnge is to help the leaders of this revolution emerge, and to make sure everybody benefits from progress : tech haves and have-nots, experts and newbies, society as a whole. We can’t wait to meet and discuss…