February 14, 2022
Michigan is home to some of the top high-tech auto and mobility companies in North America. It is also quickly becoming the home base for the expanding financial technology (FinTech) industry. The entrepreneurial drive in the region is why these industries are thriving, and numerous start-up companies are opening up shop. With the dream to innovate and contribute to science, I came to the U.S. – specifically to the University of Michigan as a data science student – because of this entrepreneurial drive and current industry trend.
Michigan being an automotive hub means that it has seen the introduction and growth of companies that are using advanced technologies for innovations. For example, they use advanced tech to create batteries for electric vehicles (EVs); computer vision – a type of artificial intelligence – for autonomous vehicles (AVs); advanced braking technologies; information management; and computations for electric and autonomous driving. All of these innovations have seen a surge in the last decade.
These technologies are incorporated by many companies in the region and provide automakers with solutions and products that have created a demand for services and jobs. Ford Motor Company, General Motors, Bosch, and companies like Bollinger Motors, May Mobility, and Traxen are working together with innovative tech to shape the future of the high-tech auto and mobility industry. I dream of being a part of that future.
FinTech start-ups have also significantly grown and made an impact in the region. They provide job opportunities and make banking and investing easier. Some FinTech start-ups include Benzinga, Truebill, and companies under the hood of Rock Ventures. On the eve of the pandemic, these companies quickly innovated their workflow to virtually cater to their teams and customers and provide them with services at their fingertips.
Emerging technology start-ups incorporating blockchain, data science, and artificial intelligence like Pukka, ProjectFred, Anoloriya, GamerAmmo, Linkchain, and Soar have also impacted the region by providing a variety of services to customers. These companies have challenged the pandemic with innovation and vision to make life easier for their customers and have created a demand for talent to support them in regular business operations. The upward trend in this industry is one of the reasons why I decided to pursue a career path in data science.
Written by Dewank Mahajan, Spring 2022 Campus Ambassador
