According to Cointelegraph: Silicon Valley-based startup incubator Y Combinator is encouraging startups to explore innovation opportunities in the domains of stablecoins, metaverse, and artificial intelligence (AI). The company shared its belief in these sectors, which have been identified as some of the most potent fields for advancement, in their annual "Requests for Startups" report released on February 15.
According to Y Combinator group partner Brad Flora, stablecoins are poised to play a significant role in the future of global finance, particularly as a cost-effective solution for cross-border payments. Drawing parallels with the evolution of digital music from an illicit industry to an integrated part of everyday life, Flora elucidated the potential of stablecoins similarly transforming the financial sector.
Artificial intelligence also features as a promising area for startups, given its potential to customize enterprise software and streamline back-office processes. Harj Taggar, a Managing Director at Y Combinator, highlighted opportunities for AI-integrated enterprise platforms to provide a game-changing alternative to existing generic software solutions.
Augmented reality (AR) and virtual reality (VR) technology, ubiquitously associated with gaming, is another field the company wants startups to delve into. Beyond gaming, AR and VR tech could be implemented in a range of practical uses, Y Combinator explained.
To date, Y Combinator has supported 81 cryptocurrency and Web3 startups, including Coinbase, OpenSea, TRM Labs, and Quantstamp. It remains to be seen what innovations upcoming ventures will bring in these highlighted areas.