If you take a brief look at the art world, it will probably give you the impression that it is a place of dullness and seriousness, where artists are often isolated from the rest of the world. And while those kinds of clichés have some truth to them, there’s a lot more to the art world than that. Art is an ever-changing field with recurring innovations and new ideas coming out every day. One such innovator is Philip Belamant, who turned his industry disruption into an artistic expression. Before we get into what he did, let’s first understand what that means. An industry disruption occurs when a new technology or innovation disrupts an existing market by affecting prices and consumer habits. When industries are disrupted, they can be transformed or destroyed entirely by these new technologies. Think of how smartphones changed how we use our cameras and how artificial intelligence (AI) has done the same for our software programs in recent years.
After developing his new technology, Philip Belamant was left with one mission: to use AI to disrupt his industry and make money doing it. His solution was to partner with fintech companies to help him monetize his data. This is when Belamant’s mission with fintech and “buy now, pay later” (or BNPL) came about. The idea behind BNPL is that you sell products, but you give the customer the option of paying later. If the customer pays for the product now, you get to collect the interest on the purchase by charging a small fee. If the customer doesn’t pay, you still get the product to get both ends of the deal.
For Philip Belamant, disrupting his industry wasn’t enough. He also wanted to use disruptive technology to disrupt the existing market. With the help of AI and machine learning, Belamant created highly detailed maps of his hydroponic farms that helped optimize the crop production process. Through AI, Belamant was also able to use data analytics to give his crew better guidance about which crops to plant, which ones to harvest first, and how to get the most out of his resources.
Original source to learn more: https://medium.com/@philipbelamant