We can hear word agnostic on TV, in school, and books. However, this word can be applied in religion and the industry.
What does agnostic mean in life?
The agnostic meaning in life, philosophy, and religion imply a person who neither believes nor disbelieves. In religion, an agnostic is a person who neither believes that God exists nor that God does not exist. Usually, an agnostic person implies that human knowledge is limited to experience.
Many companies offer services, technology platforms, and products in business and finance. Companies can focus only on one industry or create products/services applied to various sectors.
Industry Agnostic meaning
Industry Agnostic company doesn’t specialize in a specific industry sector. Instead, an Agnostic industry company represents any company (investment banks, IT industry, any other industry) that applies its knowledge, products, and technologies in various industries instead of only one specific industry.
Industry agnostic or market agnostic, or sector-agnostic approach means that they are unbiased in implementing specific technologies (for example, pattern recognition software) to solve the various business problems in multiple sectors (finance, agriculture, civil engineering, etc. ).
Watch a video about industry agnostic meaning from our youtube channel below:
These kinds of firms have a focused market look. But they may work in various industries.
Industry agnostic examples
Company A creates machine learning algorithms and implements them in the banking trading sector. Company B makes machine learning algorithms and applies them in the banking sector, the construction industry, the business industry, the environmental sector, etc. So Company B is an industry-agnostic company.
Sector agnostic or industry agnostic
Sector agnostic companies don’t specialize in specific sectors. Sectors are general segments in the economy, more significant than any industry. Term industry-agnostic is better than sector agnostic because it refers to a particular group of companies operating in a similar business sphere.
The working method:
For example, an investment bank may not know who the buyers are. They also do not know the industry-related information to increase the value for their customers. On the other hand, industry-specialized people are very beneficial for an investment bank to sell the business and grow at the highest reach. Therefore, the investment banker will need knowledge of the industry and its related issues.
Let us see a few examples.
Below is a presented IT solution company that is a pure example of an industry agnostic company:
As we can see image above, the company offers solutions in healthcare, automotive, e-commerce, sport, fintech industry, etc. This is an example of an industry agnostic company ready to apply solutions not just in one industry niche.
Another example is TechArt. The presented company is an industry agnostic company and offers services in several sectors:
Usually, in the forex industry, we can talk about banks and investment companies that are industry agnostic because they cooperate and invest in various industries. They didn’t bond with one niche industry.
What is a Sector Agnostic Fund?
A sector agnostic fund represents investing company that invests in various types of startups such as retail startups, eCommerce startups, machine learning industry, automotive, construction industry, etc. Usually, sector agnostic funds invest in several totally different industries, from Software-as-a-Service (SaaS) industry up to direct-to-consumer (D2C) industry.
Industry agnostic managers
Industry agnostic managers represent people with broader knowledge, such as IT, healthcare, and finance. They should be broad-minded people. They should not hold back any of the two opposing parties on a particular topic.
Sector agnostic advantages
The most significant industry agnostic company advantage is the potential to sell products or services to more B2B companies, or individuals, to target various industries and develop faster in-demand markets.
While talking about shares, stocks, and equity, you should know that industry-agnostic is a smart and equipped professional. They know better how to invest in large-scale stocks, bonds, and shares. The skilled and experienced agnostic has a clear-cut idea to invest in fixed and dividends. They should be open to all such plans. They are ready to take ideas from the shareholders and share tips.
They also need partners to complete the transaction. Agnostic firms have unique perspectives on making a profit. The agnostic can help you a lot in these respects. They know how to handle an equity firm’s and private organizations’ profit and loss structure. They can also give tips to the shareholders. It is necessary to grab the details. But in this case, the agnostic should not be biased at all. They should take a neutral position. They cannot take any of the two team’s sides. They can handle so many things but not from one’s hand. They should have essential communication, relationship building, analytics, product knowledge, and competition. They must know the details of industry competition, market landscape, and business strategies.
The agnostic should know the industries and widen the scope of a company or business firm to overcome future challenges. They are here to increase the level of confidence in a company. They are ready to give you the critical factors of the industry and its related knowledge. Thus, the industry-agnostic experts will help you to overcome some exciting challenges.
However, the technology-agnostic term has a different meaning than product agnostic, industry, or sector agnostic.
Technology agnostic meaning
Technology agnosticism represents an open-minded approach to choosing the right technology for yourself or your business. Technology agnostic companies and persons do not buy cheap and big brand solutions; they test many platforms and technologies before choosing the right one.
A technology-agnostic person is open to learning, applying, and testing to achieve desired results versus choosing the cheapest solution or some famous brand.