New Technology Trends: What to Expect in 2024

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2023 was undoubtedly a busy year in terms of new innovations in technology. Most of these innovations have significantly transformed the world economy and societies.

Enter 2024, and digital evolution is not slowing down either, so in this article, we highlight a key list of technologies and innovations that will dominate 2024. Some of these trends are not new to us but have been revamped to keep up with the times. We’ll also examine the new trends keeping tech nerds and scientists busy this year.

Generative AI

You have probably heard about generative artificial intelligence since it has become one of the most influential technologies. Though a relatively new technology, its impact on our lives is enormous, and it feels like it has been there for decades!

The world has just made strides; predictably, 2024 will be the year everyone will see its full potential. According to research by Gartner, in the next two years, more than 80% of enterprises will have employed Generative artificial intelligence models and APIs and deployed Generative AI-enabled apps in their production lines. This would be an increase of 75% in 2023. This will lead to increased business production and efficiency, improved rate at which new products are brought to the market, hyper-personalization, etc.

Quantum Computing

Is it time for enterprises to embrace quantum computing? Resoundingly, yes. The wording sounds big, but it is a simple concept; it is a kind of computing that employs quantum phenomena like entanglement and superposition. This latest technology will enable us to come up with strategic investments and discover new products within much shorter timeframes than we could before.

What are the differences between the regular and quantum computers? Well, the latter is much faster than the former. This explains why industry behemoths like Google, AWS, and Microsoft are investing vast amounts of money into innovation in quantum computing. To get a better perspective on this investment, their market revenues globally are expected to be over $2.5 by 2029.

Green Tech

Can technology help humanity strike an ecological and social rights balance during this time of global environmental crisis? Yes, if the world embraces green tech.

The world can create a greener and more sustainable future for the generations to come, all without compromising efficiency and driving business growth thanks to innovative technologies such as robotics, artificial intelligence, blockchain, virtual reality, cloud computing, and many others.

Cybersecurity as a Stronghold

Cyber-attacks have skyrocketed for the last decade, and all types of businesses are feeling the heat. As such, it has become an absolute necessity, and it’s no longer just any other business priority.

Therefore, IT leaders must develop robust cybersecurity systems and optimize and update them continuously if they are to have an upper hand against the bad guys. This can be achieved by following basic steps like using encrypted services, providing training and awareness to company employees, carrying out pen-testing tests, validating governance, and creating and updating software and protocols.

Finally, businesses must adopt a zero-trust approach. In this case, every request is assumed to be a potential data breach and, therefore, strongly authenticated and authorized based on the restraints of the policy.

Robotic Process Automation (RPA)

Simply put, this is a cousin to artificial intelligence and machine learning. It involves automating business processes such as transaction processing, data handling, application interpretation, and answering emails.

Automating these processes means the employees who would otherwise be doing those tasks can focus on other productive tasks, therefore cutting down on costs, increasing profitability, reducing time spent on such tasks, and increasing precision and efficiency in production.

The Importance of Data

Data is one of the critical motivations for the recent spike in cyber attacks worldwide. The importance of data cannot be emphasized enough. Data is the driving force of any company, and this explains why businesses are willing to pay astronomical amounts of ransom to cybercriminals to retrieve their data.

It can be a determining factor in competition, and most importantly, it is crucial in making business decisions that directly impact a company’s success.

For instance, the datafication concept involves transforming everything into a data-driven software or device. This implies that tasks are transformed by data-driven technology, from office apps to smartphones, which must be kept securely and correctly.

Therefore, datafication comes in handy for businesses to accelerate operations, come up with new client experiences, identify and capitalize on new market opportunities and ability to adapt when the unexpected occurs.

To Wrap Up

As we wait and see more tech trends this year, the convergence of the technologies discussed here promises to usher in an era of unparalleled innovations and transformation. From the evolution of green tech to the magical experience of generative AI, the tech industry is on the right path in defining how we work, live, and interact with the world.

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