What 5 technology trends you should know in 2024

With just over a month left until we step into 2024, the world of technology continues its relentless evolution. As anticipated by tech enthusiasts for the ongoing year 2023, digital transformation is not a stagnant concept; instead, it’s an ever-progressing process that unfolds continuously over the years. The current technology trends are actively contributing to reshaping advancements for our world in various ways.

Technology, always advancing at an accelerated pace over the years, establishes a remarkable rate of rapid changes. In recent years, terms such as AI (Artificial Intelligence), ChatGPT, RPA, and AR/VR technologies have become increasingly captivating, notably with Apple’s involvement through Apple Vision Pro. These are the precursors that hint at the technology trends expected to unfold in 2024. Continue reading to discover the ten essential tech trends you should keep an eye on in the upcoming year.

1. Generative AI

In recent years, Machine Learning technology has made a tremendous impact on the tech market with the introduction of ChatGPT. It represents a significant leap forward in demonstrating the versatility of AI, applicable across almost all current domains. This breakthrough showcases the evolving learning and developmental capabilities of AI, leading to the emergence of a more advanced technology – Generative AI in 2023. According to McKinsey’s research, Generative AI has added trillions of dollars in value to the global economy, equivalent to $2.6 trillion to $4.4 trillion annually across the 63 analyzed use cases.

Generative AI is progressively infiltrating more of the applications we use daily, from search engines to office software, design packages, and communication tools, making people increasingly aware of its potential. When used effectively, it acts as a super-smart personal assistant available 24/7, enhancing our efficiency, speed, and overall productivity. Additionally, applying Generative AI to automate repetitive processes and manual tasks allows humans to gain more time for creativity, exploration of new ideas, and focus on critical tasks.

2. Phygital Transformation

AR/VR technology has been around for quite some time, but due to technological limitations, it has only gained broader recognition in recent years. We have witnessed initial implementations in the market by renowned names such as Oculus, Facebook, and most recently, Apple. It can be said that the involvement of the largest technology conglomerate in the U.S., Apple, has paved the way for the widespread application of AR technology in everyday life.

But do you know that there are already some basic features of AR/VR applied in daily life? That’s right. We already have platforms like Zoom, Teams, and Slack for virtual meetings, and the gaming industry is booming, with online gaming and esports reaching new heights. Social apps like TikTok and Instagram allow us to create virtual spaces where we share moments from our “real” lives – carefully curated and filtered to shape digital personalities that represent our virtual selves.

In 2024, we will continue to witness a diminishing distinction between the real world and the virtual world. This trend indicates that the digital realm is becoming increasingly realistic, while the real world is becoming as adaptable and flexible as the digital one.

3. Quantum Computing

Quantum computing is a cutting-edge type of computing that uses unique principles like entanglement and superposition. It’s not just a cool science trend; it’s also helping in fighting viruses and creating vaccines. Quantum computers can handle data from various sources easily. But, this raises questions about how our personal data is used.

Looking ahead, quantum computing is expected to be super helpful in finance and banking, reducing risks and spotting fraud. It’s also making a big impact on science, which could lead to more industries and growth.

Now, quantum computers are way faster than regular ones, and big brands are making important progress in this area. That’s why quantum computing is a big deal in the tech trends of 2022. Is your business thinking about getting a quantum computer?

4. Cyber Resilience

Addressing cyber threats is a common challenge for businesses nowadays. In response to this growing threat, technology solutions aimed at strengthening defenses and providing a fighting chance are crucial for every organization.

However, cyber resilience extends beyond cybersecurity. It encompasses measures to recover and ensure continuity when defenses are breached or due to unforeseen circumstances. This could involve having remote working procedures to ensure business operations continue when staff can’t access central locations—a technological solution that might not traditionally be seen as part of cybersecurity.

Key elements of a cyber resilience strategy include the automation of cyber defense through AI and machine learning, integrated frameworks that combine security measures with continuity protocols, and awareness of societal factors, from social engineering attacks to crisis management in public relations.

5. Sustainable Technology

Sustainable technology will continue to be a major focus in 2024, with countries and corporations striving to meet net-zero commitments. Simultaneously, individuals will increasingly use technology to minimize their environmental impact.

This encompasses environmentally-friendly practices, such as the growing market share of electric cars, bikes, and public transport in 2024. It also involves innovative solutions like carbon capture and storage, along with green and renewable energy technologies.

Challenges for developers and users of sustainable technology in 2024 include the need to establish ethical and sustainable methods for sourcing and extracting materials for manufacturing devices, addressing infrastructure demands resulting from changing consumer habits (e.g., the adoption of electric vehicles), and potential disparities in access to green alternatives based on geography or socio-economic factors.

These are the anticipated technology trends that will make significant strides in 2024. These technological advancements are expected to contribute positively not only to society but also to simplify and enhance personal lifestyles.

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