A Quick Summary: Read this blog to discover the latest technology trends that are revolutionizing the way businesses operate. From AI and super app to web 3.0, blockchain, and beyond, we’re decoding the present and future tech landscape and how it’s reshaping industries worldwide. Let's hop on this insightful journey!
Nothing is certain when everything becomes a priority. Since comprehending the scale and scope of the ever-changing technology landscape is not easy, many business leaders across the world struggle through an indecisive phase.
- ➧How can you make your business future-ready?
- ➧What major market trends enterprises should keep an eye on?
- ➧Which technologies are raging today?
As CTOs and COOs prepare to usher in a new era of digitization, often full of complex challenges and roadblocks, these are just a few of the burning questions in their minds.
And if you want answers to these questions, predicting the latest technology trends and their impact on businesses is of utmost importance so that you can reimagine products/services, reduce overheads, increase efficiency, and ultimately improve lives.
So, here are the top 14 worthy pursuits for the year ahead.
1. Adaptive AI
Starting our list with Adaptive AI - an important technology trend with the potential to transform many industries and improve people's lives.
It refers to the use of artificial intelligence and machine learning algorithms to enable machines to learn from data and adapt their behavior based on changing circumstances. Adaptive AI is highly useful in various industries, including finance, manufacturing, and healthcare software development.
One of the key reasons for its popularity is its ability to improve efficiency and accuracy in decision-making processes. For example, healthcare institutions can use adaptive AI to analyze patient data and predict potential health issues before they become serious.
What's more, AI can help improve customer experiences. By using machine learning algorithms, you can analyze customer behavior and preferences and then create their products and services accordingly.
According to recent AI statistics, by 2026, organizations that implement AI engineering techniques to create and manage adaptive AI models will outrun their competitors by at least 25%.
However, there might also be concerns about the use of adaptive AI, particularly in terms of privacy and ethical considerations. This will require ongoing monitoring and regulation on your part so that you can ensure that you are using it in a responsible and ethical manner.
2. Digital Immune System
The concept of a digital immune system, or DIS, is one of the latest technology trends gaining traction in recent years. It’s a software-based security system that protects computer systems, networks, and devices from cyber threats such as viruses, malware, and other malicious software.
Gartner has also stated that by 2025, companies that invest in digital immunity will be able to decrease downtime and increase customer satisfaction by 80%.
A DIS typically uses artificial intelligence (AI) and machine learning (ML) algorithms to analyze data from various sources and identify patterns of suspicious activity. Moreover, it can
- Learn from past attacks and adapt its defenses to new risks.
- Provide continuous monitoring and protection against cyber threats.
- Minimize the impact of cyberattacks by detecting and containing them in advance.
A successful use case of such systems is American Airlines. In order to deal with growing system complexity and address unidentified vulnerabilities, the company employed site reliability engineering (SRE), chaos engineering techniques, and a "test-first" strategy as parts of the overall digital immunity strategy.
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3. AI Trust, Risk, and Security Management (AI TRiSM)
Our record of 2024 trends and technologies is incomplete without AI TRiSM - focusing on managing the risks and security challenges associated with the deployment of artificial intelligence systems. The goal is to ensure that AI systems are trustworthy, secure, and safe for use in various applications, ranging from healthcare to finance, transportation, and beyond.
AI TRiSM encompasses a range of practices, including data privacy, security, governance, and ethics. In terms of business objectives, user approval, and adoption, enterprises that operationalize AI transparency, trust, and security will experience a 50% improvement in their AI systems by 2026.
In a nutshell, the emergence of AI TRiSM as a technology trend highlights the growing recognition of the need for responsible and ethical use of AI, which is critical for building trust in AI products and promoting their widespread adoption in various industries and applications.
4. Super App Development
Super apps are another rapidly evolving sector that totally earns its place in the list of current technology trends in 2024.
These are multifunctional mobile applications that offer a wide range of services and features to users within a single platform. These types of apps typically integrate various services such as messaging, social networking, eCommerce, gaming, ride-hailing, food delivery, and financial services into one app.
The idea behind a super app is to provide a seamless and convenient user experience where users can access multiple services without having to switch between different apps. Since it has been predicted that over 50% of the worldwide population will actively use multiple super apps, this sector undoubtedly comes under the radar of future technology trends.
One great example of this kind of app is WeChat. With over 1 billion users in China, it allows them to chat with friends, make payments, order food, book taxis, and even shop online. By integrating a bunch of different apps into a single platform, WeChat has been gaining tremendous traction as a prominent use case of a super app.
5. Industrial Metaverse
Next in the popular technology trends landscape of 2024 is the industrial metaverse – another technological revolution invented by Mark Zuckerberg that is likely to generate up to $5 trillion in value by the end of 2030.
It refers to the use of virtual and augmented reality (VR and AR) technologies to create immersive and interactive digital environments for progressive web applications (PWAs). In this context, the metaverse is a shared virtual space where users are able to interact with augmented versions of physical objects and data in real time.
Industrial metaverse has the potential to transform many industries by enabling new forms of collaboration, training, and visualization. For example, in manufacturing, workers can receive immersive training on equipment operation and safety procedures, and in construction, architects and engineers can use augmented reality to overlay digital designs onto physical environments.
All in all, the industrial metaverse is a technology trend with the potential to optimize organizational workflow that was previously impossible with traditional technologies.
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6. Quantum Computing
Quantum computing is another deserving successor of the top 13 technology trends race that, in all possibilities, could turn many fields upside down.
Unlike traditional computers, quantum computers use quantum bits (qubits) that allow for much faster and more complex calculations. This is why tech giants like Google, Amazon Web Services (AWS), and Microsoft are heavily investing in quantum computing. As a matter of fact, the global quantum computing market is projected to grow by $1765 million by 2025.
One of the most promising applications of quantum computing is in the field of cryptography, where it can break many of the commonly used encryption algorithms and create protocols that can resist external attacks. It also accelerates research and development in fields such as drug discovery, materials science, and artificial intelligence.
On the whole, quantum computing is 2024’s one of the exciting trends in information technology, and it is likely that we will see many more applications of this powerful technology in the years to come.
7. Blockchain
Perhaps the greatest of all IT trends and technology is blockchain development which has gained significant attention in recent years as a decentralized, digital ledger that records transactions in a secure and transparent way.
One key benefit of blockchain is its capability to provide a highly secure and protected record of transactions. Hence, it’s ideal for use in applications where trust and security are paramount, such as in financial software development, supply chain management, and voting systems.
According to Gartner, the global business value generated by blockchain will reach around $3.1 trillion by 2030.
Blockchain has also been praised for its potential to increase transparency and accountability in industries such as healthcare. Blockchain in healthcare software development could securely store and share patient data, reduce costs, and streamline processes across multiple departments.
8. IoT and Hyperconnectivity
The Internet of Things (IoT) and hyperconnectivity are the two latest technological advancements that are rapidly transforming the way we live, work, and interact with each other.
IoT refers to the network of physical devices embedded with sensors and software that exchange data and communicate with each other over the Internet. And as per Statists, the number of such devices will turn 50 billion by 2023.
Hyperconnectivity, on the other hand, refers to the increasing level of interconnectivity between devices, networks, and people with real-time communication. Smart homes and cities, for example, can use these solutions to monitor and optimize energy usage, improve traffic flow, and enhance public safety.
Together, IoT and hyperconnectivity are driving a new era of digital transformation, with the potential to revolutionize a wide array of industries, from banking and finance to healthcare and insurance.
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9. Web 3.0
Web 3.0 is the next generation of the Internet and web development solutions. It is not a specific technology, but rather a collection of technologies and concepts that are currently a work in progress to create a more efficient and secure Internet.
- The global Web 2.0 blockchain market will generate a revenue of 23.3 billion by 2028.
- According to 43% of consumers want Web 3.0 to be more heavily regulated than Web 2.0.
- So far, 438 Web 3.0 firms have raised over $4.5 billion in funding.
One of the key technologies driving Web 3.0 is blockchain, which enables the creation of decentralized applications and systems that can operate independently of centralized control. Other key technologies include artificial intelligence, IoT for embedded development, and augmented reality.
In short, Web 3.0 is going to have a widespread impact on the way we interact with the Internet, and is definitely one of the top technology trends in 2024 to watch as it continues to grow and evolve.
10. Sustainable Technology
Last but not least in today’s top trending technologies is sustainable technology, or "green tech." As the name suggests, it refers to the development and use of technology that minimizes the negative impact on the environment. This technology trend has been gaining popularity in recent years as individuals, businesses, and governments become increasingly aware of the need to reduce their carbon footprint and protect the planet.
The prime objective of sustainable technologies is to increase the material and energy efficiency of the IT ecosystem and workflows. For example:
- Cloud solutions to reduce environmental impact by increasing the utilization rate of shared resources.
- Collection and analysis of emissions data with enterprise greenhouse gas emissions management software.
As more companies and individuals prioritize sustainability, the demand for sustainable technology is likely to continue to grow. It’s not just a trend; it’s a necessary transformation for individuals, and organizations of all types to thrive in the years to come. As a result, 50% of CIOs are planning to implement performance metrics as part of the IT sustainability strategy.
11. Generative AI
Generative AI has taken the central stage in 2024 for its ability to create mind-blowing content, including text, images, and music, that’s not just impressive but incredibly human-focused.
For business transformation, investing in technologies like generative AI brings multiple benefits. Firstly, it helps businesses offer highly personalized customer experiences through tailor-made services and products based on individual demands and preferences.
Moreover, the predictive capabilities of generative AI have changed the decision-making process. Using data analytics and pattern recognition, it helps teams with product development, predicting risks and trends, optimizing business strategies, and so on.
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