Understanding the landscape will give you a better understanding of your options, as well as your customers' needs and what your competition may be doing.
Technology continues to evolve in exciting ways. The latest trends are driven by business needs, risks, increased competition, innovation and many other factors, including a predicted recession and an increase in remote work. For example, security is receiving more attention, in part due to the rise in remote and hybrid work arrangements. Employees who work from home or other locations are more susceptible to cyberattacks that can compromise the entire corporate network.
Your company may or may not have a use for each new emerging technology. However, understanding the landscape will give you a better understanding of your options, as well as your customers' needs and what your competition may be doing. Here we present 5 of the most interesting technological developments to keep an eye on this year.
1. Open Source AI Platforms and Gadgets
Open source AI platforms are gaining momentum, marking a shift toward more open and collaborative AI development. By making algorithms, datasets, and tools publicly available, open source platforms are democratizing access to cutting-edge AI. This approach promotes greater transparency, enabling broader community input to ensure AI technologies are ethical and inclusive. The open source movement is accelerating AI progress through global collaboration while promoting responsible practices.
In parallel, we are seeing AI become a standard feature of many home appliances and appliances. From smart speakers with voice assistants to wearables that provide personalized health information, AI is being incorporated into our everyday technology. As AI-based gadgets become more prevalent, they become smarter and more intuitive. These devices not only understand user needs and preferences, but also proactively adapt to provide seamless, personalized experiences.
Together, these trends point to an AI-enabled future in 2024, where technology will feel less like an impersonal tool and more like an intelligent assistant integrated into everyday life. Democratized development and collaborative innovation ensure that AI technology is accessible, transparent and beneficial to everyone.
2. Increased focus on security
Cyberattacks have become more prevalent, especially ransomware attacks. The Colonial Pipeline attack is a prominent example, where the company paid the ransom to regain use of its data, demonstrating how much power cybercriminals can gain over companies. And this year we have already seen a dramatic increase in ransomware attacks . Even if your company does not provide essential services, the data that may be at risk is essential to you and your business operations.
Other companies noticed this impact and doubled down on teaching employees what to do and what not to do in network computing, such as not clicking on links from unknown email senders. Additionally, enterprise security companies have added features such as stronger cloud protection, regulatory assistance, and attention to all data stores to prevent attacks. As companies try to stay one step ahead of the bad guys, this increased focus on security will continue in 2024 and beyond.
3. Growth in cloud computing
Spending on cloud services grew substantially in 2021, with dependence increasing following the start of the pandemic. Additionally, organizations of all types have recognized the solutions presented by cloud services, such as labor shortages. For example, automated cloud solutions can replace labor-intensive processes, allowing companies to reduce human labor needs.
The growth in cloud use is also based on qualities such as greater storage capacity, robust security and support for the Internet of Things (IoT).
4. More emphasis on the metaverse
The metaverse is the next iteration of the Internet, allowing users to perform shopping, entertainment, social and work functions in an immersive environment with virtual and augmented reality elements. Only a few companies have ventured into this space so far, including Facebook, which, in 2021, notably changed its company name to Meta. For Facebook, the name change represents a shift in focus to hardware, such as virtual reality headsets that can support metaverse activities.
The metaverse has great potential for business expansion. For example, as with the Internet, companies will be able to advertise, sponsor events and offer digital products and games. In 2022, many companies across all sectors will begin to think about how they can leverage these elements of the metaverse to expand their offerings and reach. At the same time, technology companies will launch new metaverse-based tools in industries such as manufacturing, healthcare, education, real estate, retail, entertainment, and more.
5. Expansion of Robotics
Robots are machines that can support human activity in different ways. They are already being used to take over many commercial and industrial processes that are repetitive or dangerous to humans. The method of automating repeated operations is known as robotic process automation (RPA).
Challenges resulting from the pandemic have created new use cases for robots, including as tools to increase supply chain efficiency and as automation providers that can reduce the number of human workers needed in production environments. As a result, the use of robotics will expand further in 2024, making RPA a de facto business standard.
A subset of robotics is nanorobotics, which can be useful in medicine and other areas. For example, they can be used to deliver medications to hard-to-reach areas of the body. Other uses include the following:
- In surface treatments to protect electronic devices.
- With fabrics to collect data about the user.
- Making lighter materials to build lightweight transport vehicles that would require much less fuel.
- Built in solar panels to convert sunlight into electricity more efficiently, resulting in cheaper solar energy.
Should you follow trends?
Reading about technology trends is always interesting, but deciding whether to incorporate them into your business is another matter. When considering which tools to use, make sure the ones you are evaluating solve a real business problem. For example, only companies in certain industries are likely to need robotics, while almost all companies could benefit from a security update. Start with your goals and challenges and see if the solutions above – or many others not mentioned here – seem like a good fit.
