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The Top Tech Trends in 2024 and How They Will Shape the Future
The global technology industry is undergoing significant changes at a massive speed. Technologies such as Artificial intelligence (AI), Machine Learning (ML), and the Internet of Things (IoT) are leading innovations and developments within existing technologies. New trends have emerged across various industries, such as media and communication, finance, health, and education. What does the future hold, therefore? This blog attempts to identify the top tech trends 2024 and the impact they could have on working professionals across industries.
Top 10 Tech Trends 2024
1. Applied AI
Applied AI is a branch of artificial intelligence that practically implements AI models to perform various tasks. It has continuously received the highest innovation and investment score for the past 4-5 years. This makes it one of the top 10 tech trends 2024. Companies can use applied AI software as research assistants, database management, chatbots, risk assessment for insurance policies, and financial advisory. The industries that will benefit the most from applied AI are fintech, telecommunications, healthcare, aerospace and defense, and agriculture.
2. Generative AI
Artificial intelligence is causing widespread disruption in the tech world. In addition to applied AI, generative AI is also transforming the world. This emerging technology generates content such as texts, videos, images, codes, and audio. Unsurprisingly, the generative AI industry is expected to grow 35.6% from 2023 to 2030. The top functions to be affected by generative AI soon will be sales and marketing, research and development, customer operations, and software engineering.
ALSO READ: What’s the Fate of AI in 2023? 8 Pathbreaking Technology Trends
3. Web3
Another trend that makes it to the top of the tech trends 2024 list is Web3. The modern version of the Internet hosts decentralized applications running on blockchain technology. Emerging technologies like Blockchain-as-a-Service (BaaS), tokenization, and decentralization will offer several benefits to businesses. Moreover, companies can access a real-time view of their supply chain processes. Furthermore, decentralization will mitigate security risks as data will not be stored anywhere.
4. Immersive Virtual Experiences
Technologies like Augmented Reality (AR) and Virtual Reality (VR) create a virtual user environment. In the future, users are expected to experience haptic technology, which will accord them a sense of touch for the objects in a virtual space. Without a doubt, this technology is likely to disrupt the entertainment industry.
5. Robotic Process Automation
RPA is an advanced software technology that deploys robots to automate complex processes. In 2024, there is likely to be significant growth in companies using this technology. In fact, the robotic process automation market size is expected to have a CAGR of 37.9% by 2032. Furthermore, companies will focus on hyper automation and digital twin technologies; these will improve risk analytics processes and help monitor the performance of various solutions.
6. Green Technologies
As the climate change threat becomes more serious, green technology also makes it to the list of the top tech trends 2024. It includes developing technologies that consume less energy and non-renewable resources. An increasing number of companies are focusing on sustainable tech solutions. It is expected that by 2025, 50% of organizations will use metrics to track the sustainability of IT solutions. Some popular green tech examples include public clouds, Electric Vehicles (EVs), vertical farming, and smart grid technology.
7. Cloud and Edge Computing
Cloud computing technology helps with data analysis, management, and security. Ultimately, it supports efficient data-driven decision-making. Moreover, around 97% of companies leverage real-time data to improve customer services and optimize business processes. Therefore, the edge computing trend is on the rise. It is an advanced computing technology that processes data close to the user. This will help businesses reduce the cost and effort required to transmit data to a central location, thus reducing latency.
8. Quantum Computing
As the name suggests, this technology utilizes the principles of quantum mechanics to solve challenges that are too complex for traditional computers. Being one of the most important tech trends 2024, a large number of organizations are investing in discovering quantum computing applications, developing a quantum workforce, and building learning programs related to it. Companies might also focus on building hybrid solutions comprising both quantum technology and classic computing. The market size of quantum technology is likely to grow by 32.1% by 2030.
Next-Gen Software Development
Software development will move from lengthy and complex codes to building low code-no code applications by 2024. This trend will allow non-technical users to build applications without having advanced technical know-how. More companies will launch their code development tools, such as AI pair-programming tool GitHub, Copilot by GitHub, and Code Whisperer by Amazon. This trend will save time developing, testing, and deploying software applications.
10. Advanced Connectivity
Advanced wireless connectivity will be another of those popular tech trends 2024. Technologies like 5G and 6G are expected to boost productivity and improve user experiences, especially in the fields of healthcare and manufacturing. Moreover, there will also be an integration of various connectivity technologies such as Wi-Fi, cellular data, and low-Earth-orbit (LEO) connectivity with satellite connectivity.
ALSO READ: How Does Cloud Computing Work: Top 10 Applications and Examples in 2023
FAQS
1. How Will Tech Trends 2024 Impact Different Industries?
Innovation in 2024 will revolve around cutting-edge AI models and applications to streamline processes, advancing computing power and smarter devices. Tech trends 2024 will positively impact education, finance, supply chain and logistics, and telecommunication industries. These will help businesses with in-depth market research, automate complex processes, and provide custom solutions. Moreover, they will boost productivity and efficiency.
2. What are the Potential Opportunities and Challenges for Businesses as a Result of These Trends?
Innovation in 2024 is expected to cause widespread industry disruption. Businesses will have the opportunity to upscale their research and development and focus on innovations. However, at the same time, businesses will also have to face challenges such as data security, compliance, employee training, and intense competition in the market.
3. How Can Professionals Prepare Themselves for the Upcoming Tech Revolution?
One of the best ways for professionals to gear themselves up for the upcoming tech revolution and build their careers is to learn the latest skills and stay updated with key industry trends. This will help them to gain a competitive edge. Moreover, professionals can also read newsletters, blogs, and research papers to gain in-depth knowledge of the recent trends in the tech industry. Attending seminars and tech conferences is another effective way to stay updated.
4. What are the Specific Implications of These Trends on Job Roles and Skills Required in the Future?
Emerging tech trends in 2024 will likely bring a massive shift in jobs. While the tech workforce in the U.S. will grow twice that of other jobs, over 400,000 tech jobs will also be replaced. Hence, the future of technology has made it mandatory for tech professionals to upskill to advance their careers.
ALSO READ: Top 10 Tech Trends That Have Shaped 2023 So Far
To conclude, even though the global technology landscape has a huge growth potential in 2024, the industry will likely grapple with three major issues. These are uncertainties in the global economy, a lack of skilled workforce, and a hypercompetitive market creating an intense demand for innovation. The primary strategy for tech companies to overcome these challenges lies in building a skilled workforce. This has also created pressure on technology professionals, making upskilling the need of the hour. Therefore, the answer is clear. If you are a tech professional looking to acquire relevant skills and learn from the latest industry trends, sign up for Emeritus’ online technology courses and future-proof your career.
By Sneha Chugh
Write to us at content@emeritus.org
