The top 5 tech trends of 2024: A glimpse into the future
As technology's ever-advancing march continues, our fascination with predicting its trajectory grows stronger. In this article, we'll delve in 2024 tech trends that will shape the tech landscape in the next year and beyond.
Our goal is not just to educate you on "2024 tech trends". We also want to provide you with a deep understanding of what lies ahead. You'll then have the knowledge to navigate the world of technology in 2024.
1. Generative AI: A defining factor of 2024's tech landscape
In 2024, the dominant tech trend will be using Generative Artificial Intelligence (AI). A study by PwC estimates AI could add up to $15.7 trillion to the global economy by 2030. A big part of this spend will come from generative technologies.
Gartner predicts that the use of conversational AI within enterprise applications will rise significantly. By 2024, it's projected that 40% of these will use this technology, up from less than 5% in 2020. This growth is further evidence of the impact generative AI is set to have in the coming years.
Unleashing the power of Generative AI
Generative AI is versatile and formidable, unlocking endless possibilities. Here are some tools that you can explore in 2024 to harness its power:
GPT-3 by OpenAI: A language model that generates text resembling human expression.
RunwayML: An innovative arsenal for artistic and creative minds, powered by machine learning.
DeepArt.io: Turns photos into stunning art using advanced neural networking technology.
Generative AI isn't only a tech trend; it's a revolution ready to make its mark on 2024 and beyond.
2. Cybersecurity: Shifting from a top priority to an absolute necessity
In 2023, we saw cybersecurity breaches across industries from hospitality to internet software. 2024 Tech trends mean companies must invest in advanced security technologies to protect their assets. According to Cybersecurity Ventures, the cost of cybercrime will be $10.5 trillion by 2025, up from $3 trillion in 2015. This alarming surge illustrates the pressing and ever-growing threat posed by cybercrime.
In a report by Accenture, the cost of a cybercrime incident averaged $13 million in 2021. Experts predict that this cost will increase by 15% by 2024, emphasizing the need for strong cybersecurity measures.
The crucial role of IT leaders in safeguarding cybersecurity.
As businesses adopt new technologies, securing them becomes challenging. IT leaders must strengthen their tech stack and focus on training sessions. These must follow regulations and guidelines to mitigate risks and ensure business safety.
Successful leaders see cybersecurity as a way to help their business. They'll include it in everything they do, instead of thinking of it as a limitation.
3. Green Tech: Embracing the technological revolution towards sustainability
Top technology companies are embracing Green Tech and will continue to do so into 2024. For instance, Apple has set a commendable goal of achieving 100% carbon neutrality by 2030. Meanwhile, Google plans to make its data centers and campuses carbon-free by 2030.
As environmental awareness grows, we predict a greater adoption of Green Tech in 2024. According to Statista, Green Tech investments in the United States will go from $40.6 billion in 2019 to $83.4 billion in 2024.
According to the latest CEO survey by PWC,39% of CEOs are concerned about the future of their businesses. They believe that switching to green technologies is necessary to address these concerns. The fact that 75% of consumers are more likely to buy from companies fighting climate change supports this. Such efforts not only enhance brand image but also foster customer loyalty.
The role of technology in promoting sustainability
As the demand for Green Tech rises, technology's role in driving sustainability will grow. Technology is essential in this move towards a greener future. This includes the use of AI-powered smart grids and blockchain-enabled supply chains. Other examples include:
Google's DeepMind AI: reduces energy consumption in data centers by 40%.
GreenWave Reality: enables users to track and reduce energy usage.
IBM Food Trust: promotes sustainable and ethical sourcing with blockchain-based traceability.
Balancing technological advancements with eco-friendly practices is crucial. Tech companies that care about sustainability help create a greener future. They also earn the trust of customers who focus on the environment.
4. Companies will embrace new technologies at an even faster rate
In 2024, the digital transformation wave will gain further momentum. This will be around operational efficiency, customer satisfaction, and competitive differentiation. We saw the rapid transformation of the AI Boom into an AI arms race in 2023, as companies scrambled to stay ahead. Organizations are now investing in reskilling efforts, a continuing tech trend for 2024.
Gartner predicts that in 2024, only 25% of enterprise meetings will take place in person. This is compared to 60% before the pandemic. This signifies an accelerated adoption of digital collaboration tools. TechRepublic also reports that 43% of IT budgets will go on digital transformation in 2024. This illustrates the growing significance of technology investments in business strategies.
The importance of digital literacy in the workforce
New technologies are causing a need for digital literacy. Companies are realizing that it's important for employees to understand technology. They know that having a digitally literate workforce helps them make the most of their technology investments. As McKinsey notes, tech literacy is now a CEO and board-level issue. It's essential to equip employees with the tech skills to maximize their potential.
Moreover, digital literacy fosters a culture of continuous learning within organizations. In 2024, we expect to see more digital literacy initiatives as companies aim to stay competitive.
5. The role of IT leadership will change
Digital communication has made it easier for remote teams to work together. But as companies embrace a "Return to Office" (RTO) approach, IT leaders need to change their strategies.
According to Gartner, CIOs expect to spend 69% of their time on leadership and strategic activities in 2024. This is up from 56% in 2021. This shows a change from focusing on technology to strategy.
IT leaders in 2024 must have more than just technical expertise. They need skills in remote team management, change management, and leading digital transformation. In 2024, IT leaders need technical skills, strategic planning abilities, and team management skills.
The evolution of IT leaders
IT leaders play a crucial role in guiding companies. They connect technology with business goals. They also bridge the gap between technology and the organization.
However, the role of IT leaders is undergoing a transformation. The profession has changed. It used to be all about technical skills. Now, soft skills are also important. You need them to manage teams in hybrid work situations. You also need them to create a positive work environment. This environment should promote innovation in the whole company. This shift will be crucial in ensuring the success of companies in 2024 and beyond.
Embracing the tech-rich future
In 2024, advancements in technology will greatly impact our lives, work, and interactions. IT leaders will need a range of skills from technical, to strategic vision, and everything between. We can succeed in 2024 by staying agile and embracing new trends quickly.
Exclaimer is at the forefront of this transformation, embracing future-facing tech trends. As a trailblazer in cloud-based email signature management, we believe technology is not only a tool, but part of our very being. Learn more about how Exclaimer can revolutionize how you use business email in 2024 and get yourself a free trial.