Navigating the Future: Predicted Technology Trends for 2024
As we approach 2024, the world of Information Technology (IT) continues to evolve at a breathtaking pace. Innovations in digital technology are not just reshaping businesses but are also having a profound impact on our daily lives. In this article, we’ll dive into some of the most anticipated IT trends for 2024, offering insights into what the future may hold for technology enthusiasts, professionals, and businesses alike.
Artificial Intelligence (AI) and Machine Learning (ML) Advancements
In 2024, AI and ML are expected to move beyond current applications, becoming more sophisticated and integrated into a wider range of industries. Over 70% of organizations are currently using some form of AI-powered automation, with plans to increase investment in the coming years. And today, 80% of executives view AI as a business advantage and crucial to their organization’s success.
Advancements in natural language processing, computer vision, and predictive analytics will enable businesses to offer more personalized services and make more informed decisions. For IT teams, this comes at a particular advantage as it relates to predicting software and hardware performance, empowering us to be proactive about our investments and expenditure—especially at a time where economic headwinds continue to shift.
Lastly, IT leaders may also be at the helm of some significant decisions as it relates to AI usage within their organizations. With the rise of AI ethics as a key concern, now is the time for your organization to start considering policies and procedures to both leverage and limit the use of AI at work.
Increased Emphasis on Cybersecurity
With the increasing amount of data being generated and stored online, cybersecurity will remain a top priority. We can expect advancements in encryption technologies, more robust security protocols, and an increased demand for cybersecurity professionals.
As of June 2023, there were 1,129,659 job openings in the cybersecurity workforce, pointing to a substantial demand—and with cybersecurity risks continuing to evolve and heighten, there’s no sign of this slowing. Modern risks like hacktivism, deepfakes, and zero day exploits go to show that the level of sophistication and malicious intent for using technology as a destructive force are only on the rise.
Expansion of IoT and Smart Technologies
The Internet of Things (IoT) is set to become more prevalent in 2024, with smart technologies penetrating homes, workplaces, and cities. This will not only enhance operational efficiency but also improve the quality of life through smart healthcare devices, connected vehicles, and automated home systems. By 2030, it's forecasted that 75% of all devices will be IoT devices, indicating a substantial integration of IoT into everyday technology. So what does this mean for IT teams?
Enhanced Network and Data Management: With more IoT devices connecting to networks, IT teams will need to manage and maintain more complex network infrastructures, ensuring reliable connectivity and high-speed data transfer.
Increased Security Risks: IoT devices can be vulnerable to cyber attacks, increasing the risk of data breaches. This underscores the need to implement robust security measures, including regular updates and patches, to protect against potential threats.
Data Analytics and Integration: The vast amount of data generated by IoT devices requires sophisticated analytics tools. IT teams will need to integrate and interpret this data effectively for business insights.
Compliance and Privacy Concerns: With data privacy regulations becoming more stringent, IT teams will need to ensure that IoT deployments comply with these regulations, particularly in terms of data collection, storage, and processing.
Growth of Edge Computing
Jumping off our last point, edge computing is on the rise—and it’s because of things like IoT. Unlike traditional cloud computing that hosts data in centralised data centres, edge computing processes data on local devices. This approach is particularly beneficial for applications requiring real-time processing, low latency, and reduced traffic to centralised servers—such as IoT networks.
The edge computing market is estimated to witness significant growth in the coming years, reaching about USD 143.24 billion by 2032. This growth is important for IT teams to consider as edge computing comes with several benefits, such as reduced latency, decreased bandwidth usage, enhanced security, and a reduced dependency on centralised networks—all of which are conducive to an environment that’s IoT intensive.
Sustainability in Tech
As climate change concerns grow, sustainability will become a key focus in the IT sector. In the coming years, we will likely see more energy-efficient data centres, eco-friendly hardware, and software solutions designed to minimise carbon footprints. Companies will also emphasise the responsible disposal and recycling of electronic waste. So, what's on the horizon in 2024?
The tech industry is shifting to what’s called the “circular economy” to address electronic waste. Manufacturers are designing products that are easier to disassemble, repair, and recycle—promoting sustainable device lifecycles. And when it comes to cloud computing, we’re seeing greater investments in renewable energy sources for powering data centres, as well as innovations in energy-efficient hardware. These are trends we’re here for!
Remote Work and Collaboration Technologies
Earlier this year, it was predicted that 39% of global knowledge workers would work in hybrid models by the end of 2023. And post-pandemic, remote work is here to stay.
In 2024, we can expect further evolution in collaboration tools, making remote work more efficient and seamless. Virtual reality (VR) and augmented reality (AR) may start playing a significant role in remote team interactions, offering more immersive and interactive experiences. This one gives us chills!
But with the upside comes potential challenges—and cybersecurity is at the top of the list. About 45% of businesses cite it as a significant issue when it comes to remote work, highlighting the need for strong IT infrastructure and security protocols to support remote and hybrid work models.
Stay Current with IT Trends
All in all, the IT landscape in 2024 promises to be dynamic and transformative. While these trends offer exciting opportunities, they also present challenges that businesses and individuals should prepare for. Staying informed and adaptable is key to navigating this ever-evolving landscape. So, subscribe to our quarterly newsletter to stay up-to-speed on what’s happening throughout the year!
