As 2024 unfolds, the technology landscape is poised for significant developments across various domains. Leading research firms and experts have offered insights into the trends that are expected to shape the year ahead. From the evolution of Artificial Intelligence (AI) to the surge of FemTech in healthcare, these trends promise to influence industries and redefine the way we interact with technology.
Gartner’s tech trends
Gartner, a renowned research and advisory company, has presented its perspective on the technology trends for 2024. While their report includes some intriguing concepts, it has received mixed reviews due to the creation of complex acronyms and convoluted terminology.
AI as Partner: AI Trust, Risk and Security Management (AI TRiSM)
Gartner highlights the growing importance of AI as a partner in various aspects of life and business. This trend, encapsulated in the acronym AI TRiSM, underscores the need for trust, risk management, and security when integrating AI into daily operations.
Be Safe: Continuous Threat Exposure Management (CTEM)
Continuous Threat Exposure Management (CTEM) safeguards organizations against evolving threats. It encompasses the use of technology to continuously assess and mitigate potential risks, emphasizing the critical role of cybersecurity.
Protect the Future: Sustainable Technology
Sustainability takes center stage in 2024 as organizations increasingly prioritize eco-friendly practices and technologies. Sustainable Technology aims to reduce the environmental impact of tech innovations while supporting long-term ecological balance.
Developer-driven self-service: Platform Engineering
Platform Engineering empowers developers to take control of their work through self-service tools. This trend fosters innovation and collaboration by allowing developers to independently build and iterate on platforms.
Accelerate creation: AI-Augmented Development
AI-Augmented Development represents the integration of AI to expedite the creation of software and solutions. It streamlines development processes, making them more efficient and productive.
Tailor your tailor’s work: Industry Cloud Platforms
Industry Cloud Platforms offer tailored solutions to specific sectors, enhancing efficiency and addressing industry-specific challenges. These platforms provide customizable tools and services to cater to the unique needs of various industries.
Optimize decision-making: Intelligent Applications
Intelligent Applications leverage AI and data analytics to enhance decision-making processes. They provide actionable insights and recommendations, improving efficiency and outcomes.
Power AND responsibility: Democratized generative AI
Democratized Generative AI emphasizes the importance of balancing power and responsibility in AI development. It encourages accessibility and responsible use of generative AI technologies.
Push the pioneers: Augmented connected workforce
Augmented Connected Workforce integrates technology to enhance the productivity and capabilities of employees. It fosters collaboration and innovation in the workplace.
Buyers With Byte(s): Machine Customers
Machine Customers represent the rise of automated entities in the consumer landscape. These machine-driven customers interact with businesses and services, transforming the way commerce is conducted.
Deloitte’s perspective on generative AI
Deloitte, another prominent player in the technology consulting and advisory field, offers a more straightforward view of the technology trends for 2024. They highlight generative AI as a key driver of developments in the year.
Deloitte’s Chief Futurist, Mike Bechtel, emphasizes that generative AI builds upon the evolution of machine intelligence capabilities that have been progressing for decades. This technology enables AI to perform tasks such as content creation and problem-solving, revolutionizing various industries.
All things distributed on AI advancements
All Things Distributed, a source known for its insights into technology trends, shares its perspective on AI developments in 2024. They anticipate several key advancements:
Generative AI becomes culturally aware
AI models trained on diverse cultural data will gain a more nuanced understanding of human experiences and societal challenges. This cultural fluency will make generative AI more accessible and relevant to users worldwide.
AI assistants redefine developer productivity
AI assistants are expected to evolve beyond basic code generation, becoming teachers and collaborators that support developers throughout the software development lifecycle. They will simplify complex systems, offer targeted improvements, and handle repetitive tasks.
Education evolves to match tech innovation
The rate of technological change surpasses the capabilities of traditional higher education. As a result, industry-led skills-based training programs will emerge, resembling the paths of skilled tradespeople. Continuous learning will become essential for both individuals and businesses.
FemTech takes off
Women’s healthcare is poised for significant growth as FemTech investment surges. Hybrid care models, coupled with abundant data, will lead to improved diagnoses and patient outcomes. The rise of FemTech promises benefits for women and the healthcare system.
Chargebacks911’s banking technology predictions
Chargebacks911, a company specializing in chargeback resolution and fraud prevention, offers a unique perspective on banking technology trends for 2024. Here are their top ten predictions:
Artificial intelligence (AI)
AI continues to dominate the technology landscape, enhancing banking operations through chatbots, biometrics, and advanced data analysis. AI plays a transformative role in decision-making, security, and customer interactions.
Banking process automation
Banking process automation, driven by robotic process automation (RPA), streamlines various banking tasks, from invoice processing to fraud detection. This automation improves efficiency, compliance, and data-driven insights.
Blockchain & DeFi
Blockchain’s transparency and security redefine financial transactions, particularly with the rise of decentralized finance (DeFi). Smart contracts and peer-to-peer payments streamline trade and offer more inclusive financial services.
Advances in cybersecurity
Banks prioritize cybersecurity measures to protect vast data repositories. Tailored protocols, encryption tools, and AI-driven fraud detection mechanisms guard against evolving threats and ensure customer trust.
Hyper-personalized banking
Banks emphasize personalized experiences through omnichannel banking and AI-driven recommendations. Wealth management and buy now pay later (BNPL) projects enhance customer engagement and satisfaction.
Immersive technologies in banking
Augmented and virtual reality technologies redefine customer and employee interactions. VR-driven training modules and virtual showrooms enhance user engagement, providing a deeply engaging banking experience.
Neobanking
Digital-first neobanks offer convenience and efficiency, operating without traditional brick-and-mortar constraints. These banks provide integrated services at reduced costs to customers, thanks to lower overhead spending.
Open banking
Open banking fosters collaborations between traditional banks and non-banking financial companies (NBFCs). Third-party developers access data securely through banking APIs, leading to innovations like embedded banking and banking-as-a-service (BaaS).
Quantum computing in banking
Quantum computing offers enhanced processing capabilities, benefiting tasks from portfolio optimization to cybersecurity. Startups are developing cost-effective quantum solutions tailored for the banking sector.
Transition to the cloud
Banks shift to cloud computing to gain agility and scalability. Cloud flexibility allows banks to adapt to market changes, drive innovation, and cater to evolving customer needs while enhancing security and data integrity.
2024 promises to be a year filled with technological advancements across various sectors. Whether it’s the evolution of AI, the surge of FemTech in healthcare, or the transformation of banking through AI and blockchain, these trends are set to reshape industries and pave the way for a technologically progressive future.
