As a result of the pandemic, the pace of technological innovation has increased in 2024. Several factors have forced IT professionals to realize their role cannot remain the same as before contactless technology emerged.
There may be more strategic and revolutionary developments in 2024 if these newer trends continue to gain traction and intensify. According to a survey, the technology industry is experiencing a 5-6% growth rate yearly. You can gain an advantage over your competitors by recognizing emerging technology trends earlier.
Despite the challenges associated with predicting how trends will evolve, certain sunrise technologies are on the right track. They have gained considerable attention, are exhibiting promising results, and may be able to assist enterprises in embarking on an innovation journey. The following are our top picks for emerging technologies for 2024, with an overview of their potential:
Cyber security
According to a study by Gartner, cyber security mesh practices will soon dominate the information security industry. This technology reinforces the importance of cyber security by offering multiple levels of security assurance for a network.
Technologists are becoming increasingly involved in product development as technology integrates more deeply into products (for example, IoT devices).
Cyber expenditures are expected to be highest in managed security services (30%), information security (22%), security for mobile devices (9%), and security for email and web (8%).
The following are some cyber security trends that will be prevalent in 2024:
- Broad adoption of zero-trust security networks
- Setting up staff matching pools
- Access management protocols and multiple identities
- Implementation of security features promptly
- Increased requirements for compliance and security testing
- Increased participation of technology-savvy executive board members
Artificial Intelligence
AI offers many opportunities for transforming and streamlining businesses in different sectors, from finance to healthcare. AI can train, learn, analyze, and generate large amounts of output, allowing it to replace most of the manual tasks humans perform daily.
Industry cloud platforms
Gartner has reported that about 40% of companies have already implemented industry cloud platforms. By 2027, businesses will use this technology to speed up at least half of their critical business initiatives. A cloud platform designed for the industry uses features specific to the industry in conjunction with an architecture that integrates data that enables a rapid response to market changes.
Through the use of industry cloud platforms, businesses can achieve enhanced agility when managing their workloads. Also, they can facilitate changes to business processes, data analysis, and compliance. Combining web-based and traditional computing platforms can increase flexibility, accelerate the time to value, and meet the needs of vertical markets.
Metaverse
Imagine an immersive digital world in which individuals can interact with each other using their desired avatars. This year, the metaverse has undoubtedly generated a lot of attention. However, it must continue to develop in order to be adopted globally. Metaverse technologies, such as AR, VR, and MR, provide companies with new opportunities.
Leaders from various industries are determining how they can position themselves as crucial players in this new ecosystem. A retailer may be able to sell its products virtually to avatars of people in the metaverse. Once the buyer has tried the physical product on their avatar, they can sell it through the metaverse. The real estate industry is also exploring the potential of renting and selling virtual space in the metaverse.
Robotic Process Automation (RPA)
In addition to AI, another technology that automates jobs is Robotic Process Automation, or RPA. A software program is used in RPA to automate various business processes, including application management, transaction processing, and data management. The role of RPA is to automate repetitive tasks previously performed by individuals.
According to a Forrester Research, robotic process automation threatens the livelihood of more than 230 million knowledge workers worldwide, which is 9% of the global workforce. RPA, however, also creates new jobs and changes the nature of existing jobs. According to McKinsey & Co, fewer than 5% of jobs can be automated completely; however, up to 60% can be automated to a certain extent.
Blockchain
Blockchain technology is often associated with cryptocurrencies, but the technology offers numerous other benefits as well. Blockchain is data that can only be added to, not taken away or altered. In other words, you are creating a chain of data, hence the term “chain.”
The fact that previous blocks cannot be changed makes it so secure. Additionally, the blockchain is a consensus-oriented technology, meaning no single entity controls the data. Transactions on the blockchain do not need to be overseen or validated by third parties.
Blockchain technology is being implemented and used in several industries, and there is an increasing demand for qualified professionals. As a general overview, a blockchain developer is responsible for designing and deploying blockchain-based architectures and solutions.
Conclusion
Technology is an unstoppable force. To ensure that you benefit from what comes your way, you must always be prepared and adapt to it. Otherwise, you might find yourself lagging behind the rest of the world. Currently, the world is shifting online, and the physical world is affected by the changes brought about by modernization and digitalization.
All six of the trends mentioned above are currently experiencing rapid growth. These technologies likely foreshadow the next generation of technology that will determine how human technology will develop. These trends, which enable increased connectivity and automation of business processes, may be the beginning of a more significant change in our daily lives.
