Top 7 Technology Trends to Watch in 2024

Introduction

Technology continues to influence the world we live in, transforming company operations and human interactions. It is our job as futurists to forecast and analyze future technology and commercial changes. In this blog, we will look at the top seven technology trends that will be dominant in 2024.

1. AI (Artificial Intelligence)

Artificial intelligence, or AI, has been a buzzword for a decade, but its impact on our lives is only now becoming apparent. AI systems, particularly adaptive AI, learn and adjust continuously depending on real-time data. Large corporations have already adopted this technology to estimate demand and present consumers with individualized information. AI is demonstrating its supremacy in a variety of industries, from ride-sharing apps to speech recognition. However, there is ongoing discussion regarding whether AI can completely replace humans. The AI market is expected to be worth $190 billion by 2025, with global spending on AI systems topping $57 billion in 2023.

2. RPA (Robotic Process Automation)

Robotic Process Automation, or RPA, is a fast-expanding technology that uses AI and machine learning to automate numerous professions. According to McKinsey, RPA can partially automate roughly 60% of employment. This technology automates corporate functions such as data analysis, customer service, and manual labour. RPA creates new job paths for programmers, project managers, business analysts, and consultants. It does not require considerable training or adjustments to an organisation's infrastructure.

3. Three-dimensional printing

3D printing has transformed the industrial and biomedical areas, enabling the development of prototypes and even patient-specific bone replacements. Osoform, for example, specializes in medical 3D printing with materials that closely resemble human bones. Because hospitals can develop 3D models of implants based on patient-specific data, this technology streamlines complex surgical procedures. 3D printing has many applications, from economical house construction to the fabrication of tough armour.

4. Blockchain

Blockchain technology allows for the secure and transparent storage and protection of data. It has the potential to transform many facets of business, particularly the facilitation of trustworthy transactions. Information is saved in blocks that cannot be changed or destroyed on a blockchain, preserving the data's legitimacy. This technology is already widely employed in supply chain management and political campaigns. Blockchain eliminates the need for third-party verification, which increases security and transparency. Its adoption is predicted to increase further in 2023.

5 IoT (Internet of Things)

The Internet of Things is a network of interconnected smart gadgets that collect and share data without the involvement of humans. Because of the advancement of sensors and data analytic capabilities, this technology has acquired tremendous interest. Everyday products such as toothbrushes, vacuum cleaners, automobiles, and machinery may now collect data and reply intelligently to people. Over 50 billion objects are expected to be connected via IoT by 2030, with global spending on IoT technology exceeding $1.1 trillion. This expansion will have an impact on a variety of industries, including manufacturing and healthcare.

6. The Emergence of Super Apps

In one application, super applications integrate the elements of an app, a platform, and an ecosystem. These apps not only have their features, but they also allow third-party developers to create mini-apps within them. This approach, which has been pushed in China by corporations such as Tencent, has the potential to change the way we use software. Super applications combine several functions onto a single platform to provide convenience and efficiency. While mobile apps are now the most common examples of super apps, the notion can also be applied to desktop client programs.

7. 5D Dimensional Technology

5D technology, enabled by 5G networks, offers faster and more powerful communications with lower latency. This advancement in connectivity will catalyze a large IoT ecosystem, enabling billions of connected devices throughout the world. Because of its increased capacity, 5G technology can handle substantially more data, paving the way for breakthroughs in industries such as driverless vehicles and real-time communication. It is anticipated that by the end of 2025, 60% of organizations will be using five or more wireless technologies concurrently. 5D technology will continue to improve and adapt to society's changing needs.

Conclusion

As technology continues to progress at a quick speed, businesses must keep up with the latest trends to efficiently satisfy client requests. These top seven technology trends for 2023 will define the future of several industries and change the way we live and work. The possibilities are boundless, from artificial intelligence to 5D technology. Adopting these trends will not only result in increased growth and prosperity but will also pave the way for a more connected and innovative future.