The new year is already in full flight, and with it comes a number of technology trends that businesses and individuals need to be aware of in 2024, and beyond.
Technology Trend #1: Cyber Security Evolution
In the rapidly evolving digital landscape experienced in recent years, the importance of cyber security cannot be overstated. As technology trends advance, so too do the threats and potential dangers faced for companies. Heading into 2024, this technology trend will do anything but slow down, instead, organisations should be preparing for an uptick in attacks and plan accordingly.
Not only will there be an increase in the number of attacks, but also the sophistication levels. The rise of “Advanced Persistent Threats” (APTs) in particular, will continue to be a major concern throughout 2024. APTs are sophisticated, long term cyberattacks mainly orchestrated by well-funded and highly skilled cyber criminals. Unlike typical cyberattacks that are more so designed for immediate threats, APTs are more so designed to sit and gather valuable information over a long period of time.
Combatting cyberattacks should be quite high on the list of priorities for businesses in 2024. There are a number of ways that companies can be preparing for potential attacks, such as with intrusion detection and prevention systems (IDPS), multi-factor authentication and security awareness training.
A fantastic way of ensuring you or your company is safe, is to have an audit performed on your company to guarantee that your systems are not compromised, or at risk of doing so. Adept IT Solutions specialises in IT compliance and auditing, so feel free to contact the team on 1300 4 23378 (ADEPT) or email us at info@adept-it.com.au to guarantee your system safety.
Technology Trend #2: Automation
Automation is, put simply, the use of technology to perform and complete tasks with the intention of minimising the input of humans. The benefits of such a process are ultimately aimed at cutting costs and maximising profits, but it is also being progressed so intensely due to the overall benefit that it can have to businesses, especially in today’s digital age.
As an indication of just how extensive automation is becoming as a concept, Fortune Business Insights published in their forecast that the global Industrial Automation Market size is projected to grow from around 190 billion to just under 400 billion (USD) by 2029.
This clearly shows how rapidly and extensively automation as a concept is growing. IT automation is ever growing, and in the cyber security and tech support sectors, is aiding businesses more and more as time goes by. Incident Management, Application Deployment and Security/Compliance are three of the major areas where automation is having a large impact on the IT world.
Technology Trend #3: Artificial Intelligence
Artificial intelligence, or AI as it is commonly known, is a technology trend taking the world by storm. In the last 12 months alone, AI has progressed at a rate that many onlookers even describe as worrying. The use of AI in the IT world is something that has both pros and cons, which is consistent with all areas in which it has entered in recent times.
Due to the complex nature of AI, the IT world is in somewhat of a balancing act when it comes to the choice to embrace and drive the innovations seen, whilst being aware of traditional methods and processes being made obsolete.
One of the major ways that AI is being used in the IT industry is through its learning processes. That can be through both machine learning and deep learning. An example of this has been seen with self-solving service desks. Through machine learning, the AI can analyse a large amount of company input data, allowing it to provide customers with accurate suggestions and potential solutions to issues that have arisen. The AI then continues to learn from the results of their own actions, self-improving the accuracy as it continues to work.
Technology Trend #4: Generative AI
Generative AI is another technology trend increasing in 2024, and a further example of artificial intelligence and its effectiveness in today’s world. However, similar to the concept of AI in general, it does come with warning signs and concerns. It first surfaced in mainstream media in 2023, with the expectation that it will grow exponentially in 2024 with continued advancements.
Gartner have suggested that by 2027, 70% of professional developers will use AI-powered coding tools, increasing hugely from the current figure of 10%. Furthermore, according to an International Data Corporation forecast in late 2023, there is a forecasted compound annual growth rate of 73.3% in regard to spending, meaning it will reach a mammoth $143 billion in 2027.
These predictions are evidence of the fact that not only will there be an increase in the prevalence of generative AI, but the true “winners” will be those who are able to blend AI and human intervention effectively to achieve the business’ goals. Whilst there is a degree of fear factor in relation to artificial intelligence and what is has to offer, those who embrace and capitalise on the concept will ultimately benefit in the long term.
Technology Trend #5: Virtual/Augmented Reality
Virtual and augmented reality is a technology trend related to the merging of physical and digital spaces, in real time.
Virtual reality is computer generated environments and items that appear to be real, with the concept attempting to make the user feel that they themselves are a part of the created setting.
Augmented reality, however, is slightly different, with our own physical surroundings being the framework for the created images and objects to be placed upon.
Virtual reality is not a new concept; however, advancements are being made as each year passes, and in combination with augmented reality, it is becoming a powerhouse in the technology space. From something as simple as virtual tours of houses in real estate, to more intricate uses, such as in medicine with surgery examples without the risk.
Augmented reality has several highly practical uses for consumers, whilst showcasing its true potential within the industrial area. Examples of this are with the idea of GPS technology in modern day cars. Rather than using a physical 2D screen to navigate through provided directions, the technology now exists to use augmented reality to show a 3D version on the windscreen within the driver’s eyesight, providing directions via this technology.
In the industrial world, quality assurance is an area that is reaping the rewards of augmented reality. It is now common practice now in some industries to complete time-consuming inspection processes with AR. This is not only a time saver, but has also proven to be less prone to human error in many cases.
Technology Trend #6: Sustainable Technology
Sustainable technology is a technology trend that will take centre stage in the coming years, let alone 2024. As not just companies, but also countries look to meet net-zero emission commitments, sustainable technology will be at the forefront of the minds of many.
Sustainable technology as a concept is simply about introducing more environmentally friendly methods of performing and completing tasks/projects that we already do to this day. Some clear and obvious examples of this can be seen with electric versions of transport, such as cars and public transport, solar powered buildings and infrastructure, and energy storage using lithium and cobalt batteries.
Another example of a sustainable technology trend heading into 2024 is that of green cloud computing, which is aimed at reducing energy consumption, as well as cutting down carbon emissions when it comes to cloud computing practices. Green cloud computing is a highly effective method of sustainable technology, and whilst seen as a new trend, should realistically be seen as a necessity. This method can include solar-powered devices, energy efficient algorithms and moving from physical servers to cloud storage.
Whilst many companies simply utilise these technologies for good PR, it should be a priority for companies looking ahead to the future to maintain high sustainability standards, to ensure a better world for all in the years to come.
Technology Trend #7: 5G Connectivity
5G connectivity is a technology trend that has been increasingly prevalent in recent years, however 2024 will see it taken to all new levels. 5G, compared to the 4G that has been present for many years now, is bringing in all new possibilities for businesses.
As mentioned previously in this article, augmented and virtual reality will be a growing trend in 2024, and advancements in 5G are the driving force behind these technology trends. The enhanced speed of 5G, in comparison to 4G, is a game-changer, allowing for applications to be used that require real time updates and interactions.
As with any technology advancement, 5G does indeed come with some concerns about potentially negative features. The rapid increase of 5G devices, and the exponential growth in the number of connected devices significantly expand the attack surface for cybercriminals. With an increase in entry points to the network, there also comes an increase in the likelihood of security breaches as a result.
Ultimately, the technology trend that is 5G connectivity is more of a positive than what the potential negatives insinuate. Ultra-fast speeds, low latency, smart cities/infrastructure and rural connectivity and digital inclusion are just a small number of the incredible features of 5G and how it is positively impacting society heading into 2024 and beyond.
Technology Trend #8: Quantum Computing
One of the more interesting technology trends heading into 2024 is quantum computing. In simple terms, quantum computing is an area of computer science, physics and mathematics, that is focused on the development of quantum theory technologies.
The development of quantum computing is expected to mark a leap forward in regard to computing capabilities, with the potential for large performance gains in specific use cases. For instance, tasks such as integer factorisation and simulations are where quantum computing will excel, showing the potential for industries such as pharmaceuticals, healthcare, manufacturing, cybersecurity and finance.
According to the report “Quantum Computing Market” from Markets N Research, the global quantum computing market in 2021 was valued at $395 million (USD), with predictions that by 2028, this will grow to approximately $532 million (USD). Continued investment and research into this technology trend in 2024 and the years to follow will only expand and improve the effectiveness of quantum computing, leading to advancements that will progress a large number of fields.
Technology Trend #9: Platform Engineering
Platform engineering has emerged in recent years as another technology trend that is set to take the world by storm. As organisations increasingly recognise the strategic importance of digital platforms, the role of platform engineers becomes pivotal in shaping the future of technology.
A well-engineered platform is designed to scale effortlessly. This is necessary to accommodate growing workloads and user bases. Scalability is not purely related to handling more significant loads, but also adapting to fluctuations in overall demand. Cloud-native architectures are integral to this scalability, allowing businesses to allocate resources dynamically and reactively as needed.
Platforming engineering is also important from a cost optimisation perspective. Platform engineering contributes to cost efficiency by promoting resource optimisation and the previously mentioned scalability. Cloud based infrastructure, for example, allows organisations to pay for the resources they use, avoiding unnecessary costs associated with maintaining on-premises data centres.
Technology Trend #10: Blockchain Evolution
Blockchain evolution, beyond its association with cryptocurrencies, is evolving to become a fundamental technology trend for secure and transparent transactions. Businesses in 2024 are exploring the concept of blockchain for areas such as supply chain management, smart contracts, and decentralised finance.
This technology ensures the integrity of data and can revolutionise industries by providing a tamper-proof, decentralised ledger. All transactions on a blockchain are recorded in a transparent and immutable ledger, once a block is added to the chain, it cannot be altered or deleted. This ensures data integrity, as well as building trust among those involved in the transaction, whilst further reducing the risk of fraud and errors.
This increased security enables businesses to continue working without concerns over potential issues related to sales and finances. This removal of worry allows the business to then focus even further on their profession, spending less time on financial security.
