The trends in technology define the era we live in. Research demonstrates the need for innovation to sustain competitiveness since discoveries are constantly being discovered and tools are being introduced one after the other to the market.
As we enter 2024, the situation remains the same. The year's main theme will be "Digital Transformation," with businesses having to adjust and integrate new technologies into their internal processes.
This article outlines the key technological trends that businesses should be aware of in 2024 and explains why investing in them is crucial.
Why Investing in Technology Trends Is Important
Consider your company as operating like a big piece of hardware with multiple installed applications and software. Updates must be continuously applied to this machine in order for it to operate at its best.
The adoption of new technology must provide the business with a similar kind of motivation.
To keep its technological foundation strong and make sure that its operations are updated to keep up with the movement, the company must invest in emerging technologies.
New technology sometimes needs large investments, which allows leaders to preserve a conventional culture. However, if companies are unable to implement all of the trends simultaneously, there is nothing that can keep them from starting small and upgrading their systems with the technologies that make the most sense at the time.
11 Key Technology Trends for 2024
There are 11 technical trends that we believe are noteworthy and that businesses should keep an eye on in 2024. They are as follows:
1. Smart applications
A class of software known as "smart applications" is enhanced by artificial intelligence (AI) and is based on data derived from external sources and transactions. The way that customers, users, architects, and developers interact with these apps has the potential to be revolutionized since they can learn from encounters and provide better autonomous replies.
Gartner predicts that by 2026, artificial intelligence (AI) will power 30% of new applications' adaptive and customized user interfaces.
2. Digital integrations and APIs
Digital integrations are the result of several corporate applications—platforms, apps, and systems—interacting harmoniously with one another.
Application Programming Interfaces, or APIs, help businesses integrate digitally by enabling them to:
Optimize the utilization of developers' working hours;
Expedite the release of new functions and solutions;
Cut back on operating expenses;
Boost the way your applications operate;
In addition to these benefits, 56% of decision-makers view APIs as assets that enable businesses to create better digital experiences and products, according to Apigee. Furthermore, by 2026, more than 80% of businesses should be using APIs as a strategy for both internal and external procedures, predicts Gartner.
3. Machine customers
Non-human agents that are capable of conducting negotiations and transactions on their own are referred to as machine clients. Automated purchasing systems, trading algorithms, and even smart chatbots that can communicate with businesses and make purchases on behalf of real customers can all be integrated with these technologies.
Gartner expects that by 2028, there will be 15 billion linked products that have the ability to act like customers.
4. Development augmented by AI
AI-augmented development is a concept that aims to boost developer productivity and performance by automating programming jobs, finding problems, and even writing code.
These professionals will be able to concentrate on high-value work since AI-based solutions will eliminate the need for them to focus on tedious and manual chores.
5. Platform Engineering
Platform engineering is the process of building internal, self-serve development environments. These platforms give teams the resources and tools they need to create solutions more quickly, which will boost output, shorten the time it takes to complete projects and allow for the agile delivery of new goods and services.
6. Increased connected workforce
With the use of technology like artificial intelligence (AI) and analytics, the augmented connected workforce enhances human skills and promotes productivity, well-being, and employee experience.
By 2027, 25% of CIOs plan to employ this technological trend to shorten the time it takes to become competent in the corporate setting.
7. AI Trust, Risk and Security Management (AI TRiSM)
As artificial intelligence grows, businesses need to take steps to make sure that their AI solutions are reliable, ethical, and safe, and that their actions don't have unfavorable consequences.
These strategies involve:
adoption of strict AI usage guidelines;
keeping an eye on AI solutions;
putting modern cybersecurity safeguards in place to secure intelligent systems.
8. Continuous Threat Exposure Management (CTEM)
This technological development entails monitoring danger exposure continuously, detecting weak points and regions where digital and physical assets are vulnerable.
The practice's goal is to create and put into action preventative measures to lessen potential threats and, via a continual approach, enhance security and safeguard the company's vital assets.
9. Democratized generative AI
A branch of artificial intelligence known as "generative artificial intelligence," or "GenAI," can automatically create, generate, or produce text, graphics, and even programming code.
It processes more intricate patterns than machine learning and is trained from massive data sets to comprehend and recreate information.
Numerous businesses will profit from this ability, starting with:
democratize knowledge by increasing access to information through GenAI-based applications;
automate the process of creating content since a generative model may build entirely new material based on the lessons it learned from the examples you were shown.
10. Cloud Platforms
With the use of cloud platforms, businesses can now better cater to the unique requirements of their enterprise.
In addition to enabling businesses to personalize environments and select resources according to their preferences, they integrate Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) services into a single offering.
Over 70% of businesses will accelerate their business initiatives by 2027 by utilizing cloud platforms.
11. Sustainable technology
Reducing environmental impact and promoting more environmentally conscious business practices in line with ESG (Environmental, Social, and Governance) are the main goals of sustainable technologies. ESG serves as a guide for good practices and investments to make more responsible and sustainable management of environmental, social, and corporate points of view.
The adoption of energy-intensive technologies such as artificial intelligence, cloud computing, the Internet of Things, and others has made businesses realize how crucial it is to maximize energy efficiency. Additionally, new technologies are being used in the business context to track and enhance environmental performance.
After learning about all of the technology developments, which one do you want to implement in your organization by 2024? The culture of engineering is entirely centered around digital transformation. Please contact us to see how we can assist you in getting your business ready to adopt many of these technological trends!
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