Digital transformation is perpetual, an ever-evolving process that promises to reshape our world in myriad exciting ways. The breakthrough trends of 2023 will persist, driving innovation and influencing life, society, and the planet.
Below is an overview of these game-changing trends, accompanied by predictions for their ongoing impact.
1. Generative AI
In 2023, generative AI made its mainstream debut, and 2024 is the year it will flourish. As it spreads into everyday applications such as search engines, office software and communication tools, we will become even more appreciative of its capabilities. When harnessed effectively, generative AI acts as a highly intelligent personal assistant that enhances our efficiency, speed, and productivity.
By delegating routine cognitive tasks like information retrieval, scheduling, compliance management, idea organisation, and project structuring to AI, individuals will reclaim time to focus on uniquely human skills. This shift will enable more opportunities for creativity, exploration of new concepts, original thinking, and meaningful human interaction, rather than mere machine programming.
2. Phygital Convergence
The merging of the real and digital realms is accelerating with technologies such as augmented reality (AR), virtual reality (VR), and the immersive internet. This trend can be seen in work, with remote collaboration via platforms like Zoom and Teams, and leisure, as online gaming and e-sports surge in popularity. Many of us have also curated digital personas on platforms like TikTok and Instagram, blurring the lines between our real and virtual selves.
This concept, known as the digital twin, is prevalent across industries - it represents a virtual counterpart of real-world objects, systems, or processes derived from real-time data. Genomic advancements have allowed us to translate life's fundamental essence into digital code, enabling the manipulation and creation of new drugs and propelling disease eradication in the real world.
In 2024, the boundaries between these worlds will blur further, with digital representations becoming increasingly lifelike and the real world becoming as adaptable as the digital realm.
3. Sustainable Technology
Sustainable technology will continue to lead the way as nations and businesses pursue net-zero goals, embracing practices like the rise of electric vehicles and public transportation, alongside innovations in carbon capture, storage, and renewable energy technologies.
Furthermore, the circular economy will gain traction with products designed for durability, recyclability, and reusability from the outset. Concepts like green cloud computing, aimed at reducing energy consumption and carbon emissions, will see increased adoption. Sustainable apps promoting eco-friendly living will also proliferate.
However, challenges persist for users and developers alike, such as ethically sourcing materials, adapting infrastructure for electric vehicle adoption, and ensuring equal access to green alternatives. Additionally, there will be a heightened focus on detecting and combating greenwashing tactics, which seek only to generate positive PR without genuine environmental impact.
4. Cyber Resilience
According to research, half of businesses have fallen victim to successful cyberattacks in the past three years, with the projected cost to industry surpassing $10 trillion by the end of 2024. In response to this escalating threat, organisations should prioritise technology solutions to strengthen defenses and mitigate risks.
It should be noted that cyber resilience extends beyond cybersecurity, encompassing strategies for recovery and continuity in the event of breaches or unforeseen circumstances. An example is implementing remote working protocols to maintain operations when physical access to central locations is restricted - a facet of technology solutions often overlooked in traditional cybersecurity frameworks.
In short, cyber resilience strategies will be imperative in 2024. As cyber threats grow in sophistication, competition to innovate with technologies like AI intensifies, making cyber resilience a focal point across business and consumer technology sectors.
5. Quantum Computing
This year we will be poised to witness tangible benefits from the buzz surrounding quantum computing. Quantum computers leverage unique aspects of quantum physics like entanglement and superposition to perform numerous calculations simultaneously, utilising quantum bits (qubits) capable of existing in multiple states at once, unlike traditional binary bits.
Early adopters in quantum technology include banks and financial institutions aiming to bolster AI systems for fraud detection, risk management, and high-frequency trading. While not applicable to all computing tasks, 2024 may usher in quantum computing's application across compute-intensive domains such as drug discovery, genome sequencing, cryptography, meteorology, material science, optimising complex systems like urban traffic flow, and even the quest for extraterrestrial life.
This article is adapted from the piece by Bernard Marr @ Forbes.
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