The tech landscape in 2024; predictions and transformations
As we enter 2024, the technology sector braces for significant changes and advancements. This year is poised to be pivotal, with transformations spanning from artificial intelligence to sustainability. Let's dive into some key predictions for the tech world in 2024.
You could be forgiven for thinking that AI will dominate the new year, but other issues run the risk of going under the radar. In this article I will touch on AI, but also consider resilience, the C-suite, sustainability, consolidation and data privacy.
Incremental gains in AI lead the way
While artificial intelligence (AI) has been a buzzword for years, 2024 is expected to see it driving tangible, albeit incremental, improvements in efficiency and productivity. Business leaders, often sceptical about the hype surrounding AI, will begin to witness its practical benefits.
However, it's important to note that we're still about a year away from seeing major leaps in business impacts due to AI innovations. This phase is critical for businesses to understand and adapt AI technologies in ways that create real value.
Non-negotiable resilience
The concept of resilience in technology is set to take centre stage. With increasing cyber threats and data breaches, governments worldwide are expected to mandate resilience measures. This means organisations will no longer view resilience as an optional add-on feature but as a fundamental component of their technology strategy.
Ensuring systems are robust and can withstand various forms of cyber-attacks will become a primary concern for organisations across the globe.
C-Suite shifts towards cyber security
In 2024, the roles of CISOs (Chief Information Security Officers), CTOs (Chief Technology Officers), and CIOs (Chief Information Officers) are predicted to become more critical in the C-suite. These roles will gain prominence as technology becomes increasingly central to business operations.
Moreover, CFOs (Chief Financial Officers) and COOs (Chief Operating Officers) are expected to evolve into cyber security champions, reflecting the growing importance of cybersecurity in every aspect of business operations.
From sustainability targets to business norms
Sustainability is set to undergo a significant transformation in 2024. Organisations are expected to move away from isolated sustainability targets and instead embed Environmental, Social, and Governance (ESG) principles into their core business strategies.
This shift indicates that sustainability is not just a corporate social responsibility initiative but a fundamental aspect of business operations. You can read how tech is helping green buildings here; How tech helps 'smart buildings' get green & healthy certification.
Simplifying the complex
The tech industry will likely see a trend towards platform consolidation, driven by operational complexities and rising costs. Businesses will seek solutions that offer simplicity, visibility, and shared context.
This consolidation aims to reduce the complexity of managing multiple platforms and tools, thereby improving efficiency and reducing costs.
Regulations keep pace with AI and data privacy
With the rapid advancement of AI, data privacy regulation is expected to accelerate in 2024. Governments and regulatory bodies will likely introduce new frameworks and guidelines to ensure that the burgeoning use of AI does not compromise user privacy and data security.
This will create a more structured environment for AI deployment, balancing innovation with ethical considerations.
Summary
2024 is shaping up to be a transformative year in technology. As AI continues to make incremental gains, I believe resilience, cybersecurity, sustainability, consolidation, and regulation are set to become more prominent themes.
These changes will not only redefine the tech landscape but also shape how organisations operate and interact with technology on a daily basis.
