Timothy Owens
Senior research Lead covering technology and telecoms
Tech trends 2024 - statistics & facts
If 2023 was the year of AI hype, 2024 is the year of widespread AI adoption that is set to significantly transform multiple aspects of society. In response to signs of improving economic conditions after a tough 2023, businesses in 2024 will increasingly implement new digital technologies to adapt and transform existing products and services. Overall worldwide IT spending is forecast to increase by eight percent between 2023 and 2024, reaching approximately five trillion U.S. dollars, as organizations invest in emerging technologies to drive business and digital transformation. Key themes in 2024 revolve around widespread generative AI adoption across industries and the accompanying services to meet this demand.
AI integration everywhere
The AI market will continue to grow significantly through 2024, catapulted further with the ongoing growth in demand and interest in generative AI. Indeed, AI technology and its development is likely to be the most important aspect of technological changes in enterprises worldwide. These changes are by and large positive, improving business processes or raising revenues through greater efficiency. AI startups will fetch a serious premium in funding rounds, with many already being eyed by major tech companies of the likes of Apple, Google, and Microsoft.The rise of managed service providers
The widespread adoption of AI across industries is being facilitated by cloud computing, particularly through Infrastructure as a Service, Platform as a Service, and Software as a Service models. Managed service providers (MSPs) are well-positioned to offer various AI-related services, including for deployment, management, training, development, and support to overcome the challenges of AI development. The demand for managed AI services is growing, and MSPs are likely to emerge as preferred partners for businesses looking to leverage the transformative power of AI.AI chips: Powering the revolution
AI technologies require specialized AI chips that are more powerful, more efficient, and optimized for advanced machine learning algorithms. As a pioneer and leader in AI, Nvidia chips are being used to train and run various large language models. ChatGPT was trained using thousands of Nvidia graphics processing units, linked together in an advanced AI supercomputing data center belonging to Microsoft. As well as traditional semiconductor companies, larger tech firms like Microsoft, Amazon, and Google are also looking to innovate in the AI chips space.AI in cybersecurity
It is now agreed that AI will significantly impact almost every industry in the coming years, including cybersecurity. While the recent debate revolves mostly around the security concerns and challenges posed by AI, the technology also offers the cybersecurity sector with innovative ways to defend against hostile actors. CEOs and IT professionals alike expect AI to be increasingly used to bolster cybersecurity by offering greater speed, accuracy, and cost-effectiveness. Areas where AI is likely to enhance cybersecurity capabilities include real-time threat detection, automated response, predictive analysis, and automated risk and compliance.AI in programming and development
As AI makes its way into nearly every corner of our daily lives, transforming industries, enhancing productivity, and influencing the way we interact with technology, programmers and developers are also adopting AI tools in their tasks. Whether it is ChatGPT by OpenAI, Bard by Google, or GitHub Copilot, which is owned by Microsoft, machine learning engineers, data scientists, web designers, and full-stack developers around the world have no shortage of tools they can use. The uses of AI in the development workflow also varied, with writing, debugging, and documenting code being the most popular uses of AI tools.Edge data centers: Facilitating digital connections
Along with AI, industry forecasts predict an explosion in connected Internet of Things devices over the coming years. Both AI applications and these IoT devices, ranging from connected cars to industrial sensors, increasingly require constant, low-latency connections to data services, prompting tech firms to reassess their approach to data center infrastructure. Edge data centers will play a key role in facilitating these services in 2024. Unlike large hyperscale facilities, edge data centers are small and located close to end users, often in or close to urban areas, and as such can deliver significant bandwidth with minimal latency.Foldable and AI smartphones
Two decades ago, smartphones revolutionized the mobile industry with their touchscreens and computing capabilities, leading to manufacturers releasing newer device versions yearly. However, recent times have seen a somewhat stagnation of the smartphone market, making both companies and consumers eager for innovation. The new generation of smartphones are more practical and are packed with new generative AI capabilities, as seen in the new Samsung Galaxy AI mobile devices. Additionally, the return of foldables, which are estimated to count over 25 million unit shipments in 2024, are part of the next generation of smartphones, with more and more vendors joining the market.The year of ascendant AI
2024 is shaping up to be an exciting year for technological innovations, with businesses and consumers alike becoming more adventurous in experimenting with the new tools of the future as serious concerns about the global economic outlook begin to subside. While it’s difficult to predict exactly what is in store for AI, all signs are pointing to widespread adoption in the coming years. We’ll have to wait and see what surprises are in store for us all.
