From mainframes to minicomputers to cloud servers, technology is evolving at breakneck speed. Whatever technology is booming, it certainly brings simplicity, innovation, efficiency and agility into our lives, right? As a result, we are seeing the emergence of newer technologies that have a huge impact on business growth. Businesses that don’t keep up with the latest technology will struggle to stay ahead of the competition and meet their customers’ expectations.
Which technology trends are generating the most interest in 2024?
What are the “world-changing technologies” that every business leader should know and prepare for?
Read through the blog to find answers to these questions and discover the top tech trends gaining momentum in 2024.
Main new technology trends for 2024
#1 Robotic Process Automation:
RPA automates business processes such as repetitive tasks, standardized tasks, data processing, even responding to emails, etc.
Just like us, RPA bots have the ability to understand what’s on a screen, navigate through different systems, make the right keystrokes, extract data, and even perform a wide range of actions predefined.
This results in increased data collection opportunities, reduced workload, better business results, faster service, etc.
#2 Metaverse:
By revolutionizing the way we live and work, this emerging technology is ready to take you from the real world to the virtual world. A.
With the help of augmented reality and virtual reality, businesses can create a facsimile version of the real world where people can collaborate, conduct training and demonstrations, and close deals in real-time. This latest technology is gaining ground because of the real-world experience it brings.
Nike generated 3,100 Ethereum ($8 million) in revenue in just one week by selling its virtual sneakers.
Accenture has already built a metaverse habitat called Nth Floor, which replicates their real-world office, where employees can waltz into the office space and complete their tasks without needing to be physically present in the workspace. office.
Tech giants like Facebook (currently called Meta), Microsoft, Google, and Nvidia are already investing heavily in this new technology and experts predict that this technology will add up to $5 trillion in revenue to the industry. the global economy by 2030.
#3 Telehealth :
Although many of the greatest advances in the medical field are due to technology, there is even a little resistance today. The pandemic has shown us how crucial technology is to the medical field. Telehealth is the delivery of health-related services using technology to patients seeking care without having to leave their homes. Mobile health apps, live video conferencing, remote patient monitoring, etc. are examples of telehealth services.
#4 IA Low-Code et No-Code :
Artificial intelligence has moved from technical jargon to a user-friendly interface with low-code and no-code solutions. The ability to create solutions without the coding expertise or technical know-how has made it the top choice and success among business leaders. The Gartner report states that 50% of small and medium organizations will adopt low-code and no-code solutions by 2024. The above statistic is a testament to the fact that low-code and no-code are here to stay for a considerable period. of time.
Would you like to get in-depth information on low code and no code solutions? Book a free one-on-one call with service experts here.
#5 Internet of Behaviors (IOB):
IoB is about using data to change behavior. It gathers data from different sources and uses this information to influence user behavior using feedback loops. For example, a taxi service can monitor driver behavior, such as the speed at which they drive, aggressive turns, abrupt breaks, etc. Using this data, driver performance can be evaluated and appropriate measures can be taken.
#6 Distributed Cloud:
In this, cloud services are distributed across different physical locations, but the entire operations and governance is managed by the public cloud service provider. When organizations physically bring these services closer together, it facilitates low-latency scenarios, mitigates data costs, and also allows you to comply with local laws.
#7 Edge Computing :
It is one of the new technology trends 2024 that enables low latency and high-speed data processing. Edge Computing allows organizations to perform computations closer to data storage systems, improving application performance. The goal of edge computing is to run fewer processes in the cloud and turn them into an edge server or on the user’s computer. Since it increases the speed of the process, it allows you to manage time-sensitive data that is stored in remote areas and has minimal access to the central location.
#8 Human Augmentation:
Human augmentation is a broad term that concerns innovations aimed at improving human capabilities and productivity. AR lenses, RFID tags, prosthetics, etc. are examples of human augmentation. This can help improve human cognition and action capabilities. You can achieve this through sensing, actuation technology, AI, fusion and fission.
#9 Intelligent Composable Business: </span >
A smart composable business is one that can adapt and reorganize itself based on the current situation. Companies are investing in digital transformation because they want to make rapid business decisions that can be made with the data already available. To achieve this, businesses must have access to information, improve it by collecting more information and responding quickly. This will help businesses make decisions without having to always wait for a “Go for it” from the management team.
#10 Hyper automatisation :
With this new technological trend 2024, everything can be automated in an organization. Many organizations are using existing processes that are undermining them. These processes create many problems and are also extremely expensive just to maintain them. Advanced technologies such as artificial intelligence, machine learning, RPA, natural language processing, process mining, etc., are applied to maximize the potential of an automated business.
Conclusion :
Many organizations are guilty of using technologies with limited applications. They are generally not lean or optimized specifically for the business. You need to accelerate the use of technology in your organization to be agile and efficient. If you don’t invest in the latest technologies that are taking the world by storm, you risk being left behind by your competitors.
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Frequently Asked Questions (FAQ )
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How to stay on top of the main technology trends?
Organizations need to know “what’s new” in modern technology to transform their business models, launch innovative products/services, increase sales and improve customer experience. But with emerging technologies, it is difficult to keep up with new technological trends. By joining tech communities, subscribing to tech newsletters like TechCrunch, fully billed by Bloomberg, etc., attending tech conferences and seminars, you can easily keep an eye on the latest IT trends.
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What are other future technology trends to watch out for in 2024?
Natural Language Processing (NLP)
As Rachel Roumeliotis, Vice President of AI and Marketing; Data Content Strategy explains: “Natural language processing (NLP) is a wing of artificial intelligence that helps machines understand how humans talk, speak and write.
These systems capture user input and provide them with contextual output. Language translators, smart assistants, chatbots, email filters and optical character recognition (OCR) that we use daily are some examples of the NLP system.
With some user input, NLP technology can automate your repetitive tasks, offer contextual answers, analyze huge amounts of business data, help you gain insight and make data-driven decisions.
Blockchain technology
The growing popularity of blockchain technology can never be overlooked and hence we list it in our article here. The technology, mainly used for cryptocurrencies, has gained momentum in recent years due to its immutability, increased capacity and transparent system.
Banking and accounting firms primarily use this technology for its high-end security and to generate smart contracts, automate their record and record keeping tasks, and store customer information in a decentralized infrastructure.
From healthcare to payment companies to supply chain and logistics companies, almost every industry is transforming its digital journey with the help of this technology.
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How can businesses leverage these latest technology trends to drive growth and innovation?
No matter how informed you are about the latest technologies and trends, you need a foolproof plan to harness their potential and skyrocket your business performance. Here are three ways to take advantage of technology trends;
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- Creating the Game Plan: You need a foolproof strategy to understand what should be implemented and what should not be implemented to achieve your technical goals. Consider your IT infrastructures, budget and business challenges when developing the strategy.
- Finding the Right Tools: You may have some great ideas ready, but if you fail to adopt the right tool, your entire vision for driving business growth may fall through the cracks. Choose the right tool needed to achieve your technical goals.
- Find the right technical partners: You need a highly skilled workforce to implement, maintain and troubleshoot them as well. Whether it’s hiring a competent in-house team or outsourcing to industry experts, tapping the right talent can go a long way in exploiting new technology trends . to stay ahead of the competition.
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How does artificial intelligence (AI) impact various industries?
From production operations and machine maintenance to quality control and data processing, AI is already revolutionizing the way businesses operate.
AI capabilities are being used by different industries to drive progress. Discover some of the ways AI is driving growth and innovation across different industries.
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- AI in Finance – AI’s ability to analyze and process large amounts of data much faster than humans makes it the most powerful technology for trading and investing. It identifies customers’ buying and selling patterns and helps financial experts predict the future and make informed decisions.
- AI in Healthcare – From Robotic Assistance From surgical procedures to wearable devices that generate health issues like blood pressure, heart rate, etc., AI is reshaping the way the healthcare industry works today. AI in healthcare detects diseases faster and provides improved patient experience and safety.
- AI in Marketing – End users, today, prefer a personalized experience and AI has the power to offer them exactly that. AI tools are useful for tracking market trends, customer habits, and predicting future trends. Marketers can leverage this information to develop effective strategies and present the right type of content to improve sales and customer experience.
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What is blockchain and how is it changing industries like finance and supply chain?
Blockchain technology has gained momentum due to its decentralized infrastructure and its ability to carry out transactions without any intermediaries.
Although many industries are adopting this technology to improve the security and efficiency of their business operations, the supply chain and finance industries are fully unlocking its potential. It transforms traditional financial institutes by offering smooth, transparent and secure transactions for their customers.
In the supply chain, organizations can create unique transaction-based tokens for purchase orders, stock units, invoices, etc., which can be shared only with stakeholders. Every token transfer between stakeholders can be recorded and traced by organizations.