As the year 2023 is nearing its end, predictions for what the year 2024 will bring to the now-connected Digital world is buzzing across the globe. The future trends predicted will pave the way for the excitement and anticipation of what will happen, and how they will impact business strategies in the coming years.
Much has already been written about the trends in 2024, not to mention the booming generative AI tools and the disruption caused by them. ChatGPT and other generative AI tools have disrupted every service and industry from content to visualization, to graphics and music and coding!
What does all this mean to the companies trying to evolve? Will companies large or small be able to keep up with the fast-moving trends? Let us walk through these emerging trends and learn how they will impact every corner of the IT industry and our lives too!
Generative Artificial Intelligence (Gen AI/GAI)
Yes Gen AI has been the buzzword for the past year and will continue its integrative streak in our lives.
It has been both, feared and revered, and 2023 was its defining and disruptive year!
Gen AI in the year 2024 will see it reaching its potential assimilating itself into every aspect of IT-related devices and networks, from search engines to communications and even into design software. Gen AI is predicted to make its greatest impact in the B2B landscape, and it’s already altering it in many ways.
The giants, like Amazon have struck gold, and for that Midas touch every industry from automotive to healthcare, from rail networks to aviation, or even our simple communication tools and design studios, will need to find out what suits them and how to assimilate it in their forthcoming budgets.
Gen AI is here to stay, disrupt, create, and provide your company, no matter what service you provide, that stepping stone into the future with profitable ROIs!
Networking Trends
Simplicity will be the key for 2024. Soon controllers will be passé as high-performance microprocessors and a foundation of distributed systems will take over. Software Networks (SDN), which has played a role in networking for a decade now, is gathering strength, with a key to improving network control and increasing response time to changing business requirements.
With most management functions now starting to reside in the cloud, flexibility, resilience, and reliability will be the essentials to bringing simplicity in the layers of architecture with programmable automation, thus moving away from traditional architecture.
Cloud and Edge Computing
Be prepared for technological reshaping with the interplay of cloud and edge computing with Gen AI!
Cloud computing will be reaching new heights to sync with the vast computational needs that will be underlying the Gen AI models.
Industry cloud platforms can enable businesses to leverage the benefits of cloud computing, such as scalability, flexibility, and cost-efficiency, while also addressing the regulatory, security, and operational requirements of their industry
To match instant responsiveness and reduce latency, edge computing will be the key essential for real-time operations. At Calsoft our edge-to-cloud solutions seamlessly integrate IoT ecosystems, ensuring efficient data flow and real-time insights.
This synergy between Cloud and edge with Gen AI will bring in seamless process workflows in real-time benefitting industrial automation and autonomous vehicle devices.
Centralization and democratization of data will provide for easy access, improved governance, and ensuring security which will be the major focus in 2024.
Quantum Computing
The quantum leap is already in and the year 2024 will further define quantum computing bringing efficiency and creativity with the emerging quantum machines.
These machines will benefit the medical and financial industry the most. Especially the ones that work with massive datasets that require real-time processing.
Software evolution will be required to work with this and evolve to harness the huge datasets for real-time processing. So work will be cut out for the programmers who need to up their game in the coming years.
Cybersecurity
As we peer into 2024, the realm of cybersecurity is poised for several defining shifts.
Cybersecurity is being discussed as the number one priority that all companies, be it banking or even IT and specifically data-based companies, will need to work towards safeguarding their data.
The generative AI-based attacks have increased with each passing day including the emergence of quantum computing attacks, which target the easy lapses and vulnerabilities in many of the IOT devices connected to the internet. Smart home appliances, health and financial equipment, and database management systems are all under threat and need better cybersecurity measures to keep the data secure.
Staying ahead of the curve in the complicated and dynamic realm of cybersecurity needs ongoing awareness and creativity.
Businesses can make sure that their data is safe, affordable, and easily available by properly managing their data storage practices given the trend towards cloud repatriation which involves moving data and applications back from public cloud environments to on-premises infrastructure. This will help them make wise decisions and spur company expansion.
Organizations must implement scalable and financially viable storage solutions as data continues to rise dramatically.
Intelligent Automation
The use of Artificial intelligence (AI) and robotic process automation (RPA) which is employed to automate and optimize business processes is collectively known as intelligent automation.
Many businesses are predicted to adopt and integrate IntellIigent Automation (IA) in 2024 to optimize their processes. According to Gartner, by 2024 organizations will combine hyper-automation technologies that include tools to automate the digitalization and structuring of data and content, with redesigned operational processes, thereby reducing operational costs by 30%.
IA will also include, Generative artificial intelligence (GAI) that will help businesses create engaging and personalized content for their customers, as well as automate and simplify tasks that require human creativity. G2 predicts that in 2024, businesses of all sizes will use GAI, but enterprise adoption will lag in other segments like manufacturing or supply chain.
By combining AI and RPA (which perform repetitive and rule-based tasks, etc.), intelligent automation is and will soon handle more complex and dynamic tasks, such as analyzing unstructured data, generating insights, and adapting to changing situations. Intelligent automation can provide many benefits for businesses, such as reducing costs, improving efficiency, enhancing quality, and increasing customer satisfaction.
The excitement is brewing about how this will shape the future of intelligent automation!
Database management:
The total volume of data generated has been steadily increasing since the last decade. And this is expected to rise from 64 zettabytes as seen in 2020 to 180 zettabytes in 2025! There has never been a more pressing requirement for database management systems to handle and evaluate data instantly.
Today, Cloud databases, are maintained by cloud service providers like Microsoft Azure, Google Cloud Platform, and Amazon Web Services (AWS). By 2024, over half of all enterprise data will be kept in the cloud, according to Gartner’s prediction. Hybrid databases, which combine relational and non-relational databases to store and process data in a variety of formats provide for high performance, flexibility, and scalability and could be what enterprises will head towards in the coming years.
With the development of AI and ML, automated database administration can assist in lowering mistake rates and create a wonderful sustainable technology by saving time and money while enhancing data quality and reliability in the future.
Sustainable Technology
This trend focuses on how technology can help reduce the environmental impact of human activities, such as energy consumption, waste generation, and greenhouse gas emissions. Some of the technologies that enable sustainability are renewable energy sources, smart grids, green data centers, circular economy models, and carbon capture storage.
Incorporating Gen AI to create new content, products, and services, which has already spawned hundreds of AI tools that create images, videos, music, code, designs, and even websites, empowers users to express creativity, inspire innovation, and simultaneously reduce the cost and time of production.
An increase in data also leads to increased data storage. Sustainable data storage is the need of the hour. Moreover, ignorance of bad or poor-quality data being stored can cost a company’s decision-making process. Way back in 2016, IBM found that poor data quality strips $3.1 trillion from the U.S. economy annually! And if we think of the increase in volume of data today and in the coming years, this is going to double! Enterprises will have to learn how to sieve the wheat from the chaff!
Further, AI-based cloud platforms tailoring to the specific needs and requirements of different industries will enable industry-specific innovation, collaboration, and efficiency.
We can conclude that with Gen AI holding sway over our lives, we have the choice to plunge in and make the best of what Gen AI has to offer, by letting AI handle the repetitive and mundane tasks and giving us humans the time to dwell on the creative aspect of what we offer.
The impact these disruptive yet exciting trends will have on enterprises, Large or SMEs, will be discussed in our forthcoming article. Keep tuned to know what’s brewing in the year 2024!
