Top 10 new technology trends for 2024 and future

From mainframes to minicomputers to cloud servers, technology is evolving at a breakneck speed. No matter what technology is booming it certainly is bringing simplicity, innovation, efficiency, and agility into our lives, isn’t it? As a result, we are observing the emergence of the newest technology that has a weighty impact on business growth. Businesses that are not keeping up with the latest technology will find it hard to stay ahead of the competition and meet the expectations of their customers.

What tech trends are gathering the most traction in 2024?

What are the “world-changing technologies” that every business leader should know and be prepared for?

Read on the blog to find answers to these questions and to discover the top technology trends that are gathering steam in 2024.

Top 10 new technology trends for 2024

Robotic Process Automation
Metaverse
Telehealth
Low-Code and No-Code AI
Internet of Behaviors (IOB)
Distributed cloud
Edge Computing
Human Augmentation
Intelligent composable business
Hyper Automation

#1 Robotic Process Automation:

RPA automates business processes such as repetitive tasks, standardized jobs, dealing with data, even responding to emails, and so on. Just like us, the RPA robots have the ability to understand what’s there on a screen, navigate the various systems, complete the right keystrokes, extract data, and even perform a wide array of predefined actions. It results in increased scope for data collection, reduced workload, better business results, faster service, and so on.

#2 Metaverse:

Revolutionizing the way we live and work, this emerging technology is all set to take you from the real world into the virtual one. With the help of Augmented Reality and Virtual Reality, companies can create a facsimile version of the real world where people can collaborate, conduct training and demos, and close deals in real time. This latest technology is gaining traction because of the real-world experience it’s bringing in.

Nike generated 3100 Ethereum of revenue ($8million dollars) in just a week by selling its virtual sneakers.

Accenture has already built a metaverse habitat called Nth Floor, which replicates their real-world office, where the employees can waltz into the office space and carry out their tasks without requiring to be present physically in the office.

Tech giants like Facebook (currently named as Meta), Microsoft, Google, and Nvidia are already investing heavily in this newest technology and experts predict that this technology will add up to $5 trillion revenue to the global economy by 2030.

#3 Telehealth:

While most of the biggest advancements in the medical field came because of technology, there is a bit of resistance even now. The pandemic has shown us how pivotal technology is for the medical field. Telehealth is the distribution of health-related services with the help of technology to patients who are seeking care without having to get out of their homes. Mobile health apps, live video conferencing, remote patient monitoring, etc., are examples of telehealth services.

#4 Low code & No code AI:

Artificial Intelligence has shifted its gears from technical lingo to user-friendly interface with low-code and no-code solutions. The ability to build solutions without the expertise of coding or technical know-how has made it the top pick and successful among the business leaders. Gartner report states that 50% of mid and small-level organizations will embrace low-code and no-code solutions by 2024. The above statistic is testament to the fact that low-code and no-code is here to stay for a considerable period of time.

#5 Internet of Behaviors (IOB):

IoB is all about using data to change behaviors. It gathers data from different sources and uses this piece of information to influence user behavior with the help of feedback loops. For example, a taxi service can monitor driver’s behavior, such as the speed at which they drive, aggressive turns, sudden breaks, etc. Using this data, the performance of the driver can be assessed, and adequate steps can be taken.

#6 Distributed cloud:

In this, cloud services are distributed to various physical locations, but the entire operations and governance is handled by the public cloud service provider. When organizations have these services physically closer, it helps with low-latency scenarios, mitigates data costs, and it also allows you to be accommodating of the local laws.

#7 Edge Computing:

It is one of the new technology trends 2024 which allows for low latency and high-speed data processing. Edge Computing allows organizations to carry out computations closer to data storage systems thereby improving the performance of the application. The objective of edge computing is to run fewer processes in the cloud and transform them to an edge server or the user’s computer. Since it increases the process speed, it lets you handle 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 which is all about innovations which seek to improve human abilities and productivity. AR lenses, RFID tags, prosthetics, etc., are examples of human augmentation. It can help in the enhancement of human cognition and action abilities. You can accomplish it by sensing, actuation technology, AI, fusion and fission.

#9 Intelligent composable business:

An intelligent composable business is one which can adapt and rearrange itself based on the current situation. Businesses are investing in digital transformation because they want to make quick business decisions that can be made with the data that is already available. To achieve this, businesses should have access to information, enhance it by gathering more insights and responding quickly. This will help businesses to make decisions without having to always wait for a “Go ahead” from the leadership team.

#10 Hyper Automation:

With this new technology trend 2024, anything can be automated in an organization. There are a lot of organizations which use legacy processes that are pulling them down. These processes create a lot of issues and are also immensely expensive just to maintain them. Advanced technologies such as Artificial Intelligence, Machine Learning, RPA, Natural Language Processing, Process Mining, etc., are applied to leverage the maximum potential for an automated enterprise.

#10 Hyper Automation:

Many organizations are guilty of using technologies that have limited applications. They are usually not lean or optimized specifically for the business. You need to accelerate the use of technologies 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 might be left behind by your competitors.

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