Every day, new technologies are emerging, and older technologies are developing at an exponential rate to help make our lives better, simpler, and more advanced. Today, new technology is helping across all sectors from optimizing the customer experience within big and small businesses, to improved healthcare practices and manufacturing organisations. It’s a fast-moving world with many IT trends and new technologies developing each year. So, what are the latest emerging IT trends this year? Which technologies are gaining most momentum? Read on for 6 of the most essential trends in IT that you should be following in 2024.
Artificial Intelligence (AI) is going mainstream
But what is Artificial Intelligence?
Artificial intelligence - or AI for short - is technology that enables a computer to think or act in a more 'human' way. It does this by taking in information from its surroundings, and deciding its response based on what it learns or senses. AI is the dominant emerging IT trend as it is the backbone of innovation in modern computing and is unlocking value for businesses and individuals. AI is quite literally everywhere.
We’re already seeing this IT trend in the retail sector with businesses such as Stitch Fix using AI software to recommend specific clothing to its customers based on size and preference. Contactless shopping will also continue to be a huge IT trend in 2024 and AI will make it easier for consumers to pay for and receive goods and services. Streaming giants Netflix already use AI to recommend other titles to watch based on your previous watches. It can be seen in the transport sector with driverless cars as an example of AI in action and AI is regularly used in flight simulation in aviation. The NHS has recently announced it will invest £250million on AI in healthcare to improve patient care and research.
Gartner is predicting that the number one strategic IT trend in 2024 will be building trust in AI and developing the risk and security management of AI. As the influx of AI in all aspects of business, industry and mainstream society grows, so will the need for increased trust and risk management. The World Economic Forum (WEF) is also expected to identify this as an emerging IT trend for 2024 as it plans to discuss AI as the driving force for the economy and society.
Machine Learning for business
Another emerging IT trend is machine learning. According to IBM, machine learning is “a branch of artificial intelligence (AI) and computer science which focuses on the use of data and algorithms to imitate the way that humans learn, gradually improving its accuracy.”
This latest IT trend is having a terrific impact on businesses, showing huge potential for increasing efficiency in businesses across industries. There are many real-world examples of machine learning already being implemented. Financial institutions and banks can use machine learning to spot suspicious transactions in your account. The algorithms can be trained to learn what a fraudulent transaction is and learn to spot other atypical transactions that warrant further investigation. Speech recognition devices such as Siri and Alexa use machine learning to translate speech into text/written format. Mobile devices can then use the written format for voice search and improved accessibility for texting. Chatbots, another form of machine learning, are being used regularly within the customer service industry to answer FAQs and be the systems virtual assistant. As we move through 2023, we will see businesses prioritise machine learning within their systems so it can work effectively.
Blockchain
An up-and-coming trend in IT, Blockchain is in essence a shared immutable ledger that facilitates the process of recording transactions and tracking assets within a business network. Allowing virtually anything of value to be tracked and traded, reducing risk, and cutting costs for all. Blockchain provides safe, fast, and reliable information to its users.
Forbes predict Blockchain technology to advance significantly in 2024 as we look to decentralize data storage and encrypt instead using this emerging IT trend, resulting in your information being safer and able to be analysed in more innovative ways. Blockchains are best known for their crucial use in cryptocurrency systems, such as Bitcoin, for maintaining a secure, trustworthy record of transactions. With even more emphasis being placed on privacy and trust for both business and customers, advancements in Blockchain technology are a given and certainly one to look out for.
Edge Computing
This is a key emerging IT trend for businesses. Edge computing is essentially a distributed computing framework that allows devices to connect to the edge of the network either by the device or a local server. This then enables faster and more comprehensive data analysis, creating the opportunity for deeper insights, faster response times and improved customer experiences. It makes real time computing accessible in even the most remote locations such as oil rigs and agricultural environments and ensures the server doesn’t get overwhelmed by data, resulting in safer, more streamlined, and more efficient practices. According to sources at IBM this IT trend is only expected to continue to grow as 5G networks increase the number of connected mobiles.
Virtual Reality (VR)
Virtual reality (VR) is a computer-based system that uses software, screens on each eye, and interactive controls to allow a person to enter a virtual, digital world. By wearing a headset, sensory gloves, or bodysuits the software can send and receive information that then places you in the computer-generated world. It’s designed to make you feel completely immersed in that virtual world, giving the user a real feeling of presence. This really is one trend in IT to keep monitoring.
Although VR technology has been around for a while, it’s only now seeing a huge upward trend as it has finally become small enough, powerful enough and affordable enough to hit the mainstream. Its uses in education have helped this upward trajectory soar to new heights as it provides a more immersive way to learn. With a global value at $6.37 billion back in 2021, which should reach $32.94 billion in 2026, it's clear this is a fast-growing area that's going to mean big changes in education long term.
Augmented Reality (AR)
A similar technology that is also fast growing is Augmented Reality (AR). This technology is an interactive experience that involves projecting computer-generated images into real-world environments. Unlike VR where you are immersed in the digital world, AR takes and processes information to then place digital images into the real world.
A hugely popular phenomenon and a good example of this is Pokémon Go. A game that requires you to venture out into the real world to find and catch animated creatures. When you point your device at a specific spot, Pokémon appear on the screen, making it look as though they are standing right in front of you. This technology is filtering down into more mainstream environments as far as local parks creating their own “dinosaur walks” or “treasure hunts”. As the technology becomes more accessible, the popularity is growing and therefore its certainly an IT trend to watch.
These are just a few of the main IT trends to watch out for this year. To know more about other emerging trends in IT we recommend a read of the Flagship Report by the World Economic Forum (WEF). As with all technologies, the advancements are fast moving, and some are growing at exponential rates. Don’t get left behind. Get in touch now to see what IT services we can provide you and your business with today.