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Technological Trends Impacting Industries in 2024
Technological Trends Impacting Industries in 2024

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The end of the year 2023 does not mark an end of digital transformation. The upcoming year 2024 will pave the way for more exciting and innovative technology trends reshaping business strategies. Enterprises and customers continue to steer innovations in machine intelligence, virtual capabilities, IoT applications, smart manufacturing, and more. ChatGPT and other Generative AI (Gen AI) tools have intervened in every service and industry from content to visuals, and music and coding!

The realm of technology is constantly changing with advances and enormous potential to initiate intelligent solutions for the future. Let us explore the emerging trends and understand their impact on the IT sector and our daily lives!

Generative Artificial Intelligence (Gen AI/GAI)

Gen AI has been the catchword for 2023 and will endure its unifying spark in our lives. The year 2024 will witness the true potential of GenAI adapting itself to various industry domains. GenAI will have a great impact in the Business-to-Business (B2B) model, embracing itself into every phase of IT-related services, from search engines to telecommunications and even into design software.  Irrespective of the services an organization provides, GenAI is capable of realizing profitable ROIs for the organizations.

Networking Trends

The Software Defined Networks (SDN) are enhancing the network control and management capabilities to ensure better network flexibility and inclusive management. The migration of management functions to the cloud brings in high reliability, flexibility, agility, and resilience. This facilitates programmable automation in the architectural layers, unlike the conventional architecture, simplifying the management process.  

 

 

Cloud and Edge Computing

The era of cloud and edge computing enabled by GenAI will be a technological leap in 2024!

The key advancements to cloud computing techniques supported by GenAI models will be realizing the vast computational requirements of the future. Enterprises can exploit the advantages of cloud computing industry platforms, including security, cost-efficiency, scalability, and flexibility. Edge computing brings in the capabilities of fast responsiveness for real-time decision-making processes, reducing the overall end-to-end latency. The effective collaboration of cloud and edge computing with GenAI underpins a seamless workflow for industrial operations.   

Quantum Computing

Quantum computing is an emerging technology that will take a head-on in 2024. In contrast to standard computers, quantum computing processes huge amounts of data rapidly utilizing quantum mechanics. The computational capabilities and speed are exponentially high which helps to solve complex problems of several practical applications in industries such as medical and fintech. In the coming years, quantum computing will be one of the biggest trends.

Cybersecurity

Data privacy and security have become the need of the hour for any enterprise. The technological advancements also pave the way for many security threats. For example, the spread of massive IoT devices increases the vulnerabilities to cyber-attacks. It becomes a challenge for enterprises to retain cybersecurity in a continuously changing threat landscape. To persist with the dynamic security risks, it is significant for organizations to follow a proactive approach. A holistic approach must be practiced to secure devices/users, hardware, software, network, and data.

 

Intelligent Automation

Intelligent Automation is the integration of AI/ML technologies together with Robotic Process Automation (RPA), embracing efficiency and digital transformation. The augmentation of these technologies facilitates business process automation, thereby reducing operational costs. The emerging GenAI technology will be capable of dealing with complex and dynamic tasks, increasing efficiency, resiliency, and good quality services. The expertise of intelligent automation realizes seamless business workflows and operations by incorporating technology, work processes, and people.

Database management

With the technological advancements, a massive amount of data has been generated which is expected to rise from 64 zettabytes as seen in 2020 to 180 zettabytes in 2025! The rapid increase in the volume of data leads to compliance risks and may also adversely affect the performance of applications. It is necessary to handle the data proactively and effectively.   This indicates the need for an efficient Database Management System. Database management monitors the application performance, security and privacy of data as well as executes storage optimization. This will help enterprises to enrich the data integration for better business intelligence. The advent of AI/ML technologies supports automated database management, reducing time and cost and enhancing quality and reliability in the future.

Sustainable Technology

The trend of sustainable technology is gaining traction because it is important to adopt socioeconomic growth together with technological advancements. These technologies aim to significantly reduce environmental damage and develop a sustainable product. To accomplish this, every business should be compliant with ecological and social standards. The execution of sustainable innovations helps enterprises to effectively exploit resources to enhance business profits as well as protect the environment. 

These emerging technology trends have a great impact on our lives and work. The AI boom in 2024 drive enterprises to achieve their business goals while generating value.

To know more details, visit Calsoft


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