2024 Tech Trends Businesses Should Start Preparing For Now

In the final quarter of 2023, Members of the Forbes Technology Council examine the tech trends that have and will continue to dominate in 2024. They also explain how and why businesses should prepare for these changes now.
  1. Addressing Potential Power Grid Instability. “Businesses need to start preparing now to be more energy-efficient and self-reliant in 2024. Business continuity plans for 2024 should likely include considerations for power redundancy.” – Robert Martin, Oil City Iron Works, Inc.
  2. Reducing Technical Debt. “Businesses need to adopt newer tech that orchestrates business processes across systems and reduces technical debt by identifying ways to consolidate systems and applications.” – Paul Deur, ReadyWorks
  3. Incorporating AI And ML. “Investing in digital transformation is a technology trend that will still be relevant in 2024. Companies that leverage AI technologies have the potential to experience significant growth over the next few years.” – Igor Rikalo, o9 Solutions
  4. Readying Teams For AI Integration. “Businesses must focus on the human aspect of AI integration. Investments in skills development and reskilling, along with embracing flexibility and honesty, build trust. This approach secures business success by retaining and uplifting talent in a competitive, AI-driven era. – Greg Salvato, TouchPoint One
  5. Ensuring Ethical AI Usage. “As we look to 2024, it’s clear AI will keep revolutionizing how we approach technology and security. Businesses can prepare by educating developers to harness AI responsibly and ethically.” – Chris Wysopal, Veracode
  6. Focusing On Finance As A CIO. “One trend we’ll see in 2024 is CIOs acting more like CFOs. Tech—specifically, software optimization—will become an ongoing initiative.” – Ben Pippenger, Zylo
  7. Prioritizing Repeatability And Scalability. “At the beginning of 2024, a lot of firms will be taking a much closer look at their budgets. The modern firm will prioritize repeatability and scalability of data products over flash and one-off insights. Plan for lean times, and show that you can stay modern without breaking the bank.” – Lewis Wynne-Jones, ThinkData Works
  8. Accelerating Digital Transformation. “In 2024, I expect to see another acceleration in digital transformation. I foresee more innovations that will help organizations meet employee demands and streamline operations to recruit and retain workers amid labor shortages.” – Mike Morini, WorkForce Software
  9. Browsing And Shopping Via Voice Search. “In the coming years, we will see more people use voice search for browsing and shopping. Prepare for the continued emergence of voice-powered tech that allows a user to search with their voice instead of a keyword. I recommend adding schema markup to your site, including frequently asked questions in your blog posts and writing conversationally so your site is more likely to get selected as an answer.” – Thomas Griffin, OptinMonster
  10. Blending Customer-Centric Marketing And Privacy. “In 2024, two pivotal trends will intersect: AI-powered, customer-centric marketing and a privacy-first world. A groundbreaking solution will emerge through an innovative “faceless” paradigm in data-driven marketing.” – Kseniia Maiboroda, Elevatix
  11. Adopting DeFi. “With blockchain’s evolution and growing user adoption, DeFi is set to redefine banking, lending and insurance. It’s vital for forward-thinking businesses to grasp DeFi’s intricacies and potential now to stay ahead in 2024’s transformative financial landscape.” – Imane Adel, Paymob
  12. Embedding Financial Workflows In Products. “In 2024, businesses must begin to embed financial workflows natively into their core product offerings. In the vast majority of B2B and B2C businesses, including banks, financial workflows form an absolutely integral part of the system—no business really is a business if it cannot collect, move and disburse money while retaining customers. With regulations catching up, drag-and-drop financial infrastructure is key.” – Prashanth Balasubramanian, Striga
  13. Integrating Brain-Computer Interfaces. “The integration of neurotechnology into various applications via brain-computer interfaces is advancing rapidly, opening doors to new possibilities in healthcare, entertainment and beyond. Companies should begin exploring how BCIs can enhance user experiences, create innovative products and, potentially, revolutionize industries by leveraging brain-wave data for improved insights and interaction.” – Jagadish Gokavarapu, Wissen Infotech
  14. Harnessing Data For Generative AI. “The biggest challenge businesses are facing when it comes to implementing a holistic approach to generative AI is data. While many businesses have piloted generative AI tools, few have begun the data governance and data migration work that will be necessary to achieve their long-term generative AI goals.” – Vivek Jetley, EXL
  15. Achieving Governance And Security Of AI And LLMs. “The governance and security of AI and large language models will be a hot business topic. For example, if an LLM is used to build an HR bot to answer employee questions, there will need to be filters and security that can prevent certain staff members from accessing information a human HR rep would never give them. How can we ensure the bot knows that interns should not be able to ask how much the CEO saves in their 401(k)? This is where we will see innovation in 2024. – James Beecham, ALTR
  16. Protecting Data Access And Privileges. “As we finish up 2023, increasing cybersecurity threats will result in even more action on the smallest level. Businesses must focus on identity management and find new ways to ensure that access to, and the privileges connected with, their proprietary data are proactively protected.” – Jim Barkdoll, Axiomatics
  17. Tapping Into The Power Of 5G. “The expansion of 5G networks will pave the way for the development of a multitude of new technologies and services and the evolution of current ones. Businesses should look into the myriad opportunities in the development of Internet of Things devices, digital twins, and smart cities and communication technologies.” – AJ Abdallat, Beyond Limits
  18. Merging Physical, Generative And Virtual Realities. “In the fourth quarter of 2023, businesses should gear up for the transformative trend of generative AI and metaverse integration. Companies must begin laying foundations for immersive digital environments that merge physical, generative and virtual realities.” – Ranghan Venkatraman, Rezilyens LLC
  19. Leveraging Quantum Computing. “Businesses should get ready for the quantum computing trend of 2024, which has the potential to change industries by resolving challenging issues more quickly. Early research into quantum algorithms and collaborations can give a competitive edge and result in breakthroughs and improvements across a variety of fields.” – Neelima Mangal, Spectrum North
  20. Preparing For Emotional AI. “In the closing months of 2023, businesses should start preparing for the rise of emotional AI in customer interactions. EAI will soon move beyond text and voice recognition to discerning customers’ emotions through subtle cues. Preparing for this means understanding how to ethically implement it—that is, making sure emotional engagement enhances the user experience without causing privacy concerns.” – Marc Rutzen, HelloData.ai


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