With invention and inventiveness ushering in a new digital age, technology has grown more palpable and prominent in our lives over the past few years. 2023 was a terrific year for technology trends because, in addition to creating a few new tools, we also figured out how to improve and mature the ones that already existed. Businesses are using the technology trends as an enterprise tool to cooperate and share ideas, even though the excitement surrounding the Metaverse has subsided. As we get ready for the future, cutting-edge engineering and knowledge are being applied elsewhere to fields like cloud computing, climate tech, Web3, and more. With the release of GPT-4 and improvements in enterprise use cases employing large-language models (LLMs), generative AI has had a breakthrough year.
From developments in the semiconductor business to strides in the electric car market, the IT sector is rife with opportunity and promise. We expect more advancements in the following areas in the upcoming year as technology trends continues to change and as particular trends pick up steam and are used in more contexts. Tech workers who want to advance in their careers should keep a close eye on them and, if needed, sharpen their skills.
Technology trends
Data science: Despite a recent decline in employment, data science has remained in demand. The BFSI sector in India saw an increase in analytics and data science positions in 2023 as a result of the adoption of new technologies such as machine learning (ML) and artificial intelligence (AI). In contrast, the IT sector saw a decline in similar employment as a result of volatility in the global economy. Additionally, due to the varied nature of their clients’ needs and their line of work, domain specialists are now expected to possess a wider range of skills. In 2024, there will probably be a rebound in the economy and a need for work. Python will continue to be essential to the field because of its ability to incorporate different technologies into its libraries and syntax. PyTorch, which is now used by many organizations for neural network development and training, may pose a challenge to TensorFlow’s status as a foundational platform for many underlying algorithms including deep neural networks. Lastly, keep an eye out for advancements in natural language processing (NLP) that do not use English. Mandarin and other international business languages may soon gain greater renown.
Artificial intelligence and machine learning: In terms of investment and adoption, applied AI continues to lead the AI revolution. However, 2023’s highlights included ML operations (MLOps), which facilitated the quicker creation and deployment of ML applications through a variety of interoperable tools. Businesses have begun to industrialize machine learning (ML) in order to boost productivity, realize financial gains, and even maximize energy savings in their facilities. More organizations will have adopted MLOps solutions by 2024 in order to expand operations and boost efficiency. It goes without saying that MLOps abilities will be highly prized, and professionals would be well to begin updating their knowledge. Prompt engineering will be essential to knowing how to ask the correct questions as the generative AI trends are set to take off. Expect to see a significant increase in automation in the model-building process thanks to technologies like AutoML. This trend has become commonplace, particularly in cloud-based development environments, and it will help companies that need to complete tasks more quickly.
Cloud computing: The digital transformation of organizations is largely dependent on the cloud. However, because to worries about privacy and expense, private migration has slowed recently. Even if businesses are using the public cloud for less essential purposes due to cost savings, these concerns may be reduced with a multi-cloud approach. Better news: providers have been concentrating on how to integrate AIML needs with cloud ecosystems as efficiently as possible. This indicates that there is a lot of activity and innovative ideas at the nexus between these two sectors. The most significant development for professionals will likely be the way cloud computing handles scalability in 2024, as more devices join the Internet of Things and larger LLMs. (Technologies like Amazon Elastic Container Service (ECS) will be helpful in handling data demands that change quickly.) If you’re wanting to get into the space, additional important themes to keep an eye out for are edge computing, sustainable cloud computing operations, and more robust discussions surrounding cloud privacy and security.
Cybersecurity: Organizations must prioritize cybersecurity as a business imperative as data continues to grow on the internet and in technologies such as the cloud. Cyberattacks have been concerningly increasing. These attacks increased by over 40% in 2022 compared to the year before. By 2024, a number of technology trends advancements will have an impact on this figure: For example, artificial intelligence (AI) will prove to be a double-edged sword that may be utilized to both launch complex and cunning attacks and assist in neutralizing threats. As long as writers continue to use contemporary programming languages, malware will continue to be less expensive to create and become more cunning. Additional trends that are expected to occur include the possibility of more hacktivism, continued use of zero-day vulnerabilities, and cybercrimes related to politics. In addition to the opportunities presented by addressing these issues, experts in the field can delve into multi-factor authentication (MFA) systems and acquire the skills necessary to create and manage them in an increasingly password-less environment. Determining the security of Internet of things (IoT) devices will also be of relevance.
Electric vehicles: In 2022, the worldwide electric vehicle (EV) market broke the record for sales of 10 million units. In spite of various setbacks and outside obstacles, the increase from one million electric vehicle sales in 2017 has been phenomenal. EVs are the next unavoidable option, with tighter emission regulations planned for the future and low- or zero-CO2 emission plans emerging in several regions of the world. With the introduction of several new two- and three-wheeler models and increased public awareness, EV sales in India are starting to pick up steam and may surpass 10 million units by 2030. The government is encouraging the use of electric vehicles (EVs) through a number of programs and initiatives to boost regional industry and draw in capital. The industry is set up for a great 2024 with plenty of professional prospects as we gradually shift. More electric car models can be created as production capacity increases and supply chains stabilize. In the months to come, battery technology trends may also advance, potentially providing more practical charging options. When used, vehicle-to-grid (V2G) technology trends will significantly advance and create new opportunities for advancements in the industry.
Software development: In order to flourish and innovate in the face of competitive market conditions and varying demand for software engineers, developers and leaders have had to pay close attention to a few trends, especially those involving AI. Teams are working more quickly and efficiently thanks to AI-driven apps and AI-augmented software engineering. In addition to fostering a greater interest in low-code and no-code development, the use of InnerSource is paving the way for software teams to operate more quickly. These trends will continue in 2024 as organizations continue to move toward digital transformation in a more deliberate and modern manner. Professionals will require full-stack development as a minimal competency because it will remain in demand. Second, when 5G coverage grows, programmers will create new apps to take full advantage of the technology trends potent advantages.
With prospects for a worldwide economic recovery looming, enterprises will be able to place bets on specialized areas and make large investments in new instruments and time-saving procedures. 2024 may pick up where 2023 left off. We are entering an era of increasingly specialized work as generative AI steadily expands and produces more significant commercial influence and financial gain. Anticipate concepts that prioritize efficiency above laborious tasks in the upcoming year.
