The future is here: 5 trends in business & tech for 2024
The future is here: 5 trends in business & tech for 2024

The future is here: 5 trends in business & tech for 2024

2024 promises to be a year marked by innovation, adaptability, and the seamless fusion of cutting-edge advancements. As organizations strive to stay ahead in this dynamic environment, keeping a close eye on the current major trends remains essential.

From the intricacies of generative AI and the hurdles it presents, to the imperative transformation of companies into data-driven entities, and the subtle shift from DevOps to the dawn of DevEx, our exploration will delve into the heartbeat of these trends.

Moreover, as technology continues to intertwine with every aspect of our lives, building and maintaining customer trust emerges as a linchpin for success. Join us on this insightful journey as we skim through these market trends, deciphering the keys to unlocking unprecedented potential in 2024 and beyond.

1. The synergy between Generative AI & workforces’ skills

Generative AI is on everyone’s lips these days, but 2024 speaks of the need to integrate it into the companies’ strategy. Why? Forrester’s annual report says it all: “enterprise AI initiatives will boost productivity and creative problem solving by 50%.”

The advent of genAI not only empowers organizations to intelligently automate both customer experiences and internal operations, but also places this transformative capability within reach of virtually every entity.

As we hurtle into 2024, the narrative of workplace transformation takes center stage. With the increasing automation of technical tasks, organizations find themselves at a critical juncture where the value of distinctly human attributes becomes paramount.

Skills such as emotional intelligence, communication prowess, interpersonal problem-solving, high-level strategy, and thought leadership will emerge as the backbone for success. To make the most of genAI, organizations need prepared and talented people, who can juggle with new information and data, and extract the main benefits of using AI in their every day of work. Thus, training and constantly investing into improving employees skills, either technical or soft, is a must.

As organizations reshape their workforce dynamics, the call to embrace the fusion of human ingenuity and technological prowess rings louder than ever.

2. Data driven or obsolete

Companies are no longer merely collecting data; they are strategically leveraging it to streamline operations and enhance customer offerings. As this trend gains momentum, businesses are poised to elevate their strategies, transitioning from operational optimization to the monetization of data itself.

We are living in times of heightened competition, and companies are recognizing the imperative to not only collect data but also to interpret and utilize it effectively. The democratization of access to large-scale data collection and AI-driven analytics is catalyzing this evolution, enabling even smaller enterprises in niche and diversified sectors to harness the power of data for creating personalized products and services, which translate into innovation and business growth.

In 2024 and beyond, the ability to navigate the data landscape and extract actionable insights will be key for companies aspiring to thrive in an over-competitive world, not just survive.

3. DevOps’ next station: DevEx

As emerging technology becomes a crucial business differentiator, the importance of tech talent is on the rise. However, inefficiencies persist in the ways developers operate, with only 30 to 40 percent of their time typically dedicated to feature development.

In the 2024 Tech Trends report, Deloitte reports that “the worldwide developer population is projected to reach nearly 29 million worldwide in 2024, outpacing the entire population of Australia-yet barely keeping up with the pace of demand, as discussed in Tech Trends 2023”.

Thus, a new focus is emerging, centered on developer experience (DevEx), which prioritizes a developer-first mindset to enhance software engineers’ daily productivity and satisfaction. This approach aims to optimize every touchpoint between developers and the organization, paving the way for a future where integrated, intuitive tools empower citizen developers across the business to drive tech value.

4. The crucial role of marketing in fostering customers’ trust

Although the positives of AI are undeniable, one can’t overlook that we live in an era dominated by AI-generated misinformation, data privacy issues or questionable human influencers, all of which are eroding the credibility of organizations and brands.

Forrester’s highlights a global decline in social media trust, with a staggering 81% of online adults in the US, the UK, Spain, and Italy acknowledging the prevalence of fake news and misinformation. Even in metro China, 63% of online adults share this sentiment.

This credibility crisis demands a resurgence of trust in traditional media outlets, signaling a crucial turning point for social media and tech companies. To counteract the growing blur between reality and deception, organizations must prioritize source credibility and data integrity. In this climate, a strategic emphasis on marketing through tier-one media becomes imperative, establishing brands as dependable sources for journalists, buyers, investors, clients, customers, and other critical audiences.

Brand safety concerns should further prompt organizations to distance themselves from media outlets unable to stem the tide of fake news.

5. Resilience is the name of the game.

Forbes draws the alarm that no matter how many trends companies will try to follow, securing their organizations against potential threats on the horizon involves safeguarding it from a spectrum of risks, including but not limited to cyber-attacks, economic downturns, environmental events, warfare, global pandemics, or the rise of disruptive new competitors.

In the end, resilience is crucial in withstanding and adapting to various challenges and uncertainties. A resilient company not only survives challenges, but also evolves and thrives by effectively managing and responding to unexpected events. Ultimately, resilience ensures a company’s durability and adaptability in the face of a dynamic and unpredictable business environment.

The symbiotic relationship between the above-mentioned trends not only propels businesses towards innovation, but also underscores the paramount importance of adaptability and customer trust. In this era, success hinges on the seamless fusion of cutting-edge technologies, strategic data utilization, and a relentless commitment to understanding and meeting the evolving needs of customers. Welcome to 2024!