Dec 26th, 2023

Top Technologies for Business in 2024

Author - Seth Narayanan
Dec 26th, 2023

Top Technologies for Business in 2024

New technologies are emerging at breakneck speed, and as we move into 2024, your business should be not only ready for them but also ready to harness and deploy them. You should also be prepared to efficiently navigate the potential challenges and difficulties that come along with the incredible benefits these top technologies provide.

Generative AI, cloud computing, and remote work solutions already play essential roles in the way we work, and these top technologies will only continue to expand in the coming years. Let’s take a look at some of the ways these and other emerging trends will shape the way your organization functions in 2024 and beyond.

Generative AI
Generative AI

At this point, it is no longer a question of whether a business will incorporate generative AI into its technical solutions, it is a question of when. Businesses that don’t adopt this revolutionary tech are likely to fall behind quickly as the industry grows and expands.

These top technologies are predicted to reduce operational costs across all industries by up to 20% in the coming years, with significant advancements being made in the realms of healthcare, cybersecurity, information services, education, and consumer tech.

Cloud Computing
Cloud Computing

Around 80% of businesses report planning to expand their cloud service usage in 2024 and beyond, with multi-cloud solutions being adopted by about 70% of companies. As cloud computing solutions become more prevalent and affordable, organizations are taking advantage of the increased flexibility and resilience that these services provide.

In 2024, it’s estimated that around 75% of businesses will have implemented edge-computing solutions, and that serverless computing will reduce infrastructure costs by up to 30%.

Blockchain
Blockchain

As cryptocurrency falls out of the zeitgeist, other blockchain applications are rising up to replace it. As we move into 2024, it’s becoming clear that finance isn’t the only sector in which blockchain technologies can be applied.

The conversation around Web3 technologies was primarily overshadowed by advances in the field of generative AI in 2023, but that doesn’t mean those technologies have gone anywhere. The majority of business leaders (around 84%) have expanded their understanding of blockchain beyond cryptocurrency and are seeing potential applications in energy transformation, decarbonization, supply chain management, fraud prevention, and cybersecurity.

Remote Working Solutions
Remote Working Solutions

Remote and hybrid work is here to stay, with over 70% of companies in 2023 permanently allowing some form of remote or hybrid work. The technologies that support these strategies continue to evolve, and businesses must stay abreast of what solutions exist to manage remote and hybrid employees effectively.

Further automation of HR processes, the expansion of geographically diverse workforces, the advent of more freelancers and part-time employees, and the increased importance of data security will shape how we collaborate in 2024 and beyond.