Our Predictions for 2024

As we venture into 2024, businesses are poised to navigate a landscape moulded by significant technological and societal trends.

Despite a cautious stance due to the global economic downturn, the pervasive use of generative AI is revolutionising how companies innovate in customer experiences and internal operations. This technology, deeply integrated into many products and services, is now accessible to a broad range of organisations, enabling them to stay competitive.

The Tech Trends 2024 report by Info-Tech Research Group further highlights the significant impact of Generative AI across industries. It represents a new era of computing that merges the digital and physical realms. Technology leaders are presented with a unique opportunity to scale businesses and services in a challenging economic environment. However, this comes with the responsibility of deploying AI in a manner that is ethical and safeguards intellectual property.

The report outlines six key trends, divided into opportunities and risks. The opportunities include AI-driven business models, autonomised back offices, and spatial computing. These trends suggest a shift towards more intelligent, automated, and immersive digital environments in business operations. On the risk mitigation side, the focus is on responsible AI, security by design, and digital sovereignty. These aspects emphasise the need for ethical AI practices, robust security measures integrated into technology design, and maintaining control over digital assets and data. This strategic approach is crucial for IT and business leaders to navigate the evolving landscape and harness the potential of AI while addressing its challenges.

Alongside this, there's an increasing emphasis on soft skills and the human touch. As automation handles more technical tasks, skills like emotional intelligence, communication, and high-level strategy become crucial. Companies are expected to invest more in nurturing these skills, recognising their value in tasks that require a human element.

Another significant trend is the shift in hiring practices, focusing more on specific skills and experiences rather than traditional markers like educational attainment. This change is part of the industry's response to the ongoing skills shortage, with increased investment in training and upskilling, especially in areas relevant to an AI-driven economy.

Sustainability also emerges as a key focus, driven by consumer demand and the realisation that environmentally friendly practices can lead to economic benefits. Personalisation at scale is becoming increasingly important, with companies like L’Oréal and Nike leading the way in offering customised products. This trend towards personalisation is expected to grow, enabling companies of all sizes to build stronger customer relationships.

In conclusion, as we embrace these transformative trends in 2024, it's clear that navigating this evolving business and technological landscape requires not just awareness but strategic guidance. This is where Glen Ogle Partners steps in. With our expertise and forward-thinking approach, we are uniquely positioned to help businesses adapt to these changes and seize the opportunities they present.

References:

• The 10 Biggest Business Trends For 2024 Everyone Must Be Ready For Now (forbes.com)

• Tech Trends 2024 | Info-Tech Research Group (infotech.com)