2024 Tech Outlook:
AI, Edge &Innovation

  • 2024 Tech Outlook:
    AI, Edge & Innovation

As we step into 2024, the tech landscape is poised for groundbreaking shifts that will redefine industries and reshape our digital interactions. This article explores the forefront of technology, offering insights into the pivotal trends dominating 2024. From artificial intelligence integration to hyperautomation evolution and the implementation of post-quantum cryptography, we are eager to offer an expert overview of the transformative forces shaping the tech industry.

2023 Highlights

1.
  • 2023 Highlights
In the rollercoaster ride that was 2023, where layoffs and economic uncertainties took center stage, the tech industry turned the tables with resilience and innovation. Despite the challenges, tech companies not only weathered the storm but also embraced fresh opportunities, diving into new technologies with enthusiasm.
Two standout moments stole the tech spotlight during this transformative year. First up, ChatGPT and its generative AI stole the show, changing the game in how we interact with computers. Launched in late 2022, ChatGPT skyrocketed, hitting a staggering 100 million users within two months and almost doubling that number to nearly 200 million users by this year's end. Powered by Large Language Models (LLM) like OpenAI's GPT-4, this success underscored the industry's commitment to enhancing user experiences and making technology more intuitive and human-like.
Then came Apple's Vision Pro headset, making waves in June and turning augmented and virtual reality into something truly extraordinary. This groundbreaking device ushered in a new era of augmented and virtual reality, providing unparalleled mixed-reality experiences as a standalone spatial computer. Despite economic uncertainties, the tech world welcomed this innovation, with Vision Pro generating significant interest and influencing consumer behavior.
This dynamic duo of ChatGPT and Apple Vision Pro not only revived the industry but also hinted at a potential game-changing shift. As the tech realm continues its evolution, the adaptability and innovation showcased in 2023 set the stage for exciting progress in the years ahead.

Coming Back to 2024

2.
  • Coming Back to 2024
AI Dominance
GitMax's team is placing its bets: 2024 is primed to be the grand AI spectacle, a pivotal year reshaping the tech landscape. Analysts at GitMax have meticulously identified key trends set to shape the landscape of AI in the forthcoming year.
At the forefront of these developments is a burgeoning trend — crafting smaller, yet intricately precise AI models. The developer community is fervently engaged in the creation of these scaled-down agents, with the expectation that their compact size will yield heightened productivity and specialized knowledge in designated domains. It's as if the tech stage is making room for the rise of the small but powerful.
Simultaneously, there's an undeniable surge in the acquisition of training data, exemplified by OpenAI's proactive initiative to procure datasets from strategic partners. This strategic move is poised to significantly enhance the training set for the upcoming GPT-5 model, setting the stage for a heavyweight champion among AI models.

On the financial front, Air Street Capital analysts project the possibility of at least one AI company making its mark through an IPO in 2024. This potential move signals the  maturation of the AI industry, as companies explore avenues for public investment to fuel their growth.
Meanwhile, a competitive environment is expected for AI training processors to emerge in the coming year. OpenAI's CEO, Sam Altman, noted the temporary suspension of ChatGPT subscriptions due to high computational demands.

Workloads are piling up, and it's time for the industry giants to make their strategic moves. It's like Silicon Valley's very own blockbuster season is unfolding.

Widespread Adoption of AI Applications

3.
  • Widespread Adoption of AI Applications
GitMax sees a big AI takeover happening by 2024. They're saying AI applications will become the go-to guys across different sectors, revolutionizing how we handle data, tackle complex tasks, and make decisions as sharp as humans.

Here are the key areas where AI is likely to make significant inroads:

  • 1
    Real-time detection of cybersecurity vulnerabilities and prevention of attacks.
  • 2
    Enhancing the efficiency of supply chain automation and warehouse operations.
  • 3
    Assisting and expediting software development.
  • 4
    Automating customer service.
  • 5
    Accelerating candidate verification, job matching, and personnel hiring.
  • 6
    Speeding up research on diseases and the discovery of medications.
  • 7
    Automating and stabilizing power supply sources.
Air Street Capital is on board with GitMax, predicting that self-learning AI agents will be the rockstars of 2024, mastering tasks like game development and scientific problem-solving.

The Rise of Edge Computing

4.
  • The Rise of Edge Computing
Our analysis indicates a significant shift by 2024:
Edge data centers (EOCs) are set to take center stage, assisting companies in managing the ever-growing volume of data, especially concerning AI systems. The exciting part? The costs of developing and deploying edge systems are expected to drop significantly, and the technologies themselves will mature.
Looking ahead to the next year, this progress is set to empower companies to amp up their security game. Expect advanced encryption algorithms, secure boot mechanisms, and hardware security functions to become the norm. GitMax sees companies embracing this approach, with many planning to seamlessly integrate their edge devices with the cloud within the next three years.

The wider rollout of 5G in 2024 is anticipated to open up new possibilities for edge computing. This enhanced connectivity will pave the way for the Internet of Things (IoT) to flourish across various sectors, promoting more efficient automation and integration of AI tools.
In the grand scheme of things, 2024 is earmarked as the year when edge computing transforms into a service (EaaS). This shift will allow companies to tailor their edge computing resources with specific subscriptions, offering flexibility without hefty infrastructure investments.
But wait, there's more!
Analysts at StartUs Insights are buzzing about the Internet of Robotic Things (IoRT).

Picture this: robots doing their thing, powered by edge computing. Take, for instance, Sky Powerlines, a forward-thinking Portuguese startup. They're deploying IoT-based drones for aerial photogrammetry, mapping out power lines in 3D. A sophisticated Software as a Service (SaaS) platform then analyzes the data, helping companies plan power lines more efficiently and cut down on inspection costs.

Hyperautomation

5.
  • Hyperautomation
We're expecting a major makeover in automation processes among top-notch companies, leveraging the potential of artificial intelligence. Imagine this: autonomous assistants and digital colleagues, based on large language models, are about to become the backbone of agile workflows. Think of AI-driven chatbots as the behind-the-scenes heroes, ready to provide 24/7 customer support and other crucial services.
What can it result in?
  • 10% of all operations can be executed by digital employees, handling tasks like sales, delivery, customization, and product support, as well as administrative services and maintenance.
    1
  • Advancements in autonomous delivery, with unmanned forklifts, delivery robots, and drones handling a significant portion of the workload.
    2
  • Corporate application providers can take charge of 35% of all automation expenses. The primary focus lies in the development of sophisticated visualization tools and process analytics seamlessly integrated into corporate application platforms.
    3
Here's a noteworthy insight: By 2024, a staggering 80% of the top 600 global IT companies are projected to implement hyperautomation as a pivotal component of their strategic roadmaps. This isn't merely a passing trend — it’s an acknowledgment of the role hyperautomation will play in shaping the future of IT enterprises.

Post-Quantum Cryptography

6.
  • Post-Quantum Cryptography
We’re anticipating to witness the rise of post-quantum cryptography, a high-tech shield against the looming threat of quantum computer-driven cyber attacks. Now, you might be wondering, "What in the quantum realm is post-quantum cryptography?"
In simple terms, post-quantum cryptography is a type of digital security that aims to protect information from powerful computers that could potentially break traditional encryption methods.

Regular encryption, like the ones we use today, relies on the difficulty of certain math problems to keep information safe. However, as computers become more advanced, particularly with the development of quantum computers, they might be able to solve these math problems much faster than our current computers.
Now, here's the scoop:
The National Institute of Standards and Technology (NIST) is gearing up to unleash not one, not two, but three powerful post-quantum encryption algorithms into the wild by 2024. It's like the Avengers assembling but for your data's protection.
  • Tech giants are already making strides in fortifying their systems. Google, for instance, has begun implementing quantum-resistant encryption algorithms in Chrome version 116. Additionally, the company has proposed an open version of the FIDO encryption algorithm, enabling secure site login without passwords – because who needs passwords in the quantum age? Google aims for widespread support for this innovation across major web browsers.

  • The Signal messenger has also updated its end-to-end encryption protocol, incorporating a quantum-resistant algorithm.
Experts are waving the security wand, encouraging companies to jump on the post-quantum encryption train before trouble knocks on the digital door. By being proactive, not only do you get a shield against future data dramas, but it's also like having a bulwark against current attacks using the ominous "collect now, decrypt later" strategy.

Conclusion

  • Conclusion
GitMax is calling it – 2024 is the year where AI takes center stage, revolutionizing how businesses handle operations, delivery, and automation expenses. Gear up for the upcoming change, aspiring not merely to survive but to thrive and outshine competitors.