As we approach the end of 2024, several digital technology trends are emerging, reshaping industries and driving innovation. In particular, according to the McKinsey Technology Trends Outlook for 2024, generative AI continues to lead the charge, with investment skyrocketing and its applications expanding across industries. Companies are now leveraging AI for tasks such as content generation, automation, and customer service, thanks to advances in large language models (LLMs), while the rise of generative AI is also driving developments in robotics, immersive reality and machine learning. Let’s take a look at the biggest trends in the coming months and what to expect in the future.
Generative AI and its ripple effect
Generative AI has evolved from a niche innovation to a driving force for technological development. By the end of 2024, its integration into business systems will be commonplace, with applications ranging from video content generation to medicine discovery revolution. Large-scale models are now capable of processing increasingly complex prompts, and as a result, the growing capabilities of these systems are pushing companies to adopt AI solutions across their operations, improving the overall efficiency of their activities. Investments in generative AI, particularly in language models, have increased by more than 700%, demonstrating widespread recognition of the value of AI.
The rapid adoption of AI has also catalyzed innovation in adjacent fields such as robotics and machine learning. The increased capabilities of AI are improving robotic systems, making them more adaptable, efficient, and suitable for different sectors, from manufacturing to healthcare. This is leading companies to explore new use cases, such as robotics in logistics and even customer interaction, demonstrating a broader shift towards automation.
Electrification and renewables surge
Another major trend for the end of 2024 is the growing focus on electrification and renewable energy. In the face of global decarbonization goals and energy security concerns, investments in clean technologies have been steadily increasing. Both governments and private sectors are doubling down on renewable energy infrastructure, driven by both environmental goals and geopolitical factors, which also has implications for job growth, reflecting the importance of the sector and leading experts to predict that technologies related to energy efficiency and sustainability will remain at the forefront of innovation.
The AI revolution continues
However, there are other important topics of discussion when it comes to artificial intelligence. In addition to generative AI, in fact, two other major trends in the sector are ready to revolutionize the future of humanity: we are talking, in particular, about applied AI and industrialized machine learning.
Applied AI is used, in particular, to perform complex analyses, helping companies to optimize operations and predict future results. This rapidly evolving field has already seen the consolidation of the use of this technology in areas such as entertainment and gaming, with solutions that have allowed companies that manage online casinos with roulette and other games to offer an increasingly enjoyable and engaging digital experience from all points of view. This tech seems destined not only to improve but also to cover every other field of application.
Industrialized machine learning, on the other hand, is making AI deployments more reliable and scalable, helping companies manage the risks associated with AI adoption. These are two trends that, combined with the rise of generative AI, represent a new era for AI applications in business.
Challenges and the path forward
Despite the progress, companies also face significant challenges in fully adopting these technologies. Equity investments in technology have declined significantly in 2023 due to economic pressures, leading to a more cautious approach in 2024. However, optimism remains strong for long-term growth, with companies increasingly focused on technologies that can deliver both revenue generation and cost efficiency, while struggling with a significant skills gap.
As demand for artificial intelligence, electrification and other advanced digital technologies grows, finding talent with the necessary skills remains a critical bottleneck.
2024 is shaping up to be a pivotal year for new digital trends. While economic factors have created a more cautious investment environment, innovation shows no signs of slowing down and the long-term outlook for digital technologies remains bright. That’s why, as we approach 2025, it’s easy to predict that companies that embrace emerging technologies will be better positioned to navigate the evolving digital landscape and drive significant growth.
