As an organization, we’re always more concerned with the ins and outs of RPA (robotic process automation) and automation in general. That’s why we provide detailed annual recaps and future predictions for where automation will go in the following calendar year.
When you’re profoundly invested in one major enterprise software, it’s impossible not to maintain a pulse on what’s next and what else is being developed in the world of enterprise technology.
As we come to the close of 2023, here are the six technology trends to watch and keep your eye on as we usher in 2024.
Technology Trend #1 – Generative AI (Artificial Intelligence)
Generative AI dominated headlines and mindshare in 2023. It would appear that we’re just at the onset of the hype cycle. Applications of generative AI like ChatGPT still haven’t reached the summit of expectations, meaning there’s still a lot of room to grow before entering the trough of disillusionment.
Gartner predicts that 80% of enterprises will have used generative AI APIs or deployed generative AI-enabled applications by 2026. Organizations are still grasping and exploring all the wide-ranging applications of generative AI from improving the user experience, to accelerating content development, and augmenting task execution.
In 2024, experimentation and application will continue as enterprises double down on how they can leverage generative AI to deliver on their objectives like reducing costs, improving the customer experience, achieving digital transformation, and becoming more efficient.
Technology Trend #2 – Intelligent Automation
Staying on the theme of artificial intelligence, we expect intelligent automation to take another significant leap forward in 2024.
Intelligent automation combines the task and rules-based automation of RPA with AI technologies like machine learning, natural language processing (NLP), and computer vision to automate complex, decision-based business processes.
According to Blueprint research on the State of RPA in 2023, organizations have already started exploring the implementation of intelligent automation, but application is still very much in its infancy.
As the technology improves and becomes more robust and sophisticated, the adoption of intelligent automation will naturally take off because the returns on automating complex, decision-based business processes instead of just tasks have a lot more upside.
Technology Trend #3 – Low-Code/No-Code Development
Digital transformation is still a major objective for nearly all enterprises. A new method of achieving digital transformation that organizations have latched onto is democratizing software development through low-code/no-code development platforms.
Through low-code/no-code platforms, organizations are empowering the average business user or citizen developer to contribute to their digital transformation by enabling them to build applications and automations through easy-to-use drag-and-drop canvasses.
Expect platforms like the Microsoft Power Platform to get a lot more attention in 2024 as more organizations turn to low-code/no-code development to drive their digital strategies.
Technology Trend #4 – Sustainable Technology
Organizations everywhere are actively trying to meet their net-zero objectives and promises. 2024 will be dedicated to making more strides towards that aim.
Sustainable technology refers to both the development of technology that is designed to improve and mitigate environmental concerns and carbonization—think electric cars. The other side to sustainable technology is fulfilling operations and production with ethical, environmentally responsible practices like using renewable energy and procuring the services of eco-friendly vendors.
Sustainable technology will once again take center stage in 2024 as organizations look for green alternatives to meet their net-zero targets regardless of sector, whether it’s producing more environmentally sound manufacturing methods or establishing green practices for the entire workforce.
Technology Trend #5 – AI-Assisted Cybersecurity
Cybersecurity is a concern for every organization. Cybercriminals and the techniques they use to threaten and infiltrate companies are becoming more sophisticated.
To combat the constant threat of cybercrime, 2024 will see even greater investment and innovation regarding how organizations marry AI capabilities with their security infrastructures and protocols.
AI will see greater application in vulnerability management, accelerated detection and response times to security incidents, more robust authentication practices, and leveraging machine learning to stay ahead of emerging security threats.
Technology Trend #6 – Datafication
Datafication has been around for a long time changing how companies operate and do business, however its use and capabilities are only starting to really take off.
Datafication refers to the transformation of all the elements of how a business operates into quantifiable data that is collected, monitored, and analyzed. This data can then be used to inform decision-making and improve various aspects of how the business performs.
Datafication has already shown its potential to exponentially improve the following:
- Personalization – using data to personalize products and services for individual customers
- Predictive analytics – using analytics and machine learning to predict future trends, performance, and customer behavior
- Operational efficiency – streamlining business processes to improve operational efficiency by analyzing how tasks are executed and identifying bottlenecks to optimize workflows
- Product development – using data-driven insights to inform product roadmaps according to what their user base and the market expect
- Regulatory compliance – applying increased use of data to implement greater scrutiny around data privacy and security
While these applications and practices are already in full flight, 2024 and beyond will see greater implementation and use of datafication as the focus on data collection and thorough analysis will only increase.
Of course, this above selection is just a sample of what the following year might bring. There are always, however, surprises and unseen upstarts as technological innovation only seems to be accelerating.
From what we’ve gathered this year and can foretell to the best of our abilities, the following technology trends will be worth watching in 2024:
- Generative AI
- Intelligent Automation
- Low-Code/No-Code Development
- Sustainable Technology
- AI-Assisted Cybersecurity