In 2023, technology advancements surged, paving the way for an exciting 2024 for enterprise technology. The fast pace of innovation is redefining the workplace, and we don’t expect that to stop anytime soon. In fact, Gartner’s forecast of an 8.8% increase in IT spending for 2024—nearly double its 2023 estimate—shows the escalating importance of enterprise technology.
So, what do these changes mean for our digital strategies and tech initiatives in 2024 and beyond? In this article, we’ll explore Neostella’s predictions for the technology and automation trends we will see in 2024.
To no surprise, artificial intelligence ranks at the start of our list. Al has gone beyond being a buzzword and is now embedded in our everyday tools. Gartner predicts that by 2026, over 80% of enterprises will have incorporated GenAI APIs and models, marking a significant shift from the mere 5% in early 2023.
Adopting AI in the workplace offers an opportunity to strategically realign IT resources, foster creativity, and alignment with business strategies
Robotic process automation continues to be a game-changer, redefining industries by automating routine, rule-based tasks. In 2024, RPA will extend its reach beyond healthcare, finance, customer service, and more, offering improved efficiency and reduced operational costs.
Report findings reveal that 22% of organizations that are not yet investing in RPA plan to in 2024. This data shows the growing significance of RPA and its potential to drive productivity and streamline operations.
Ranking number four on Gartner’s 2024 Top Strategic Trends report, Platform Engineering involves building and operating self-service internal platforms. Tailoring to the unique needs of internal users while improving productivity, this approach ensures organizations have agile, efficient platforms to optimize operations.
Tailoring to internal users’ needs while improving productivity ensures organizations have agile and efficient platforms to optimize ops.
With technological advancements come evolving cybersecurity threats. Research indicates that one in two businesses has fallen victim to cybersecurity attacks in the past three years. This underlines the critical importance of staying ahead in the realm of cybersecurity.
In 2024, we can anticipate the development of advanced security measures, including AI-driven threat detection, biometric authentication, and improved encryption protocols.
Environmental concerns will be a driving force behind the development of sustainable technology in 2024. With sustainable technology also making an appearance on Gartner’s predictions for 2024, an IDC survey commissioned by UiPath also found that 54% of organizations are already using enterprise automation technologies to help implement sustainability initiatives, and another 24% plan to do so in the coming two years.
Process discovery technologies, also known as process mining, will continue to become more common as they enable businesses to automatically identify and evaluate their current processes. Playing an important role in data-driven efficiency, process mining tools are instrumental in prioritizing and streamlining RPA activities.
In fact, according to Gartner, the process mining market is set to reach $2.3 billion by 2025, with a double-digit CAGR of 33%. This growth is attributed to the acceleration of digital transformation efforts, increased process visibility requirements due to remote work, and growing demands for operational resilience.
In 2024, IT roles will undergo a transformation, with creativity and problem-solving being essential to stand out from the competition. Deloitte predicts that organizations will need to embrace flexibility to attract and retain tech talent. This will be key to ensure digital transformation projects success, among a lack of internal resources and skills.
To meet the need for scaling talent, the augmented-connected workforce strategy will be crucial in 2024. This approach combines intelligent applications and human-driven activity to enhance the workforce’s experience, well-being, skill development, and ultimately drive business results. Gartner predicts that by 2027, at least 25% of CIOs will adopt an augmented-connected workforce initiative.
Appearing again from our 2023 automation trend predictions, low-code/no-code platforms are still becoming increasingly popular, because of their ability to simplify automation and software integration. The market is projected to grow with a CAGR of 30% by 2030, showing that low-code/no-code tools will continue to be a priority for getting automation and Al into the hands of more businesses.
By 2025, McKinsey anticipates that nearly all employees will routinely use data to support work. This emphasizes the importance of creating a data-driven environment that gives employees the ability to make decisions based on processes and to put optimization, coordination, and communication as top priorities.
2024 is shaping to be yet another pivotal year in the ongoing technological revolution. These ten 2024 technology and automation trends will change the workplace as we know it, driving innovation, efficiency, and transformation. To successfully navigate this landscape, it is crucial for enterprises to stay informed and adapt, harnessing the power of technology and automation to ensure you’re maximizing full potential.