Top Tech Trends to Watch in 2024

By Emil Bjerg, journalist and editor

In the first month of the new year, we look at the tech trends and innovations that will define 2024. From social media to cybersecurity, we cover what is – almost – guaranteed to have an impact this year. If you are looking for the best tech products, check Currys discount vouchers at Latest Deals. 

2023 was a year with enormous momentum with generative AI at the center of a lot developments and hype. The fast pace of competition and innovation in tech shows no signs of slowing down in 2024.

We’re in for another ride – here’s what we can expect.

AI everywhere

Let’s get the obvious out of the way. Just like in 2023, significant developments and integration of AI will characterize 2024 – for better and worse.

There are several reasons for that.

Innovations in AI

First of all, 2024 will continue to sprout innovations in AI.

The recent CES conference in Las Vegas examplified that with countless AI gadgets, from the useful to the weird – judge yourself: from AI-powered cat doors that prevent pets from bringing in dead animals to high-tech mattresses and pillows designed to reduce snoring. At this year’s tech gathering, CES participants could even try out a smart mirror that supposedly boosts the viewer’s confidence and mood.

CES has previously been all about the metaverse and IoT home devices. This year, gen AI gadgets took center stage. In 2024, we’ll see a lot of experiments in this stage: most will fail, some will stick.

A new language forming around AI

On another note, Forbes predicts that the term large language model will become less and less used as gen AI becomes more multimodal: “A richer term than “language model” should and will exist for such models,” Forbes writes.

In 2023, Chief AI Officer became the C-suite’s hottest new job. In 2024, we might get used to saying CAIO, as many established companies will follow suit and appoint a Chief AI Officer.

Big Tech race to dominate gen AI

In 2023, the gen AI race became a race between the tech giants as Microsoft invested massively in OpenAI, Amazon in Anthropic.

2024 will be the year when Google will fully launch Gemini, their powerful large language model that they did a somewhat rushed release of in the very last minute of 2023. On paper, Gemini surpasses GPT-4, but Gemini will have to impress users on a scale to outcompete OpenAI.

An end to the AI honeymoon days
We’re likely to see an end to over-eager gen AI adaption and hype this year. In 2024, the AI honeymoon days will likely end for good.

Elections will likely play a role in this. We can expect AI to create and spread misinformation rapidly in 2024, as half of the world’s population will vote, including major democracies like the United States and India.

According to a recent report from the World Economic Forum, misleading and false information “supercharged with cutting-edge artificial intelligence[…] threatens to erode democracy and polarize society is the top immediate risk to the global economy”.

The US election in 2024 might do to gen AI what the 2016 elections did to social media: expose issues with the technology that generally turn the tides against what was generally perceived as a new and exciting technology. We’ll be more prepared for it this time, but the multi-purpose nature of gen AI (coupled with speedy social media) makes it challenging to avoid widespread misinformation.

In 2024, leading companies in gen AI are looking into copyright trials from several well-known authors, as well as the New York Times. Forbes predicts that at “least one U.S. court will rule that gen AI models trained on the internet represent a violation of copyright.”

In other words, we can expect 2024 to be a year where we continue to see the enormous potential as well as the very immediate threats of AI play out in expected and unexpected ways.

Virtual and augmented reality

With the release of Chat-GPT, AI hype seemed to replace – modest – excitement about metaverses.

But in the past years, we have seen virtual and augmented reality used in a number of contexts, from therapy to training in simulated environments. In 2024, we will likely see a popular breakthrough in new use cases. That could be in immersive e-commerce, where virtual and augmented reality can enhance customer experiences by allowing virtual product trials, creating immersive shopping environments. Big players like Alibaba and Amazon are already experimenting with 3D content to improve customer experience and minimize returns​​.

A new digital public square

Twitter – now X – has, for better or worse, been a digital public square for a decade. After Elon Musk’s takeover, the social media has been in a steady decline – in users and advertisers. Users are fleeing to a number of alternatives: Threads, Blue Sky, Mastodon, while most major advertisers have been scared off by the antics of the owner. By the end of the year, we’re likely to have an indication of where people will group online to muse and rant. It likely won’t be X.

Quantum computing

Quantum computing is swiftly developing a whole new paradigm of computing that takes advantage of key findings in quantum physics. Quantum computers operate using quantum bits or qubits. Contrary to classical bits representing either a 0 or a 1, qubits can simultaneously exist in multiple states. Laypeople might soon get used to the concepts of superposition, which allows for qubits to be in a combination of states, and entanglement, which connects qubits in a way so that one qubit affects the other.

Experts predict that in 2024 quantum computing could start finding practical applications among the likes of medical researchers and cybersecurity professionals.

Giant computing actors like IBM, Google, Microsoft, and Honeywell, as well as computing heavyweights in China, are working – and competing – to make that happen.

Quantum computing, once fully developed, promises to revolutionize fields requiring intensive computation, such as medicine, environmental science, and economics, by solving complex problems currently beyond the reach of traditional computers. A breakthrough in quantum computing comes with almost unimaginable advantages – and unimagined threats. Breakthroughs in quantum computing necessitate breakthroughs in cybersecurity.

Cybersecurity

In a high-stakes battle between stability and distability, the complexity of cybersecurity continues to grow. In 2024, we can expect significant developments in this space, particularly in response to the advancing field of quantum computing.

Leaps in cybersecurity also continue to be essential as we’re witnessing an increase in the number and sophistication of cyber attacks. The increase is happening both as a response to the geopolitical situation as well as the rise in ransomware attacks and related cybercriminal activity.

A primary focus in 2024 will be on post-quantum cryptography (PQS) designed to protect data against the potential threats posed by quantum computers. Unlike traditional cryptography, PQC aims to develop security measures resistant to classical and quantum computing attacks.

Sustainable technology

In 2024, two sustainable technology trends will significantly impact the green transition. Firstly, the renewable energy sector is evolving rapidly, with solar and wind power leading the charge. Innovations in solar panel efficiency and affordability, coupled with advancements in wind turbine technology, are poised to revolutionize our approach to sustainable energy. Secondly, energy storage solutions are transforming. Developing more efficient, longer-lasting batteries is crucial for maximizing the benefits of renewable energy.

Recently, AI was used to successfully discover material combinations that can replace resource-intensive lithium batteries.  In 2024, AI – and possibly quantum computing – can accelerate the discovery process, potentially ushering in a golden age of innovation in sustainable technology.

And like that, we’re back where we started: with AI, that might be as defining – potentially even more – for the new year than it was for the previous. In 2024, we can also expect developments in space tech, micro- and AI chips, and much more that we don’t have the space to cover here. Stay tuned to European Business Review for continuous tech coverage.