In 2024, there are several emerging technology trends that are set to define the year. These trends include:
- Generative AI (GenAI): This technology uses AI to generate content such as text, images, and videos. The GenAI market is expected to grow 42% by 2032 and could generate an economic value worth $23.5 billion in the Middle East and North Africa (MENA) region by 2030.
- Industry cloud platforms: As more industries embrace digital transformation, cloud services have evolved to offer industry-tailored solutions with AI, machine learning, and data analytics capabilities. Google has been leading the way in offering production-ready industry solutions.
- Merging of real and virtual worlds: The merging of real and virtual worlds, facilitated by AR and VR technologies, has implications for gaming, entertainment, social media, retail, healthcare, and manufacturing. The AR/VR headset market is expected to grow 46.8% year-on-year in 2024.
- Sustainable technology: Sustainable technology focuses on enabling environmental, social, and governance (ESG) outcomes for enterprises and individuals. This includes automation, leveraging AI for climate change impact assessments, adopting eco-friendly practices, and using innovative solutions for carbon capture and green energy.
- Enhanced connectivity: The deployment of 5G has significantly improved global connectivity standards, with 1.9 billion 5G connections expected by 2023. In the MENA region, 5G mobile subscriptions are projected to increase from 24 million in 2022 to 270 million by 2028. The development of 6G is also underway.
These technology trends offer opportunities for businesses and individuals to innovate, improve productivity, enhance customer experiences, and contribute to sustainability efforts. Whether it’s through the use of AI, cloud platforms, augmented reality, or sustainable practices, technology continues to shape our daily lives and industries.