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We live in unprecedented times, the COVID-19 pandemic set off a chain of events that changed the face of business. This was rapidly followed by substantial geopolitical concerns and then – to top it off – disruptive tech like AI burst onto the scene carrying both challenges and opportunities in its wake.
In this environment, keeping informed of the latest tech business trends is essential. Let’s look at how tech like AI, the Internet of Things (IoT), and much more, are changing the face of business as we move into 2024.
Business Tech Trends to Look Out for in 2024
From the integration of advanced AI and machine learning into everyday business processes to the adoption of sustainable technologies that promise a greener future, the next wave of business technology promises to be the most transformative for decades.
Here are the main business tech trends to watch out for in 2024:
Artificial Intelligence: Beyond Automation
AI is one of those tech concepts that always seemed to be just out of grasp. That changed rapidly in the space of a few short months. In 2024, the use of AI in business will continue to experience massive growth, this will include such areas as:
- Data analysis: AI algorithms are now capable of predicting market trends and customer behaviour with astonishing accuracy. Al you need is to get the right data to feed to AI and it will do the rest.
- Customer service: Chatbots and virtual assistants powered by AI are providing 24/7 customer support and personalised experiences.
- Decision-making: AI-driven analytics are helping businesses make informed decisions by providing actionable insights in real-time.
We are only just beginning to explore the potential of AI, 2024 promises to expand the boundaries of what is possible with a technology that is still in its infancy.
Internet of Things (IoT): A Connected Future
The Internet of Things (IoT) is another technology that has taken time to gather meaningful momentum. However, this has also changed relatively recently, and especially when paired with AI, there are huge benefits available for business, these include:
- Operational efficiency: IoT devices streamline operations, offering real-time monitoring and predictive maintenance.
- Data collection: Sensors collect vast amounts of data, providing deep insights into customer behaviour and system performance.
- Resource management: IoT technology enables more efficient use of resources, reducing waste and saving costs.
As we move into 2024, IoT is set to become the backbone of business intelligence, making the connected future a present reality.
Smart Security: Biometrics, IoT and Cloud Solutions
Convergence between business departments has been central to many tech trends in recent years, this will likely continue through 2024. Smart physical security technologies like access control readers, security cameras and alarm systems will not only help businesses to become more secure, but also aid leaders in achieving a more holistic view of their organisations.
Key smart security trends to keep an eye on in 2024 include:
- Biometrics: Identity management becomes much simpler when credentials are tied to biometric indicators, allowing teams to combine access control with things like amenity booking and scheduling systems. However, teams will need to prioritise data security.
- IoT: As previously mentioned, IoT sensors help businesses collect large quantities of high-quality data, this can be used to create proactive physical security systems.
- Cloud solutions: With hybrid teams now part of the new normal, the ability to manage both logistics management and security processes remotely will be seen as invaluable.
As each of these technologies are further developed, the space between security and general resource management will begin to shrink.
Cybersecurity: An Ongoing Business Imperative
The way we access our data has changed and cybersecurity must evolve rapidly to rise to the challenges this change has provoked. With the addition of ever-changing regulations to muddy the waters further, the cybersecurity stakes have never been higher.
Here are some of the cybersecurity tech trends to watch for in 2024:
- Threat intelligence: Advanced systems powered by AI are predicting and neutralising threats before they can cause harm.
- Access control: Robust access control systems are critical in safeguarding information, ensuring that only authorised personnel can access sensitive data.
- Regulatory compliance: With increasing data protection regulations, businesses are investing in cybersecurity measures that ensure compliance and protect customer data.
In an ideal world, this wouldn’t need to be a trend. However, in reality, this is more than a trend – it is a business imperative.
Building Management Systems: A Push for Sustainability
With the ongoing climate crisis continuing to dominate news cycles around the world, leading companies can no longer avoid the subject of sustainability. Thankfully, developing energy efficient building management systems has perhaps never been easier with increasing cloud adoption rates and the advent of proactive AI analytics software.
Integrated physical security and building management system trends in 2024 will likely involve:
- Data-driven automation: Traditional physical security devices like cameras and access control systems will take on new roles, collecting actionable occupancy data used to inform HVAC and lighting systems.
- Security and logistics integration: AI-informed cameras will be used to both improve threat detection processes and optimise logistics management, streamlining numerous pursuits from parking management to manufacturing operations.
- Compliance technology: The same systems used to optimise property management can help businesses maintain compliance with industry-specific regulations, improving health and safety in the workplace
While sustainability may be the priority, automated building management systems will begin to benefit industries in potentially significant ways.
Remote Work Tech: Redefining Collaboration
The move to remote and hybrid work practices continues to be a major driver of business trends. In 2024, this trend will continue to shape the business landscape. Here are a few of the ways that remote working will continue to be a business tech trend in 2024:
- Collaboration tools: Video conferencing and project management software are evolving to maximise the performance of remote workers.
- Cloud computing: The cloud is becoming more robust, providing the infrastructure for secure, scalable remote work environments.
- Virtual workspaces: Innovations in virtual reality (VR) and augmented reality (AR) are beginning to create immersive workspaces that transcend physical boundaries.
Remote work is here to stay, what is still unclear is where the balance of this will lie. In 2024, we can expect the above tech to continue to define the workplace and the place that remote working plays in the years ahead.
2024: A Defining Year Ahead?
There are many different ways that businesses can implement technology, but implementing is a must. If the rise of technology like AI caught many businesses flat-footed, then 2024 promises to be the year that businesses add the most promising new technology in decades to their arsenal.
While the tech trends in 2024 are more than just AI, the technology is so pervasive that it lies at the core of just about every tech trend that is likely to emerge.
