The year has just begun, yet we are already aware that 2024 is shaping up to be an exciting year in the realm of technology. Recently, we have witnessed significant advancements that are accelerating the pace of this sector.
Technologies like AI and 5G connectivity are already transforming society, work, education, health, and consumption. It is expected that this year we will see these technologies further solidify their place and witness the emergence of others that will impact our lives.
It is no coincidence that OpenAI, the creator of ChatGPT, ended 2023 with a valuation of 100 billion dollars, becoming the second most valuable startup in the United States. Moreover, it has raised over eleven billion dollars in funding since its inception in 2015.
Today, we analyze the technology trends that will make headlines in 2024:
1. Sustainability: This concept has also reached the technological field and it is anticipated that from manufacturing to the approach of products and services, development will be through this lens.
In our region, this topic will play a significant role, as Valencia is the European Green Capital 2024. It will also be addressed again in the programming of VDS2024, the 7th edition of the international technology event organized by Startup Valencia, which will be held in October at the City of Arts and Sciences. The 2030 Agenda sets goals for companies and countries, opening a vast field of opportunities for sustainable solutions.
2. Artificial Intelligence: The star topic of 2023 that this year must demonstrate how it evolves. It is expected to continue advancing with applications in various fields such as health, automotive, security, customer service, and the industry in general. It will also have to show how it coexists with existing and future regulations.
As of February, the European Parliament has approved the agreement reached in December 2023 that will shape the world’s first law on artificial intelligence (AI). The next step is the final vote by the Eurochamber, scheduled for April, and the subsequent adoption and endorsement by the 27 member states.
3. 5G and Advanced Connectivity: The possibilities offered by total and guaranteed connectivity are endless. The implementation and expansion of 5G networks will lead to higher connection speeds and enable new applications in areas such as the Internet of Things (IoT), augmented reality, or virtual reality.
To complement the connection options offered by fiber and 5G, Elon Musk launches the satellite internet service with Starlink. A model that promises to connect rural areas where neither fixed nor mobile networks can reach.
4. Blockchain and Cryptocurrencies: Despite being well-known, blockchain technology and cryptocurrencies have not reached their peak. This year we will see more deeply how they work in the business environment and their applications beyond finance.
Blockchain technology will show its full potential, independent of the crypto world, to authenticate our identity, guarantee traceability, or improve supply chain management. As for cryptocurrencies, all signs point to a bullish market trend in 2024, partly because at the beginning of the year, the SEC (U.S. Securities and Exchange Commission) approved Bitcoin spot ETFs.
5. Augmented Reality and Virtual Reality: These technologies will continue to grow, especially in sectors such as entertainment, education, and training, as well as in industrial and health applications.
This is the year when Apple’s Vision Pro hit the market with the proposal to interact with a mixed reality, and it is rumored that in just 10 days on sale, 200,000 units have already been sold. The competition of this product with existing ones, Quest 3 from Meta, and PSVR from Sony, promises to energize the market.
6. Edge Computing: With the proliferation of IoT devices and the need for real-time data processing, significant growth is expected in edge computing, bringing processing capabilities closer to the data source.
In a present where smart cities are a bet, edge computing allows the implementation and optimization of technology in our environment, such as autonomous vehicles, sensors that detect air quality and trigger actions to improve it, or traffic supervision and its efficient management.
7. Advanced Robotics: The development and evolution of other technologies, such as AI, and their application in the field of robotics will result in advanced robots, both in industry and domestic environments.
These robots are capable of performing complex tasks or making decisions, unlike traditional ones that automate tasks. One of the most well-known is Spot, a dog-like robot designed by Boston Dynamics. There are also human-like robots, such as Tesla’s Optimus.
8. Quantum Computing: A nascent field where investment and research will continue in 2024 as it promises the resolution of complex problems more swiftly than conventional machines.
According to the State of Quantum 2024 Report by IQM Quantum Computers, OpenOcean, and Lakestar, in collaboration with The Quantum Insider (TQI), governments of over 30 countries have announced public investment commitments to this technology, which will enhance its development. Our country will have a significant role in this regard as IBM will locate its quantum computer in the Basque Country.
The future is unpredictable, yet all signs indicate that the scenarios technology advances will bring are bound to be fascinating. Time will reveal the challenges and opportunities that lie ahead, and without a doubt, the next edition of VDS will address and analyze these trends.
