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In the ever-evolving world of technology, staying ahead of emerging trends is paramount. Let's embark on a journey through the tech trends of 2021 to 2023, examining how they've evolved and the prominent themes for each year.
Each year, Info-Tech Research Group publishes an in-depth report on the key current IT trends, based on an extensive global research survey. We will not only reflect on what was trending in 2021 and how it has evolved over the past three years, but look at the anticipated tech trends that are set to shape the year 2024.
Tech Trends 2021: Building Foundations
Machine Learning By Design: In 2021, machine learning took its first steps towards becoming an integral part of various industries. Fast forward to 2023, and it is now an omnipresent and indispensable technology across sectors, from personalised recommendations to autonomous vehicles.
Citizen Dev 2.0: The empowerment of non-developers through low-code and no-code platforms continued to gain momentum. As we assess the landscape in 2023, these platforms have grown even more sophisticated, making application development accessible to a wider audience.
Venture Architecture: The idea of building agile, scalable, and cost-effective IT infrastructures gained prominence in 2021. In 2023, businesses have embraced this approach as a fundamental strategy for adapting to changing market dynamics.
Distributed Autonomous Organizations (DAOs): In 2021, the concept of DAOs, self-governing entities facilitated by blockchain, started to garner attention. Today, they are increasingly prevalent, particularly in the realms of blockchain and decentralised finance.
Self Sovereign Cloud: The concept of self-sovereign cloud, while promising in 2021, hasn't yet achieved mainstream adoption. Traditional cloud services still dominate the market.
Digital Sustainability: The importance of reducing carbon footprints gained momentum in 2021. Sustainability now shapes the core of corporate agendas, driving eco-friendly practices.
Tech Trends 2022: Addressing Challenges
Human Resource Management – Hybrid Collaboration: The advent of remote and hybrid work models necessitated HR technology to adapt. In 2023, these technologies have become even more integral as flexible work arrangements persist.
Security Strategy – Battle Against Ransomware: In 2022, the fight against ransomware intensified as attacks became more sophisticated. The battle rages on in 2023, prompting organisations to bolster their security strategies.
Business Process & Internal Audit – Carbon Metrics in Energy: Carbon metrics integration into energy and business processes continued to gain traction. As sustainability becomes a critical concern, this trend remains highly relevant.
Data Architecture – Intangible Value Creation: In 2022, data architecture evolved to focus on creating intangible value, such as predictive analytics and customer insights. This evolution continues to shape data-driven decision-making in 2023.
Innovation – Automation as a Service: Automation as a Service (AaaS) revolutionised various industries by streamlining processes. In 2023, AaaS continues to transform sectors like healthcare and manufacturing.
Tech Trends 2023: Shaping the Future
The Metaverse: In 2023, tech giants heavily invested in the metaverse, a virtual and augmented reality space with immense potential. While the full realisation may take a few more years, it's undeniably a major trend.
Generative AI: Generative AI algorithms have made remarkable strides, enabling content creation and customisation across various domains, from art to writing.
Industry Led Data Models: Customised data models tailored to specific industries have gained prominence in data management and analytics, ensuring relevance and accuracy.
ESG Analytics and Reporting: Environmental, Social, and Governance (ESG) reporting has become central to corporate practices as sustainability and social responsibility took precedence.
Zero Trust Security: In an era of heightened cyber threats, the concept of Zero Trust Security has gained prominence, emphasising stringent security measures.
Recessions Preparation: Businesses have taken proactive steps to prepare for economic downturns, enhancing their resilience and adaptability in uncertain economic times.
So what of the year ahead?
Info-Tech Research has just published its 2024 report. Here's a summary of the anticipated trends:
Tech Trends 2024: Navigating New Horizons
AI-Driven Business Models: Artificial intelligence is transforming business operations by leveraging data analytics and automation for data-driven decision-making and enhanced customer experiences. It provides a competitive edge through adaptability.
Autonomised Back Office: The back office undergoes a substantial transformation as automation and AI technologies reduce operational overhead. Repetitive tasks, like data entry and financial processes, are handled more efficiently, freeing human resources for strategic roles.
Spatial Computing: Spatial computing, involving augmented and virtual reality, is merging the physical and digital worlds. It offers immersive experiences across gaming, education, industry, and healthcare by blending virtual and physical environments, fostering innovation.
Responsible AI: Ethical AI practices are paramount in 2024, ensuring fairness, transparency, and accountability in AI systems. Companies are implementing ethical guidelines and regulatory compliance to avoid bias and discrimination, enhancing public trust.
Security by Design: Security is no longer an afterthought but a proactive part of tech solutions from the development stage. This approach safeguards against evolving cyber threats, ensuring resilience and data protection.
Digital Sovereignty: Digital sovereignty gains significance in 2024, focusing on data ownership and control. It enables autonomy in data management, aligning with data protection regulations, and addressing data privacy concerns.
You can download the full report here.
Conclusion
As we reflect on the tech trends from 2021 to 2023, it's evident that some have matured and become central to the tech landscape. Machine learning, generative AI, the metaverse, ESG reporting, and Zero Trust Security have emerged as key trends, highlighting the ever-changing nature of technology and its transformative impact on our lives.
Looking ahead to 2024, we anticipate emerging frontiers such as augmented reality, quantum computing, and blockchain applications. These trends are influenced by the foundations laid in previous years, building on the advancements in machine learning and automation while embracing new horizons.
It's clear that the future of technology promises continuous innovation and transformation, shaping the way we experience and interact with the digital world.