Top 10 Technology Trends in coming three years, from 2024 to 2026
What’s next for driving changes?
By this year end, it’s interesting to consider what the top technology trends in the coming three years (2024 to 2026). This helps us prepare for these potential opportunities. These trends are listed and explained as follows:
Trend 1: Generative AI, done
Trend 2: Sustainable Technology, done
Trend 3: Cybersecurity, done
Trend 4: Quantum Computing, done
Trend 5: Data Science & Machine Learning, done
Trend 6: Web 3.0 & Metaverse
Trend 7 : Automation
Trend 8: Autonomous Vehicles, done
Trend 9: 5G and 6G Technologies, done
Trend 10: Bio-technology, done
Trend 1: Generative AI
Generative Artificial Intelligence (Gen. AI) will definitely one of the most interesting technological trends in coming years. Generative AI refers to a class of artificial intelligence systems that are designed to generate contents, whether it be text, images, audio, or other forms of data. These systems use machine learning techniques, particularly deep learning, to understand and replicate patterns within the data they are trained on. One prominent type of generative AI is based on generative models.
The recent developments in this trend include ChatGPT by OpenAI in 2022. This also triggered a dramatic increase in investor interest in Generative AI related companies or startups.. For example, Nvidia’s stock price rose dramatically in 2023. The overall Generative AI related companies out-performed the broad market substantially. Gartner projects A.I. will generate 10% of all data by 2025. It makes 2024 a year of major growth. It is expected to be an increasing trend.
Other technology giants like Microsoft, IBM, Amazon, IBM, Google, Alibaba, Baidu and Salesforce are joining the game and have made strong progress in this space. Startups like AlphaSense, Jasper, Hugging Face, AlphaSense, C3 AI, DeepMind, Databricks, Synthesis AI, Stability AI, Lightricks and Inflection are potential ones in this area.
Generative AI technology would induce breakthroughs and changes to the economy. According to Goldman Sachs’s report, Generative AI could increase Global Gross Domestic Product by 7% in the coming 10 years (2024 to 2034) and bring significant impacts on society and people.
Trend 2: Sustainable Technology
This trend includes green technology and climate technology. It’s also being highlighted as one of Gartner’s top strategic technology trends. Sustainable technology is a framework of digital solutions that drive Environmental, Social and Governance ESG outcomes.
Sustainable technology, also known as green or clean technology, refers to the development and use of products, processes, and services that have a minimal impact on the environment, both in their production and consumption. The goal of sustainable technology is to meet the needs of the present without compromising the ability of future generations to meet their own needs. This involves considering environmental, social, and economic factors in the design, production, and use of technology.
Gartner predicts that by 2027, 25% of Chief Information Officer CIO compensation will be linked to sustainable technology impacts. Harvard Business Review reports that saving the earth from ecological disaster is a $12 trillion opportunity. This is true even if we meet just four out of 60 sections, including food and agriculture, cities, energy and materials, and health and well-being.
Thinking about the sustainable development goals in coming years, it’s expected to be at the forefront including electric vehicles, sustainable home and business construction, green and clean energy, agricultural technologies and carbon capture.
Google, Apple, Meta, and Amazon have launched their initiatives to be more sustainable enterprises. Companies like Nestle and Unilever are widely admired when it comes to sustainable measure-taking. Unilever increased its market cap threefold in the past 10 years by being a carbon-neutral-friendly company. Other companies like are other public corporations that have taken initiatives to be considered as ESG-friendly companies.
Top startups in this field include Amp Robotics, Aurora Solar, Oxford PV, Verdigris, Grow a Wish, Carbon Clean Solutions, Blue Planet, Heliogen, Grove Collaborative, Agricool, TIPA, Genecis, and Source.
Trend 3: Cybersecurity
Cybersecurity Ventures expects the cost of cybercrime to reach $10.5 trillion by 2025, indicating the importance of cybersecurity for businesses. In the face of this fast-growing threat, cybersecurity solutions designed to strengthen defences and provide us with a fighting chance are on high demands for enterprises. Cyber-attacks are becoming more sophisticated, so competition to bring new solutions leveraging breakthrough technologies like A.I. to market is intensifying.
It’s expected that cyberattacks will likely become more complicated and intensive, employing A.I. to enhance defensive strategies. The proliferation of connected devices is expected to exacerbate security concerns, given their inherent vulnerabilities. Experts anticipate that generative A.I. will play a key role in this changing landscape.
We will likely see the emergence of stringent cybersecurity regulations across the globe. As governments and major entities intervene more than ever, companies will need to navigate a complex maze of rules in their efforts to bolster their defence mechanisms. I believe that 2024 will be a year in which technological advancements in cybersecurity will intertwine deeply with regulatory, human, and A.I.-driven perspectives.
Automated threat management, cloud security, zero-trust architecture, identity management, behavioural analytics, cyber governance, endpoint protection, cybersecurity-as-a-service, blockchain security, and cybersecurity mesh will remain top cybersecurity innovations in 2024.
Key companies in this field include CrowdStrike, Zscaler, Okta, SentinelOne, Palo Alto Networks, Fortinet, Splunk, Akamai, and McAfee are some of the top global public company leaders. Startups including Cyware, Lacework, Deep Instinct, Orca Security, GitGuardian, Snyk, Abnormal Security, EclecticIQ, Tanium, Nozomi Networks, and Claroty will continue to lead cybersecurity innovation in coming years.
Trend 4: Quantum Computing
Quantum Computing will dominate large-scaled computing in the coming decade. It will find applications in compute-heavy areas such as artificial intelligence, cloud computing, cryptography, big data, genome sequencing, meteorology, material science, optimisation of complex systems and financial modelling etc.
Quantum Computing has long been the stuff of science fiction, and in coming three years, it is going to be a reality. This emerging technology has the potential of evolving computing power, enabling us to solve more sophisticated questions at a previously unimaginable speed and scale. According to Fortune Business Insights, the quantum computing market is projected to grow from $928.8 million in 2023 to $6.5 billion by 2030, with a CAGR of 32.1 percent during the forecast period.
IBM unveiled its most powerful 433 qubit processor quantum computer, named “Osprey,” at the IBM Summit in 2022. IBM is planning to release a new 1,121-qubit Condor processor soon. It will be the first on the planet to exceed 1,000 qubits. An Australian startup called Q-CTRL is a highly potential one which integrated their technologies with IBM, aiming to drive the applications on Quantum Computing in the market.
IBM, Microsoft, D-Wave Systems, IonQ, Rigetti, Intel, Honeywell, Google, Alibaba Group, Nvidia, and Baidu are some of the leading public company players in the quantum computing sector. Top startups in this sector include Q-CTRL, Pasqal, QC Ware, Zapata Computing, 1QBit, ColdQuanta, Atom Computing, and PsiQuantum.
Trend 5: Data Science & Machine Learning
Data science will continue to be a rapidly evolving field with several ongoing trends like AI and Quantum Computing. The use of Artificial Intelligence AI and Machine Learning ML techniques within data science has been a significant trend. This includes the development of advanced algorithms, predictive modelling and automated decision-making systems.
- Explainable AI (XAI): As AI and ML models become more complex, there’s a growing emphasis on making these models interpretable and explainable. Understanding how these models arrive at specific conclusions is crucial for their ethical use.
- Data Ethics and Privacy: With increasing concerns about data privacy and ethical considerations, there is a growing focus on implementing robust data governance practices and ensuring ethical use of data.
- Automated Machine Learning (AutoML): The development of tools and platforms that automate the machine learning pipeline, from data preprocessing to model deployment, to make data science more accessible to non-experts.
- Natural Language Processing (NLP): The application of NLP in data science has seen substantial growth. This includes sentiment analysis, language translation, and the processing of unstructured text data.
- Advanced Analytics and Business Intelligence (BI): There is an increased integration of advanced analytics and BI tools to provide actionable insights to businesses. This involves the use of dashboards, data visualisation, and interactive reporting.
- DataOps: Inspired by DevOps, DataOps emphasises collaboration and communication between data scientists, data engineers, and other stakeholders to streamline the end-to-end data lifecycle.
- Quantum Computing: Although in its early stages, the exploration of quantum computing’s potential in solving complex data science problems is gaining attention.
- Responsible AI: The emphasis on responsible and ethical AI practices, including fairness, accountability, and transparency, is growing. Organisations are increasingly aware of the social implications of their AI applications.
Snowflake is a cloud-based data warehousing platform that enables organizations to store and analyze large volumes of data. It has gained popularity for its scalability and ease of use. Palantir specializes in big data analytics and is known for its platforms that help organizations make sense of complex and large-scale datasets. It has been involved in various industries, including government, finance, and healthcare. DataRobot focuses on automated machine learning, providing a platform that allows organisations to build and deploy machine learning models quickly. It aims to democratise AI and make it accessible to non-experts. Alteryx provides a platform for data blending and advanced analytics. It aims to simplify the data preparation process and empower analysts to build predictive models without extensive programming. C3.ai focuses on enterprise AI applications, offering solutions for industries such as energy, manufacturing, and healthcare. Their platform is designed to accelerate digital transformation through the use of AI. RapidMiner provides an integrated data science platform for building and deploying machine learning models. It offers a visual workflow environment for data preparation, modelling, and evaluation.
Trend 6: Web 3.0 and the Metaverse
In coming three years, Web 3.0 will gain further traction, opening avenues for new technologies, specifically the metaverse and other virtual worlds built for gaming, training, social interactions and business. Web 3.0 will push for the rapid adoption of the Metaverse across businesses as users expect to have a more personalised and rewarding online experience.
The digital frontiers of the Metaverse, Virtual Reality (VR), and Augmented Reality (AR) are poised for transformative advances. Propelled by affordable, advanced headsets, the VR and AR sectors are ready to expand; meanwhile, the Metaverse, a collective virtual shared space, is anticipated to redefine digital interactions.
From education to entertainment, immersive experiences will revolutionise learning, human-machine interaction and gameplay. Meanwhile, AR will innovate sectors like healthcare with precision diagnostics and retail with virtual showrooms. Generative A.I. is likely to enable tailor-made content creation within these realms. The convergence of VR, AR, Metaverse and Generative A.I. is likely to blur the lines between the physical and virtual life, creating a future dictated only by our imagination and creativity.
Trend 7: Automation
Industrial automation will continue to grow and innovate, driven by the convergence of the internet of things (IoT), edge computing, A.I., machine learning, and 5G/6G. In coming three years, we expect more predictive maintenance, real-time monitoring, interconnected shop floors, automated inventory control, real-time data analysis for logistics optimization, and demand forecasting with A.I. algorithms. Artificial intelligence, robotics, optimized logistics, streamlined transportation, and workflow automation will reduce timelines as well as costs. Innovations in supply chain management technologies, such as paperless transportation documents, will accelerate the flow of goods and reduce costs.
ABB, Denso, Siemens, Emerson Process Management, Rockwell Automation, Honeywell Process Solutions, Schneider Electric, Microsoft Supply Chain Platform, Yaskawa Electric, AWS Supply Chain, and Omron Automation are leading supply chain automation players today and will be innovating in 2024.
We will also experience automation to transform the modern workplace in 2024. Workplace automation will reduce inefficiency and redundancy and transform remote and hybrid work. From routine administrative tasks to complex decision-making processes, automation is streamlining operations and boosting efficiency. Gartner reports that by 2024, organisations will lower operational costs by 30 percent using hyper-automation.
UiPath, Salesforce, ServiceNow, Cognizant, DocuSign, and SAP are some of the top companies that have contributed to workplace and business automation.
Trend 8: Autonomous Vehicles
Autonomous Vehicles, one of the most exciting emerging technologies (requiring super big investment capital), are set to transform transportation in 2024 further. By eliminating the need for human drivers, autonomous vehicles are expected to improve safety, reduce traffic congestion, and increase mobility for millions of people in long run.
We expect to see autonomous vehicles advance further in sensor technology, machine learning, and connectivity. This will enable the vehicles to navigate complex environments and interact with other vehicles and infrastructure in real time, paving the way for a future where driving is no longer the norm.
One of the most promising applications of autonomous vehicles is in the field of mobility services. By providing on-demand transportation that is safe, efficient, and cost-effective, autonomous vehicles could help improve accessibility and mobility for people who are currently underserved by traditional transportation systems. It’s an innovative business model which can also drive the adoption of Autonomous Vehicles.
Companies leading global autonomous driving technology include Tesla, Rivian, Zoox, May Mobility, Momenta, Pony.ai, General Motors, Nvidia, and Waymo (acquired by Google). According to Global Data’s recent prediction, the autonomous vehicle (AV) industry will not develop a fully self-driving car until 2035. However, we already see that GM-backed Cruise and Google-run Waymo have released fully automated robo-taxi fleets in San Francisco and in other U.S. states. I expect that 2024 will be a good year to watch the progress in this area.
Trend 9: 5G and 6G Technologies
5G and 6G technologies are expected to evolve and change the business landscape. A key factor is that the IEEE’s amended standard is expected in May 2024. It will provide device manufacturers with design specifications to govern interoperability and performance. It’s important that 6G is not yet a functioning technology. While some vendors are investing in the next-generation wireless standard, industry specifications for 6G-enabled products remain years away.
But 5G networks are enabling faster and more reliable connectivity. These are the latest generation of wireless technology, offering faster speeds, lower latency, and more reliable connectivity than in the past. With the ability to handle massive amounts of data at lightning-fast speeds, 5G networks still have the potential to revolutionise the way we are using technologies.
We can see that 5G networks will become even more prevalent in coming years, with advancements in areas such as edge computing, Internet of Things (IoT), and Virtual and Augmented Reality VR and AR. This enables 5G networks to become more intelligent and capable, providing faster and more responsive services to users along the way.
One of the most promising applications of 5G networks is in the field of Virtual and Augmented Reality VR and AR. With the high-speed connectivity provided by 5G networks, users can experience immersive and interactive virtual and augmented reality environments with ease.
Trend 10: Bio-technology
Bio-technology is still an emerging field that combines biology and technology to create new products and processes that improve human lives. From health care to agriculture, biotechnology has the potential to evolve industries and solve some of the world’s biggest challenges. In coming three years, we expect to see biotechnology become even more advanced, in areas such as gene editing, synthetic biology, and personalised medicine.
It’s expected to see several significant areas of biotechnology to grow: personalised medicine, gene editing and Crispr diagnostics, machine learning and A.I., stem cell technology, tissue engineering and bio-printing, big data and drug research etc.
Thriving startup Strand Therapeutics is developing the first platform for creating programmable, long-acting mRNA therapeutics capable of delivering potentially curative treatments. 23andMe offers DNA analysis with easy-to-understand results, while Color is a health care delivery platform that offers cancer prevention, screening programs, and health care services.
In addition to health care, biotechnology can transform industries such as agriculture and energy by developing new crops and fuels that are more efficient and sustainable. It’s clear that biotechnology is set to become an increasingly important technology trend, providing new solutions to some of the world’s biggest challenges.
