Tech experts are forecasting significant changes in the technology landscape for 2024. Some of the key predictions include a shift in generative AI from large language models to smaller and open source models, AI supporting and teaching coders new skills, a longer lifecycle for iPhones, and the impact of satellite-powered services on IoT devices and smartphone users.
Generative AI: Smaller, more focused, and open source
The consensus among experts is that there will be a shift towards smaller and more cost-efficient generative AI models. While current large language models (LLMs) will remain popular, the focus is expected to move towards smaller models that can run on hardware with more limited processing capabilities such as laptops or smartphones. This shift is seen as making generative AI more accessible and versatile, allowing organizations to build their use cases faster. Robert Engels, head of the Capgemini generative AI lab, also highlighted the use of knowledge graphs to improve accuracy and the potential for these smaller models to be domain-specific tools or sector-specific tools, with a greater focus on sustainability and precision. Open source models are also expected to play a more prominent role in the emerging technology.
Artificial Intelligence’s $10 Billion Revenue Surge for Enterprise Software Companies
Deloitte has predicted a $10 billion revenue boost for enterprise software companies by the end of 2024, as they integrate AI into their offerings to provide knowledge workers with new tools for greater efficiency and better decision-making.
AI teaching coders new skills and supporting creativity
According to Werner Vogels, chief technology officer at Amazon, AI is expected to contribute to everything from code reviews to product strategy, supporting and teaching coders new skills. While AI is changing the landscape for software developers, AI assistants are seen as supporting, rather than replacing, human creativity.
Extended lifespan for iPhones
The anticipated longer lifecycle for iPhones suggests that smartphone users may not be as quick to upgrade their mobile devices as in previous years. This shift is attributed to the fact that older phones are nearly as capable as new ones, leading to a decreased incentive to upgrade. A prediction from analyst CCS Insight suggests that from 2024, the average life of an iPhone will be eight years, leading to an increase in the sale of pre-owned phones.
The rise of satellite-powered services and their impact on IoT devices and smartphone users
Private companies disrupting the space industry and operating in Low Earth Orbit are expected to offer new opportunities for emerging technologies. The increase in satellite constellations will impact the number of IoT devices using satellite bandwidth to connect, and an increase in the number of smartphones capable of connecting with satellite services is anticipated, opening up a wave of services for smartphone users.
Looking ahead: Sustainability and compensation
Environmental concerns and sustainability are expected to play a significant role in future technology trends. Tech analyst Gartner predicts that by 2027, 25% of CIOs will see their personal compensation linked to their sustainable technology impact.
In conclusion, the tech predictions for 2024 point to a shift towards smaller, more cost-efficient generative AI models, AI teaching new skills and supporting creativity for coders, a longer lifespan for iPhones, and the growing impact of satellite-powered services on IoT devices and smartphone users. These predictions highlight the potential for significant changes in the technology landscape in the coming years.
