What will be the key technology trends of 2024?

In the tech world, 2023 will probably be remembered as the year that generative AI became mainstream.

7 mins read
What will be the key technology trends of 2024?

From computer software to art and articles, generative AI systems, while not perfect, have quickly become an essential tool for some industries and businesses, producing a variety of content.

With the launch of Microsoft-backed ChatGPT at the end of 2022, there are many new competitors in the field.

One of the most important developments in this area was this month when Google’s parent company Alphabet unveiled Gemini, an artificial intelligence model that will be integrated into Google’s various products, including its chatbot and search engine.

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But OpenAI, the maker of ChatGPT, says it is not sitting idle. It promises that a more powerful version of the software will arrive in 2024.

At a software developer conference in November, OpenAI CEO Sam Altman said, “What we’re launching today may look quite different compared to the product we actually made for you.”

Meanwhile, investors continue to pour money into the industry in the hope of finding the next big player,

According to PicthBook, which keeps private investment data, venture capital firms invested $21.4 billion in productive AI startups as of the end of September.

The total investment for the benchmark in 2022 was $5.1 billion.

But there are those who warn that this won’t take us very far. Ben Wood, Principal Analyst at CSS Insight, says that productive AI will take a “cold shower” in 2024:

“We think it’s a bit overdone, there are a few obstacles that will cause it to slow down in the short term.”

Wood points out that the costs of developing and running a productive AI system are very high. The systems require high processing power and expensive computer chips, which are currently in short supply.

To reduce these costs, he predicts that some of the processing of AI during its operation will move to hybrid systems, where some of the processing is done locally on your laptop or computer.

Wood also predicts that regulation and legal battles may cool the craze for productive AI:

“Firms could find themselves in a situation where they have invested tons of money in AI-based services but have to pull some of it back to make it compliant with regulations”.

Electric shock

According to the Schmidt automotive research company, the one millionth electric car will be on UK roads in the first quarter of 2024. This will make the UK the second country after Germany to pass this milestone.

However, 2024 is also expected to be a difficult year for electric vehicle manufacturers.

At the end of 2023, Ford, GM and Tesla suspended plans to expand their electric vehicle production. In October, Mercedes-Benz described the EV market as “brutal”, citing price competition and supply chain issues.

Analysts do not expect a major improvement in the situation.

Automotive Market Analyst Matthias Schmidt predicts that electric vehicle sales will stall next year across Europe. Schmidt predicts no growth in countries where the market is traditionally strong, such as Germany and Norway.

However, the UK may be in a more optimistic position due to the zero emission vehicles (ZEV) mandate. From January, at least one-fifth of all vehicles sold must be electric, with the aim of increasing this to 80 percent by 2030.

All this is good news for those who can afford an electric car.

“At a time when manufacturers are trying to meet ZEV targets, there will be a buyers’ market, especially for electric cars,” Schmidt said.

“But the cuts will be hidden in financing and higher levels of hardware that can be obtained at no extra cost, as manufacturers are reluctant to be too open about price cuts,” he says.

Humanoid robots

Humanoid robots could become more useful next year. Tesla engineers hope that their humanoid robot called Optimus will do basic factory work in the near future.

A video released earlier this month showed the latest version of Optimus, lighter than the previous machine, with new hands and powered by new engines.

In July, Musk said Optimus would be capable of working in a Tesla factory in 2024.

“In terms of making things work, we will first try it in our own factories and prove its usefulness. Only next year I think we will be able to make things work in our factories. I say this with high confidence.”

Tesla has many competitors when it comes to humanoid robots. Some companies are still developing robots that learn everyday tasks.

Amazon is testing humanoid robots in its warehouses. The robot, called Digit, can move, hold and interact with objects like a human.

The robot’s developer, Agility Robotics, hopes to deliver Digit to customers next year.

On the other hand, the Canadian Sanctuary AI company is training its robot Phoenix to perform specific tasks such as packaging. In 2024, it is planned to increase the number of jobs Phoenix can do.

Weight loss race

In the pharmaceutical world, a treatment sells so fast that its manufacturer struggles to keep up with demand.

The weight loss drug semaglutide, relaunched under the name Wegovy, has been a huge success. Its manufacturer Novo Nordisk has become Europe’s most valuable company.

The Danish company is expanding its production facilities with billions of euros of investment to meet demand.

Wegovy is currently administered as a weekly injection, but a pill version is almost ready. Novo Nordisk does not say when this will be available.

The Danish firm may face more competition next year.

Eli Lilly’s Mounjaro was recently approved as a weight loss treatment in the US and the UK and is expected to be approved in the EU.

Pfizer, on the other hand, is also waiting for approval of its weight loss pill.


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