Top Four Tech Trends to Watch in 2024 

We’re already more than halfway through the year, with several promising advancements still on the horizon. Key emerging trends are poised to shape the future in ways that seemed impossible just a decade ago. From revolutionary developments in artificial intelligence (AI) to significant strides in sustainable tech, these innovations will drive the industry forward and profoundly redefine how we live and work.  

Current technology movements reflect a dynamic intersection of innovation and practicality, driving considerable changes across industries. These trends collectively introduce us to a technological ecosystem that is more integrated, efficient, and accessible than ever before. At Oxford, we’re ready to embrace these trends to help grow your business. Reach out today to learn how we can customize a partnership to meet your needs and exceed your timelines and expectations, bringing you into the next generation of technology.   

Here are four trends your business should get ahead of in 2024: 

Embracing AI Tools More Effectively  

AI continues to thrive, with more companies starting to integrate AI tools within the workplace. AI novelties like generative AI are becoming more commonplace. Language models like GPT-4 have seen improvements in generating more coherent, contextually relevant, and human-like text, with better handling of nuances and more accurate responses. 

Reinforcement learning, hierarchical reinforcement learning, and meta-learning are all being applied more extensively, resulting in heightened performance. There has also been a push towards making AI models more transparent and interpretable. New techniques for explaining model decisions and understanding internal workings have been developed, addressing concerns about AI’s “black box” nature. Ethical AI frameworks are also a priority, ensuring responsible deployment, adherence to set standards, and mitigating biases. 

Plus, AI is more accessible and scalable than ever, pairing increased computational power with a robust selection of cloud-based AI services. It can also make a real difference in business processes. According to Salesforce, 81% of employees already using AI say it improves productivity and enhances workplace engagement and satisfaction.  

As a result, business executives are more motivated than ever to incorporate AI into the workflow, with urgency increasing 7x over the past six months. These executives (96% of those surveyed) now view the implementation of AI within the office as a top priority, ranking above inflation or other economic concerns.   

So, how can businesses use AI tools effectively to receive the full benefits? A Forbes Advisor survey showed that 46% of business owners use AI to create internal communications, and nearly all (97%) believe ChatGPT will help their business. The survey showed that businesses planned to use AI for the following tasks: 

• 73% for instant messaging (with AI-powered chatbots) 
• 61% to optimize emails 
• 55% for personalized services (e.g., product recommendations) 
• 49% to optimize text messages 
• 46% for personalized advertising 
• 42% for long-form written content 
• 36% for phone calls 

The 2024 State of Business Communication, prepared by Grammarly and The Harris Poll, presented 2024 as the year of better (not more) communication. In 2022, the report showed that workplace miscommunication resulted in $1.2 trillion in losses to U.S. businesses yearly. In 2023, communication efforts were rising, but communication effectiveness declined. Generative AI brings new solutions but also forces businesses to choose—this is the tipping point for many companies and their relationship with communication. 

The payoff is worth it, too, with effective communication leading to 64% increased productivity, 51% boosted customer satisfaction, and 49% raised employee confidence. With workers spending 88% of the workweek communicating, the report showed a $1.6 trillion annual savings in U.S. productivity for those workplaces that could effectively embrace AI for interactive tasks.  

Making Tech More Sustainable 

Sustainability is another major focus, with green technologies and renewable energy solutions becoming more integral to tech development. There will be a greater emphasis on developing energy-efficient devices and systems, reducing electronic waste, and promoting circular economy practices.  

A glaring misconception when making greener choices is that going digital or transitioning to the cloud solves the problem. In reality, it can exacerbate it. Data centers run hot, introducing the need for cooling systems.  

According to a publication as a part of the MIT Case Studies in Social and Ethical Responsibilities of Computing (SERC) series, data center cooling accounts for more than 40% of electricity usage. Research shows that a single data center can use electricity equal to the amount used in 50,000 homes. This gives the cloud a carbon footprint that combats that of the airline industry and accounts for 0.3% of all carbon emissions or 2% of global emissions if networked devices (e.g., laptops, smartphones, and tablets) are included. 

Due to their extensive cooling needs, data centers are also responsible for millions of gallons of water loss daily, prompting Google and other companies to initiate a “water positive” pact to go into effect by 2030. Data centers use cooling systems that rely on water-cooled chillers to keep servers operating within safe temperature ranges. These chillers use water to absorb heat from the equipment, and the warmed water is then typically cooled by evaporative cooling towers. The evaporation process requires a continuous fresh water supply, leading to substantial water consumption. 

Corporate pledges like the “water positive” pact and the Climate Neutral Data Centre Pact, agreeing to “climate neutral” data centers by 2030 and all of Europe by 2050, are a step in the right direction. However, they aren’t enforceable, meaning many companies might fail to keep their promise without regulatory incentives. 

Noise pollution and e-waste pose additional environmental concerns in our vastly connected world. The devastating effects of environmental noise on human health and ecosystems are often overlooked. However, according to AWE International, it can impact hearing, sleep, stress levels, and wildlife, and even contribute to declining populations. In addition, e-waste is rising, with Earth.org describing it as a “time bomb.” Despite the growing problem, the U.S. has a recycling rate of only 17.4%.  

Still, the Internet is one of the biggest contributors to digital waste, producing one billion tons of greenhouse gases. Research shows that 90% of data stored online is never reused, and 91% of webpages receive zero traffic, but the carbon footprint remains and is expected to double by 2025. Some predictions show that the Internet might be responsible for half of the world’s energy consumption and emissions by 2030.   

According to Forbes, 90% of executives think sustainability is important, but only 60% have developed a strategy to support it. This can lead to significant losses in the future for the environment and profits, as the renewable energy market is forecasted to surpass $2 trillion by 2025. Therefore, in 2024 and beyond, more companies will likely make concerted efforts to address the environmental consequences of digital pollution and demonstrate corporate responsibility by adopting heightened sustainability practices that resonate with eco-conscious individuals. 

Creating a Safer Tech Environment 

The potential for AI-driven cyber attacks complicates the security landscape as AI models become targets for exploitation, necessitating advanced detection mechanisms and substantial defenses to mitigate these emerging threats. National University in San Diego, CA, cited stats regarding recent cybersecurity threats, noting that generative AI is likely to be used for cyber activities in 2024.  

Generative AI first emerged as a cybersecurity concern in 2023. It can produce highly realistic and sophisticated content, which malicious actors can use to generate convincing phishing emails and deepfake audio or video. This makes social engineering attacks more effective and harder to detect.  

Additionally, Gen AI can aid in creating polymorphic malware that evades traditional security measures and programs the generation of exploits for identified vulnerabilities. It can also facilitate large-scale automated attacks, manipulate public opinion through disinformation, and circumvent authentication systems like CAPTCHA and voice biometrics.  

Interestingly, while AI presents Chief Information Security Officers (CISOs) with a new threat to protect against, it can also improve our digital safety, with 35% of CISOs surveyed already using AI to enhance security. Another 61% hope to use AI for security applications by 2025, and 86% believe that generative AI can help fill security gaps and talent shortages. 

However, while AI cybercrimes are rising, other cyber threats persist, and as some vulnerabilities are mitigated, others emerge, quickly changing the threat landscape. For instance, cloud environment intrusions increased by 75% in the past year, and in 2023, malware-free attacks accounted for 75% of detected cybercrimes involving identity. That is an increase of 13% from 2021 and 35% from 2019. Also, in 2023, cyber attackers mostly used edge gateway devices and other devices used to connect networks as their gateway to get into a network unnoticed.  

Malware and phishing remain credible threats, with email presenting significant vulnerabilities. Ransomware seems almost impenetrable to new technologies, claiming responsibility for approximately three-fourths of cybersecurity attacks in 2023 and costing businesses $176 million in the first half of the year, totaling more than all amounts paid in 2022. Plus, over 40% of the time, data is permanently lost.  

Overall, cybercrimes aren’t cheap. TechTarget shared annual average costs of cybercrime, showing expected total losses of $23 trillion in 2027, a significant increase from 2022 of $8.4 trillion. The cost includes monetary losses and time spent identifying and containing data breaches, which take security teams an average of 277 days.  

Combating cybercrimes comes at a cost, too. Statista states global cybersecurity spending is projected to reach $538.3 billion by 2030. Regardless of the price, cybersecurity trends must reflect the growing complexity of cyber threats, regulatory pressures, and the need for comprehensive data protection.  

Cybersecurity measures in 2024 include: 

• Advanced Threat Detection and Response with AI and Extended Detection and Response (XDR) 
• Zero Trust Architecture with Identity and Access Management (IAM) and Micro-Segmentation 
• Cloud Security with Cloud-Native Security Solutions 
• Secure DevOps (DevSecOps) 
• IoT Device and Edge Computing Security Solutions 
• Enhanced User Awareness and Training (e.g., phishing simulations and continuous education programs) 
• Regulatory Compliance (e.g., GDPR, CCPA, and other regional laws) and Data Privacy (e.g., encryption, data anonymization, limiting data access to authorized personnel only, policy implementation) 
• Automated Security Operations like Security Orchestration, Automation, and Response (SOAR) and AI-Driven Incident Response 
• Threat Intelligence Platforms (TIPs) and Collaborative Threat Sharing 
• Ransomware Defense and Detection Tools 
• Supply Chain Security (e.g., third-party risk management and secure software development) 
• Quantum-Resistant Cryptography (in preparation for quantum computing) 
• Cybersecurity Frameworks and Standards (e.g., NIST Cybersecurity Framework, ISO/IEC 27001, and CIS Controls) 

Democratizing Development with Low-Code/No-Code (LCNC) Alternatives 

Typically, businesses have two ways to achieve application development. One is to outsource by purchasing ready-made apps from an external vendor. The other is to start from scratch, using the expertise of developers and coders to build a customized app from the foundation up. Consequently, as more businesses worldwide shift to digital- and AI-driven enterprises, demand for skilled software developers has risen. 

Unfortunately, rising demand is met with a corresponding shortage of developers. According to SAP, even if the number of students pursuing an IT degree doubled, these specialized software experts would still be scarce in the modern global job market.  

With insufficient developers to fill openings, businesses risk longer search times, compensation increases, gaps in operations and services, and a lack of competitive growth. However, recent advances in the tech space can help businesses overcome the developer shortage challenge.  

LCNC development alternatives enable “software building for the masses,” per SAP. This means that, even without specialized training or experience, almost anyone can build an app; this trend will become quite common in 2024, with 65% of application development stemming from suitable LCNC alternatives.  

LCNC platforms are designed to make application building easy, requiring minimal to no hand-coding. Low-code platforms offer visual tools and pre-built components that allow developers and non-developers alike to create and deploy applications more quickly while providing the flexibility to add custom code when necessary. Non-developers might still need business-savvy and coding knowledge to pull off this task effectively. Still, its graphical approach to building apps makes it an efficient option.  

Examples of low-code platforms include: 

• Microsoft Power Apps 
• OutSystems 
• Appian 
• Mendix 
• Salesforce Lightning 
• Zoho Creator 
• Betty Blocks 
• Google AppSheet 

No-code platforms take simplicity a step further, enabling non-technical users, or “citizen developers,” to build applications entirely through drag-and-drop interfaces and configuration without needing any programming knowledge or ever writing a single line of code. With a user-friendly front end and assistance translating complex code on the backend, these platforms democratize software development by opening the door for anyone to undertake the project. No-code platforms can reduce the time and cost associated with traditional coding, allowing businesses to prototype, iterate, and deploy solutions rapidly.  

Examples of no-code platforms include: 

• Zapier 
• Bubble 
• Airtable 
• Glide 
• Thunkable 
• Webflow 
• Adalo 
• Appgyver 
• Wix 
• Squarespace 

Oxford Can Help 

Oxford just celebrated 40 years of providing professional services to clients worldwide. When it comes to tech trends, Oxford is ahead of the competition. We like to look forward, bringing businesses into the future. Our consultants have the knowledge and expertise to keep your organization updated on the latest developments.  

When you partner with Oxford, you will receive custom results fast. We pride ourselves on meeting companies’ unique needs with speed and efficiency. At Oxford, we work alongside you to deliver The Right Talent. Right Now. You can trust us to contribute to your corporate success. Contact us today to get started on your digital transformation.