Forbes Reveals 10 Trending Technologies Expected in 2024

MetaversePlanet December 14, 2022Last Updated: August 13, 2024

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Forbes has identified 10 technologies that are expected to trend in 2024 and will be fundamental to developments in the coming years.

As reported by HardwareHaber, significant advancements are anticipated in areas like the metaverse, Web3, and artificial intelligence.

The integration of decentralized data with blockchain technology is propelling Web3 to the next level. Concurrently, there is a focused effort to rapidly develop the metaverse universe and transform it into a robust economic ecosystem.

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1.ARTIFICIAL INTELLIGENCE WILL BE EVERYWHERE

Forbes Reveals 10 Trending Technologies Expected in 2024

According to an article published in Forbes, the use of artificial intelligence (AI) is expected to surge significantly and become more prevalent in 2024. AI is contributing to the creation of smarter products and services across various industries, a trend already evident in the retail market.

The article highlights that contactless and autonomous shopping and delivery are set to be a trend in 2023, alongside the development of products recommended by AI-supported algorithms. Payments for goods and services are anticipated to become more straightforward, and inventory management is expected to be streamlined thanks to AI.

It is also mentioned that online shopping with in-store pickup processes (BOPIS, BOPAC, BORIS) will gain widespread popularity in 2024. Additionally, there will be an increase in autonomous delivery initiatives.

2.METAVERSE, AR AND VR

Experts predict that by 2030, the metaverse will contribute approximately $5 trillion to the global economy. The year 2024 is highlighted as a foundational period that will shape the next decade’s advancements. The metaverse is expected to significantly accelerate the development of Augmented Reality (AR) and Virtual Reality (VR) technologies.

These technologies are poised to be utilized in corporate settings, allowing employees to enter a virtual shared space from their homes for meetings. Investment in this field is already underway and is expected to increase.

For instance, the consulting giant Accenture has developed a metaverse environment known as the Nth Floor. This virtual world features replicas of actual Accenture offices, enabling new hires and current employees to address their HR needs without the necessity of being present in a physical office.

3.WEB3 WILL PROGRESS

Blockchain technology is set to make significant advancements in 2024, as companies focus on creating more decentralized products and services. For instance, while we currently rely heavily on cloud storage, the shift towards decentralized data storage and encryption using blockchain will not only enhance the security of our information but also provide innovative ways to access and analyze it.

Non-fungible tokens (NFTs) are expected to become more functional and practical in the coming year. An example of this is the introduction of NFT tickets for concerts, which will come with added benefits. According to Forbes, “NFTs could serve as keys to interact with various digital products and services we purchase, or represent contracts we sign with other entities.”

4.BRIDGE BETWEEN THE DIGITAL WORLD AND THE PHYSICAL WORLD

The integration of the digital and physical worlds is becoming increasingly prevalent, a trend that is set to continue in 2024. This merger primarily involves two technologies: digital twin technology and 3D printing.

Digital twins can be described as virtual models of real-world processes, operations, or products, allowing for the testing of new ideas in a secure digital environment. It is anticipated that 2023 will witness an expansion in the use of digital twins across various sectors, including factories, machinery, automobiles, and precision healthcare.

One of the most prominent examples of this technology is found in Formula 1 racing teams. These teams create both the physical vehicle and its digital twin, conducting all tests within a digital environment. This approach offers significant advantages in terms of time and cost efficiency.

5.NANOTECHNOLOGY AND GENE MANAGEMENT

Future scenarios suggest that we are moving towards a world where it’s possible to alter materials, plants, and even human beings. In 2024, significant advancements are expected in the field of nanotechnology. Additionally, the application of CRISPR-Cas9, a technology that has been around for several years, is predicted to expand considerably.

The widespread use of gene editing is anticipated, with potential applications ranging from correcting DNA mutations to addressing food allergies, enhancing crop health, and even modifying human characteristics like eye and hair color. This progress represents a major step forward in the fields of biotechnology and genetic engineering.

6.QUANTUM TECHNOLOGIES WILL DEVELOP

There is a global race underway to develop quantum computing on a large scale. Quantum computing, which utilizes subatomic particles to forge new methods of processing and storing information, has the potential to power computers that could operate a trillion times faster than today’s fastest conventional processors.

However, quantum computing poses a significant risk in that it could render current encryption methods obsolete. As a result, any nation that excels in quantum computing technology could potentially break the encryption of other countries, businesses, security systems, and more.

This is a critical trend to monitor in 2024, especially as countries like the United States, the United Kingdom, China, and Russia are heavily investing in the development of emerging quantum computing technologies.

7.GREEN ENERGY WILL GO FURTHER

Currently, the world is grappling with two major challenges: the climate crisis and the need to curb carbon emissions. In 2024, continued progress is anticipated in the field of green hydrogen, an emerging energy source known for its near-zero greenhouse gas emissions. Major European energy companies, including Shell and RWE, have made significant investments in this area.

Alongside hydrogen, rapid advancements are also expected in renewable energy sectors, particularly in solar and wind energy. These developments are crucial for reducing reliance on fossil fuels and mitigating the impacts of climate change.

8.MORE HUMANITY ROBOTS

In 2024, robots are expected to become more human-like in both appearance and capabilities. These humanoid robots are set to begin their deployment in the service industry, including sectors such as hotels and healthcare. Furthermore, we are likely to witness an increase in human-robot collaboration, particularly in production and logistics.

In this context, it is mentioned that Tesla’s Optimus robot could be operational within the next 3 to 5 years. However, it is important to note that Tesla’s humanoid service robot will not be the only contender in this field. The year 2024 is expected to bring more investments and developments in humanoid robotics, indicating a competitive and rapidly evolving landscape.

9.AUTONOMOUS SYSTEMS WILL BE EXPANDED

Business leaders are anticipated to continue advancing autonomous systems, particularly in the realms of delivery and logistics. Many factories and warehouses have already achieved partial or full autonomy. By 2024, the presence of self-driving cars, ships, and delivery robots is expected to be more widespread.

The British online retailer Ocado has already automated the majority of its warehouse operations. Recognized for its success in this area, Ocado is poised to start exporting its autonomous technologies to other markets. This move is likely to set a global trend in the retail industry, reflecting a growing emphasis on automation and efficiency.

10.SUSTAINABLE TECHNOLOGY

In 2024, we can expect significant progress in the development of more sustainable technologies. Currently, all electronic devices rely on chips for operation, and the production of these chips involves the use of rare earth minerals, which are not in infinite supply.

Consequently, it is anticipated that in 2024, both companies and consumers will become more conscientious regarding resource utilization and energy consumption. This shift towards sustainability will likely be evident in practices and preferences related to the production and use of electronic items.