Whether you’re a businessman looking for a new technology for your startup or business idea or a tech enthusiast looking for a new tech skill to learn to give your career a boost in 2024, you’re at the right place. Here you’ll learn about the top 11 fast-growing technologies in 2024.
2022 has taught us many things. One of these things is that technology, if used right, can help improve our lives in numerous ways.
When banks, offices and practically everything else was closed due to the pandemic, it was technology that saved us from going insane.
We managed to survive the worst with the help of video calls, group meetings, digital money transfers, video streaming, and other tech solutions. And now when the worst is over, it’s time to upgrade ourselves to include the newest technologies in both our work and our life.
So, what are the new and upcoming technologies that are worth considering for those looking to create next-gen solutions as well as for those looking to upgrade their career skills?
Let’s find out.
Top 11 Emerging Technologies to Learn & Adopt in 2024
Emerging technology is something that has great future potential but is still vastly unexplored in terms of practical applications.
For instance, blockchain is a life-changing technology that can effectively disrupt not just finance but any industry that deals with digital transactions and security.
Even though people are aware of blockchain’s potential, its applications have yet to be realized, making it an amazing technology for anyone looking to upgrade their skills or plan to build future applications. makes.
So, here are the top 11 futuristic technologies with high potential that anyone can consider adopting for their next tech venture.
1. Blockchain & Defi:
Blockchain is probably one of the dearest technologies of today. After all, we badly need a system that is free of middlemen and intermediaries and is fully transparent. And blockchain offers exactly that.
Blockchain is a digital ecosystem that is managed solely through its users. There are no owners or intermediaries in a blockchain network.
It is a distributed, decentralized network consisting of thousands of nodes (computers) that are interconnected.
Every transaction in a blockchain network is processed and verified by all the nodes in the network, which means there is zero chance of failure or human error.
Also, the blockchain network is public and, therefore, fully transparent. It is not governed or managed by any single/centralised entity.
Blockchain technology has potential applications in a variety of sectors, including finance, digital security, voting, cloud computing, medicine, cross-border payments, identity security, cryptocurrency exchange, security tokenization, and more.
Along with blockchain, another system or technology that has emerged as a winner in modern times is DeFi, or Decentralized Finance, which refers to the use of decentralized technology such as blockchain in the finance market.
Possible Defi applications include peer-to-peer lending and borrowing, p2p investments, p2p shopping, and others.
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2. Artificial Intelligence (AI):
Artificial Intelligence is one of the technologies that we have all been hearing about for a decade or so, but even this technology has not been fully explored yet. There is so much you can do or create using AI (Artificial Intelligence).
Artificial Intelligence refers to the integration of intelligence (or the power to think) in machines. In other words, it’s the process of teaching machines to think and act like humans.
AI is going to be at the forefront of tech evolutions in the coming years. Experts estimate the AI market value to cross $400 billion by the next few years. AI can present itself as useful in a number of industries.
For instance, we have already been seeing mobile/smartphone devices inspired by AI that can learn from the user experience and adapt their offerings accordingly.
You can create your mobile app on AI, build a next-gen, AI-based trading & investment system, or create an AI-powdered trading platform. The opportunities are truly unlimited.
3. Virtual Reality & Augmented Reality (AR & VR):
AR & VR when first introduced about a decade back were expected to be game-changing innovations in the technology field.
Sadly, we are still very far away from seeing the mass application or utilization of these futuristic technologies.
As of now, Virtual Reality & Augmented Reality are mostly used in the fields of education and training (presentation), gaming, and entertainment, among others.
AR or Augmented Reality refers to the integration of real-world objects into the digital world for the better conveyance of information through text, graphics, audio, and other virtual enhancements.
VR, on the other hand, refers to the creation of a computer-generated artificial three-dimensional environment, with which a user can interact using electronic devices.
We are already seeing the use of AR & VR in the gaming, education, and entertainment industries.
There are now available VR devices from leading companies like Google and Apple. There are games being developed using AR and VR technologies, and it’s only the start.
As the growth of the internet is apparent, so is the probability of cyber threats. Cyber Security is the technology aspect that deals with the security of users and data from a range of internet threats such as hacking, malware, phishing, DoS attack, and others.
Cybersecurity is as important, or maybe more, as the internet itself. In the last decade or so, we have come across many cases of cybercrimes.
There are even designated police to handle such crimes related to cybersecurity. So, the need for cybersecurity is apparent and so is the need for applications and platforms that deal with cybersecurity.
Whether you are looking to build your business on next-gen technology or planning to learn new technology to upgrade your career, Cyber Security is one of the best options today.
5. 5G Network:
5G, which stands for 5th Generation mobile network technology, is an upcoming technology that will offer the internet at a faster speed with the ability to connect multiple devices at a single hub and the same time.
The 5G technology is almost here, which makes it the best time to start creating applications or next-gen solutions on 5G.
The 5G technology when combined with other state-of-the-art techs such as robotics and IoT can present numerous business opportunities.
It will boost the performance of IoT networks by providing a more stable and high-performance internet connection.
Other possible use cases include 5G cloud robotics, machine remote control, autonomous vehicles, industrial automation, and more.
Depending on your particular expertise or industry, you can start building 5G applications to help your customers and boost your business growth.
6. IoT (Internet of Things):
Internet of Things (IoT) is a term coined first in 1999, which refers to a network consisting of a variety of physical objects.
In the modern world, that network is often referred to as the internet connecting multiple devices and, therefore, allows different devices in the same network to communicate (for the purpose of exchanging data) with each other.
The best modern example of IoT would be Smart Homes, where multiple objects or devices such as TV, refrigerator, smartphone, AC, etc.
Are connected through the home network (internet) and can be controlled using a common interface, both through physical means and voice guidance.
IoT is one of the biggest technology revolutions of our time. It has numerous applications in a variety of niches. If realized properly, it can make processes more effective and cost-efficient.
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7. Machine Learning (ML):
Machine Learning is similar to AI. However, instead of focusing on developing smart machines (with the ability to think), ML deals with creating the ability for machines to learn from past data.
In other words, it allows machines to automatically learn new things and adapt themselves using past data and/or experiences.
Machine Learning has huge scope in a range of sectors, including medicine, finance, image recognition, speed recognition, education, classification, traffic prediction, product recommendation based on purchase history, e-commerce, pattern recognition, data analytics, and others.
For instance, a machine or program can be developed that can provide product recommendations to the user based on his/her past purchase history.
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Fintech is another revolutionary technology that we have been blessed to know about in the last decade.
The term ‘Fintech’ is an amalgam of the words finance and technology, and refers to the use of the latest technologies to improve the way financial transactions are carried out and/or managed.
The latest and most common applications/examples of Fintech include cryptocurrency (digital currency), global payment transfer (PayPal, etc.), UPI, internet banking, etc.
All these applications deal with the use of technologies like blockchain and UPI to make digital payments faster, more affordable, and more secure.
The good thing is that there is still a lot more to achieve in the Fintech industry, and the opportunities to build new solutions and apps inspired by Fintech are numerous.
For instance, you can create a digital payments app like PayPal but use cryptocurrencies as the default way of payment.
To know more or to build your own next-gen mobile app on Fintech, explore our Fintech development services & solutions.
9. Cloud Computing:
The Cloud Computing is a rather old technology and has been around for some years now, yet we decided to include it in our list of the top 11 high-potential technologies for 2024 because we believe cloud computing is a futuristic technology and still has miles to go.
It refers to the availability and use of computer resources over the internet (cloud).
It allows users to access and use state-of-the-art computing facilities without the hassle of managing them. It’s like renting the computer power on the cloud for a fee.
Besides data storage, cloud computing can be used for a range of purposes, including easy & secure communication, team meetings, live training, distance learning, real-time collaboration, social marketing, and more.
If you have an idea for a business that can run on the internet and will benefit from secure, low-cost cloud computing or storage, Cloud Computing is for you.
10. Voice Assistance:
Voice assistance software and platforms are highly popular these days. With big companies like Amazon (Alexa), Microsoft (Cortana), Apple (Siri), and Google having their own Voice Assistant programs, people using all these platforms now have the ability to send commands using voice.
Voice-based commands are easier and faster to execute. Now, you can make a search on Google using your voice, ask Alexa to play a particular song for you, and much more. Basically, it’s a revolutionary technology with huge opportunities for everyone involved.
AI-driven voice assistance can also be used for analyzing user experience and providing personalized services accordingly.
So, there is huge scope for companies and entrepreneurs that want to build their next applications on Voice Assistance. Also, it’s a cool enough technology for tech enthusiasts to learn for career upgrades in 2024.
11. Green Technologies:
Green technologies are known as green and sustainable technologies that are good for the environment & contain less carbon, are on the rise and are poised to dominate the future of the world.
The following green technologies that aid renewable energy supply are Solar Photovoltaic Technology, Wind Energy Technology, Geothermal Technology, Wave Tide and Ocean Energy Technologies, Renewable Hydrogen Production Technology, Fuel cells, Energy Storage, Smart Grids and Hybrid or Dual Use Concepts (e.g Agri Voltaics photovoltaics, BIPV etc,) Solar Thermal and Passive Solar Applications, Hydro Power and Pumped Storage, and Distributed Generation. You can adopt these technologies in your business to reduce your carbon footprint and create a positive image of your business.
I hope you like our list of the top 11 fastest-growing technologies for 2024 & beyond. The technology paradigm is shifting very fast, and if you want to keep up with it, make sure that your business is utilizing the latest & the best modern technologies.
Technology has always been an integral part of our lives, and its role in our overall growth is only going to increase in the coming future.
It is only by accepting the new technology evolutions and adapting ourselves and our business processes according to them that can we ensure optimal future growth.
If you have more questions or would like to recommend another fast-emerging technology to add to our list, feel free to write in the comment section.
For all your mobile app development, web design, and web development needs, you can call us at SAG IPL. We are famous for offering high-quality & results-driven development services at the best rates in the market.