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Tech Forecast for 2024

The Tech Forecast for 2024
With January not even finished, many technology experts have already made bold predictions for the technological advancements that will occur in 2024. The prior years saw the introduction and widespread use of ChatGPT and AI generated content with increased concerns for user privacy. Let’s explore the predictions for technology for this year.

AI Will Be More Influential Than Ever
With AI quickly becoming dominant in business impact, some experts predict a continuation of this trend as there will be several AI apps set to open to app stores for 2024 as almost one-hundred million users were using AI apps in America in 2023. Along with that, AI videos are set to be created that utilize generated text from the user to create instant videos tailored to the users’ desires. AI may also be increased in its use to ensure equity when conducting layoffs and hiring candidates through reducing algorithmic bias. With the EU set to enact its AI legislation this year, 2024 will see how effective their landmark AI legislation would be.

The Rise of Small Language Models
With AI leaving a big carbon footprint on the environment, small language models possess an advantage in promoting sustainability and expense costs. Additionally, small language models have lesser requirements to fully function and have faster speeds. Small Language Models share an advantage in the fields of finance and entertainment as these custom language algorithms enhance business value that help tailor to one’s specific needs. The unique qualities of Small Language Models can prove to be attractive for businesses in 2024, potentially raising its use.

Combating Cybercrime While Enhancing Cybersecurity
In addition to the expected notable advancements in AI, cybersecurity will face a test among the community. The anticipated number of hacks is expected to grow with the proliferation of AI. In fact, cybersecurity is expected to cost almost $10 Trillion for this year alone. With many businesses moving forward to enhancing their security, password authentication is expected to increase and passkey technology would further be embraced by companies as this type of technology allows users to use their fingerprints or a simple code to get through an app. Companies are expected to face more accountability if breaches occur as additional attempts by government organizations will further investigate businesses to evaluate if there was a lack of responsibility.
All in all, 2024 will continue to see AI enhancing its impact on hundreds of millions of people around the world as users would deal with widespread AI tools that seek to enhance mobile apps. Small Language Models can gain further traction with their advantage in sustainability and cheaper costs. Furthermore, cybercrime is predicted to intensify while many companies and governments are realizing the importance of cybersecurity.