The next 12 months should usher in several significant changes across the tech world. So what should we expect?
As we move into 2024, the tech world seems to be at something of a crossroads.
With an expected 60+ national elections on the horizon, including major contests in some of the world’s most powerful nations, the tech industry will play a crucial role in shaping responsible public discourse.
From Google’s Privacy Sandbox to the still-much-anticipated explosion of metaverse platforms and experiences, there’s plenty that could end up shaping 2024.
Furthermore, McKinsey estimates that AI will contribute $13 trillion to the global economy by 2030 as it spreads across different industries.
Here are just a few areas that we think you should keep tabs on this year.
Regulatory crackdown on Big Tech
Regulators around the world are battling to regain control over industry giants Alphabet (Google), Amazon, Meta, Microsoft, and Apple.
There is a growing belief that increased regulation of the biggest tech players will create a more competitive, innovative, and ethical environment, one that prioritizes individual rights and consumer protection.
As these debates continue, it’s important to strike a balance between effective regulation and stifling innovation.
The ultimate goal should be to create a regulatory framework that promotes a fairer tech ecosystem that benefits consumers and businesses alike. However, this is easier said than done.
With several global elections and major lawsuits popping up around the world, it may well be a challenging year for the most prominent names in the tech world.
Artificial Intelligence (AI) deepening its integration into Western society
The last few years have seen AI dramatically streamline workflows, and we’re now at the stage where the technology is starting to free up our time at work.
Although this incredible growth does come with some potential risks, AI’s ability to remove arduous and boring tasks from our lists is surely something to look forward to, allowing people to focus on more creative and strategic endeavors.
ChatGPT is perhaps the most prominent example. Launched in November 2022, it reached 100 million users within just 60 days of its launch and is now said to be used by 92% of Fortune 500 companies.
In the creative world, the boundary between human and machine creativity continues to blur, from the advanced editing features of Google Pixel 8 – dubbed Magic Editor – to professional-grade software that leverages AI to transform images and videos and other media.
But while AI-powered tools have put artistic power into everyone’s hands – regardless of skill level – copyright issues mean that regulations will continue to evolve to ensure the responsible use and application of these tools.
Demand for true human authorship
While many people accept AI’s potential to improve our lives, there’s an inevitable downside to contend with too.
2023 saw a dramatic increase in “dud” websites, also known as unreliable artificial intelligence-generated news and information websites (UAINs), filled with generic text with no value or depth.
In response, a trend emerged with a renewed appreciation for human connection and authenticity. Results from one recent survey that reflected this shift showed that 72% of people stated they preferred to read content written by a human.
The recent growth of micro-influencers and the power of word-of-mouth marketing reflect a genuine desire for real-world recommendations and relatable voices.
Will this cause a shift in demand for keywords and SEO? Opinions are divided, but platforms such as LinkedIn have seen explosive growth in recent years, fueled by a hunger for genuine expertise instead of algorithmic curation.
Staying informed about misinformation
Discussions around image manipulation, privacy, and AI bias within photography are poised to take center stage in 2024.
Last year saw multiple stories fabricated from fake content, including a reported explosion at the Pentagon, Such stories can easily – and quickly – lead to devastating consequences.
With AI-powered editing tools, such as Photoshop’s Generative Fill, widely available, the line between reality and fabrication continues to blur.
The most obvious answer to this is in initiatives such as the Adobe-led Content Credentials. Several of these continue to grow in stature, and this should help improve overall transparency about how an image has been changed. And by increasing awareness of online manipulation and misinformation, greater demand for more ethical practices should follow.
More metaverse momentum
Excitement for virtual worlds and experiences continues to build in certain circles but the core challenges for the metaverse to expand are still in place. Will 2024 be the year it finally makes a real breakthrough?
Key hurdles, such as accessibility, user behavior, and privacy concerns, are undoubtedly the main reasons why widespread adoption has not yet properly taken place – much like the internet in its early years.
And yet, despite the arguments against it, and some already claiming Meta’s iteration has died a quiet death, many see huge potential in metaverse’s market potential.
Bloomberg predicts its value could reach $615bn by 2030, while McKinsey shoots higher by suggesting it could reach a lofty $5tn the same time frame.
With investments pouring in from the likes of Meta, Microsoft, and Epic Games, it does feel like we’re at a potential tipping point.
Even the World Economic Forum (WEF) is introducing “metaverse sessions” in a bid to democratize access to its events – especially for young adults and entrepreneurs.
Changes in online search
Following on from the metaverse, many people have already pointed out that the rise of alternative sources of product information, such as TikTok and the Internet of Things (IoT), could be a sign of the end of the default “I’ll Google it” mentality.
Already, almost 40% of Gen Z is using TikTok and Instagram, and with the ongoing antitrust scrutiny against Google, this shift could lead to a more diverse search landscape.
However, one of the most notable developments in this space is Google’s supercharged Search Generative Experience (SGE). This AI-powered feature holds the potential to deliver answers directly on the search page, potentially bypassing traditional websites.
This may pose some challenges for publishers and content creators, but it also has the potential to democratize access to information, making it easier for users to find what they need.
No cookies, no party
Google’s Privacy Sandbox hopes to create a better balance of ad targeting with user privacy, replacing the use of third-party cookies with new tools such as CHIPS and Topics API.
It’s been on the cards for a while and organizations should see it as a necessary shift towards less intrusive measures such as contextual advertising and better first-party-data strategies.
The effectiveness of this change is still up for debate and will no doubt continue across the year, with continuing concerns about Google’s potential power grab and user data collection.
However, this shift could also ignite an era of more creative advertising campaigns that are built on quality content and authentic engagement.
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