If you're looking to give your business a competitive edge, it's worth paying attention to emerging technologies. The latest Forrester report highlights the top 10 technologies for 2024 that can provide businesses with a significant advantage. It offers valuable insights for tech leaders, guiding them in making informed decisions that balance immediate benefits with future growth.
Let’s break down the report, the key technologies it covers, and their potential impact on businesses.
The most important emerging technologies today
Generative AI for Visual Content
Generative AI (GenAI) for visual content refers to advanced machine learning models capable of creating images, videos, and other visual content from various inputs like text, audio, or other videos. These models help businesses produce visual content quickly and efficiently, which is particularly useful for marketing and product development.
According to Forrester, this technology will empower firms to produce high-quality visual content at unprecedented speed. GenAI is expected to drastically cut production times and costs, enabling more dynamic and personalized customer engagement.
Generative AI for Language
Generative AI for language has already proven its value. Its applications are vast, from enhancing customer support with intelligent chatbots (for example, with an AI service desk), to automating content creation for blogs and social media.
This technology uses sophisticated algorithms to understand and generate human language, enabling it to assist in tasks like drafting emails, writing reports, or even holding conversations.
The actual ground-breaking aspect here is the rapid pace of advancement. Forrester notes that as this technology continues to evolve, it will further accelerate the development of other AI technologies.
This symbiotic growth suggests that businesses investing in GenAI for language can expect immediate efficiency gains and long-term strategic advantages as the technology matures and integrates with other systems.
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TuringBots
TuringBots are AI-powered software robots designed to assist developers in building applications. These bots go beyond simple code generation by understanding the broader context of software development tasks. With the integration of generative AI for language, TuringBots are becoming increasingly capable and essential tools for developers.
The report points out that TuringBots are not just about writing code faster; they're about enhancing software development's overall quality and efficiency. TuringBots can identify potential bugs, suggest optimizations, and even predict future development needs. They can significantly reduce time-to-market for new applications and improve the robustness of software products.
IoT Security
The Internet of Things (IoT) involves the interconnection of everyday devices to the Internet, allowing them to send and receive data. The proliferation of Internet of Things (IoT) devices has introduced new security challenges. With billions of connected devices worldwide, the potential for security breaches has skyrocketed.
As Forrester highlighted, IoT security is now a critical priority for businesses. New security frameworks are being developed to protect these devices.
These frameworks are not just reactive; they include predictive analytics to anticipate and mitigate threats before they occur. For businesses, investing in IoT security will soon no longer be optional but essential to safeguard their operations and data integrity.
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Midterm emerging technologies
Forrester's report identifies several technologies expected to deliver significant benefits in the next two to five years. These midterm technologies are set to redefine various aspects of business operations.
AI Agents
AI agents are autonomous assistants that perform tasks previously managed by humans. Forrester emphasizes that these agents are expanding beyond back-office functions to customer-facing roles.
This evolution has great potential because it enables a more personalized and efficient customer experience. Businesses can deploy AI agents to handle complex queries, provide real-time support, and even drive sales by understanding and anticipating customer needs.
Autonomous Mobility
Autonomous mobility, which includes self-driving vehicles and automated transportation systems, is poised to revolutionize urban and commercial transportation.
Forrester highlights the collaborative efforts between businesses and urban planners to integrate these technologies into the transportation ecosystem. Autonomous mobility promises to reduce traffic congestion, lower emissions, and provide safer transportation options.
Edge Intelligence
Edge intelligence involves processing data closer to where it is generated rather than relying on centralized data centers. This approach reduces latency and allows for real-time data analysis, which is critical for applications like autonomous vehicles and smart cities.
The experts recognize that edge intelligence is still in its early stages, but foundational technologies like Apple's machine learning models are paving the way for its broader adoption.
Quantum Security
Quantum security is an emerging field focused on protecting data against the future threats posed by quantum computing. It’s a fundamental shift in how we think about data security. As quantum computers become more capable, traditional encryption methods will become obsolete.
Forrester underscores the urgency of developing new encryption methods that can withstand quantum attacks. Quantum security will be an essential investment for future-proofing sensitive information.
Long-term emerging technologies
Some of the technologies highlighted by Forrester are expected to take longer to mature but hold significant promise for the future:
Extended Reality (XR)
Extended Reality (XR) encompasses virtual reality (VR), augmented reality (AR), and mixed reality (MR). Despite its potential, XR has seen limited adoption, with only a small percentage of the population using VR headsets or AR devices. However, XR is gaining traction in areas like training and onboarding, offering immersive and interactive experiences that can enhance learning and development.
Zero Trust Edge (ZTE)
Zero Trust Edge (ZTE) is a security framework designed to protect remote workers, retail outlets, and branch offices. Forrester highlights ZTE's potential to provide robust security in a decentralized work environment.
ZTE is expected to simplify security management by embedding local security measures into devices and networks. While true ZTE solutions are still emerging, businesses that adopt this framework can enhance their security posture and reduce the complexity of managing remote and distributed environments.
Conclusion: strategic investment in emerging technologies
Brian Hopkins, Forrester's VP of emerging tech portfolio, states, "Tech leaders must be able to identify the right use cases and quantify potential benefits, costs, and risks across multiple horizons."
Businesses should spread their investments, balancing shorter-term technologies that deliver quick returns with longer-term bets that require foundational investment and the ability to manage higher risks. This is the best approach for those looking to capitalize on emerging technologies.
The true value of strategic investment lies in its ability to future-proof an organization. Starting with a careful evaluation, businesses can adopt emerging technologies that help them achieve immediate operational improvements and also pave the way for sustainable growth and innovation.
A balanced and forward-thinking investment strategy will ensure that companies remain agile, resilient, and ready to leverage new opportunities as they arise.
