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Which technology trends matter most to companies in 2024?

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Innovative technologies in 2024

In the news

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Monitoring Earth. With much of the world grappling with the effects of climate change, innovative technologies are essential to accelerate decarbonization and ensure a successful energy transition, the World Economic Forum states. Earth observation, for instance, uses sensors on land and in space to collect data that can help people learn how ecosystems are changing. By 2030, the World Economic Forum finds that the technology could generate $3.8 trillion in value. [WEF]

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Appreciating AI. Although the creators of “AI Appreciation Day”—designated in July—were originally intending to promote a film, the idea has caught on, Axios notes. Whatever the holiday’s origins, appreciating generative AI’s (gen AI’s) potential also means acknowledging its limitations, says Axios’ chief technology correspondent. While the tech can greatly accelerate the generation of code and other content, humans are still needed to maintain quality. [Axios]

Applied AI and industrializing machine learning have seen the most significant uptick in innovation, reflected in the surge in publications and patents from 2022 to 2023.

On McKinsey.com

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A positive long-term trajectory. Despite economic headwinds in 2023, continuing tech investments promise substantial future growth in enterprise adoption, Lareina Yee , chair of the McKinsey Technology Council , and coauthors share. While the macroeconomic environment has affected equity capital investment and hiring, underlying indicators reflect a positive long-term trajectory in the 15 tech trends we analyzed.

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Two growing trends. Two trends that stood out in 2023 were gen AI and electrification and renewables. Senior leaders’ awareness of gen AI innovation has increased interest, investment, and innovation in AI technologies such as robotics. Meanwhile, electrification and renewables posted the highest investment and interest scores among all the trends we evaluated. From AI to space technologies, discover 15 noteworthy tech trends in 2024.

Grab a snapshot of 15 tech trends

—Edited by Belinda Yu, editor, Atlanta

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by "Only McKinsey" <publishing@email.mckinsey.com> - 01:24 - 30 Jul 2024

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Which technology trends matter most to companies in 2024?

Innovative technologies in 2024

In the news

Applied AI and industrializing machine learning have seen the most significant uptick in innovation, reflected in the surge in publications and patents from 2022 to 2023.

On McKinsey.com