Ten Emerging Technologies Every Business Needs to Watch

Jul 4, 2024 | News

In an ever-evolving technological landscape, staying ahead of the curve is crucial for businesses. Forrester, a global technology research company, recently released a comprehensive trends report identifying ten technologies that companies should keep an eye on. These technologies are categorized based on their expected time to deliver business benefits: short-term, medium-term, and long-term. Businesses must stay informed and prepared to leverage these advancements. As these technologies evolve, they promise to reshape industries, drive efficiency, and open new avenues for growth and innovation. By understanding and adopting these emerging technologies, businesses can position themselves at the forefront of their industries and capitalize on new opportunities. Let’s start!

 

Short-Term Game Changers (within two years)

 

Generative AI for Visual Content

Generative AI for visual content is set to revolutionize creativity, especially for marketers and creatives within global enterprises managing multiple brands. Imagine transforming a lengthy video into various short-form clips, automatically translated and repurposed across multiple platforms—all in a single step. This technology drastically simplifies the creative process, offering immense benefits in terms of efficiency and reach.

However, it’s essential to acknowledge the potential risks. Issues like distorted features, unintended likenesses of public figures, and legal liabilities from copyright infringements must be managed carefully. Despite these challenges, the creative sector stands to gain significantly. The focus will likely shift towards enhancing content quality as distribution channels expand exponentially.

 

Generative AI for Language

Generative AI for language is poised to make a significant impact in customer service by handling high volumes of inquiries without requiring additional staff. This technology can extract and retrieve information from unstructured data, streamlining customer interactions and improving efficiency.

Aaron J. Rafferty, founder of Tech Buzz, notes that companies have already seen dramatic reductions in headcount and costs thanks to AI-driven customer service solutions. While concerns about the opaque nature of these AI models persist, trust in the technology is growing as its capabilities and limitations become better understood.

 

IoT Security

As IoT (Internet of Thing) devices become more integral to critical infrastructure and daily operations, IoT security has gained paramount importance. Traditional security measures often fall short in protecting these devices, making specialized IoT security technologies essential. These technologies help safeguard critical data and enhance the value of edge intelligence.

Experts like Krishna Vishnubhotla from Zimperium emphasize the need for robust security measures to protect sensitive data and network integrity. The increasing number of connected devices and the rising sophistication of cyber threats make IoT security a top priority for enterprises.

 

TuringBots

TuringBots, AI-driven tools for software development, are among the short-term technologies highlighted by Forrester. These tools can significantly accelerate the software development process, allowing developers to focus on more complex tasks while routine coding is handled by AI. This shift not only boosts productivity but also enhances the quality and innovation of software products.

 

 

Medium-Term Innovations (two to five years)

 

AI Agents

AI agents are set to transform various industries by providing advanced automation and decision-making capabilities. These agents can learn and adapt to different environments, making them invaluable in sectors like finance, healthcare, and customer service. They promise to enhance operational efficiency, reduce costs, and improve service delivery through intelligent automation.

 

Autonomous Mobility

Autonomous mobility technologies, including self-driving cars and drones, are expected to become more prevalent in the medium term. These technologies promise to revolutionize transportation by enhancing efficiency and safety. However, they also face regulatory and technical challenges that must be addressed to ensure widespread adoption and integration into existing infrastructure.

 

 

Edge Intelligence

Edge intelligence, which involves processing data closer to where it is generated rather than relying on centralized data centers, is set to enhance real-time analytics and decision-making. This approach reduces latency and bandwidth usage, making it ideal for applications like autonomous vehicles and smart cities. By enabling faster data processing and response times, edge intelligence can drive significant improvements in various industries.

 

Quantum Security

Quantum security leverages principles of quantum mechanics to secure communications and perform cryptographic tasks. This technology is anticipated to revolutionize the current landscape of encryption and identity management. While quantum computing is still in its early stages, preparing for its impact on cybersecurity is crucial. Businesses must stay informed and invest in quantum security solutions to protect their data in the future.

 

Long-Term Visionaries (over five years)

 

Extended Reality (XR)

Extended Reality (XR), encompassing virtual, augmented, and mixed reality technologies, is projected to deliver long-term benefits by creating immersive experiences. Industries such as entertainment, education, and training can leverage XR to offer more engaging and effective experiences. This technology has the potential to transform how we interact with digital content and the world around us.

 

Zero Trust Edge (ZTE)

Zero Trust Edge (ZTE) is a security and networking solution expected to provide comprehensive protection through a single vendor. This approach ensures that no entity, inside or outside the network, is trusted by default, enhancing overall security. By adopting a zero-trust model, businesses can better protect their networks and data from increasingly sophisticated cyber threats.

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