The global Information and Communication Technology (ICT) industry is constantly evolving, with each passing year bringing new and ground-breaking advancements. As we reach the end of the 2023 year, we look ahead towards 2024 with excitement and anticipation of the technological breakthroughs that will shape the future of the ICT industry.
In this blog we will explore the top three breakthrough technologies predicted to revolutionize the 2024 ICT landscape.
1. Quantum Computing:
Quantum computing, with its unprecedented computational power, will make significant strides in 2024. From drug discovery and optimization to climate modelling and cryptography (Das, 2023), quantum computing will unlock a new era of innovations, transforming industries and pushing the boundaries of what we thought was possible. We look at the effect that quantum computing will have in 2024.
- Encryption and Cyber Security: Quantum computers have the potential to crack encryption algorithms that currently safeguard sensitive data. However, in response to this threat, experts are working on developing quantum-resistant encryption methods (QuantumXchange, 2022). In 2024, we may see the emergence of these encryption techniques with the goal of ensuring that our data remains secure in the quantum era.
- Quantum Machine Learning: Quantum machine learning algorithms have the potential to analyse large amounts of data, quickly, (Coursera, 2023) leading to enhanced pattern recognition, predictions and data-driven decision-making.
- Quantum Internet: In 2024, we may see advancements towards building a quantum communication network that enables ultra-secure and faster-than-light (FTL) communication (QuantumXchange, n.d.). Quantum internet would transform the way data is transmitted and protected.
2. Extended Reality (XR):
Extended reality, made up of virtual reality (VR), augmented reality (AR) and mixed reality (MR), will continue to advance in 2024. XR technologies are predicted to redefine the ways that we interact with digital information, creating immersive and interactive experiences. XR will blur the lines between the physical and digital worlds, providing limitless possibilities in gaming, entertainment, education and training (Marr, 2019). We consider the effects of XR in 2024.
- Enhanced Immersive Experiences: XR will greatly enhance immersive experiences across multiple domains. In 2024, we can expect advancements in VR and AR technology that will provide more realistic and immersive environments (Marr, 2019).
- Augmented Workspaces: XR will transform the way we work by introducing augmented workspaces. In 2024, we can expect AR and MR technologies to create virtual overlays on real-world environments, making information readily accessible. XR can enable remote collaboration, allowing teams to work together in virtual spaces regardless of their physical locations, explains Marr (2019).
Consumer Applications: In 2024, we can expect widespread adoption of XR in areas like e-commerce, advertising and social media. AR will allow users to try on virtual clothes, visualize products in their homes and interact with virtual objects in real-world environments (Aeologic Blog, 2022).
3. Blockchain Technology:
Due to its ability to ensure secure and tamper-proof transactions, blockchain will transform sectors like; finance, supply chain and healthcare. From enabling faster and more secure transactions to facilitating trust and accountability. We discuss this further below.
- Data Security and Privacy: Blockchain technology will play a crucial role in enhancing data security and privacy in the ICT industry. By 2024 we can expect to see the integration of blockchain into various ICT solutions like; cloud computing, IoT and data management systems. Blockchain’s decentralized nature and cryptographic techniques will provide a robust layer of protection against data breaches and unauthorized access to this data, explains Davispolk (2019).
- Identity and Access Management (IAM): Blockchain technology will revolutionize IAM systems in the ICT industry. By 2024 we can expect the development of blockchain-based identity solutions that give individuals the ability to have full control over their personal data. This will enable seamless and secure identity verification, permissions management and authentication processes, eliminating the need for intermediaries and reducing the risk of identity theft (Davispolk, 2019).
- Smart Contracts Adoption: Smart contracts are self-executing contracts with predefined conditions that are predicted to increase in adoption in the ICT industry by 2024. These blockchain-based programmable contracts will automate a number of processes like; software licensing, intellectual property rights management and service-level agreements (SLA’s). Smart contracts will streamline operations, reduce costs and enhance transparency in contractual agreements (Manohar, 2023).
References:
Aeologic Blog. (2022, May 26). How extended reality is redefining the ecommerce experience? -. Aeologic Blog. https://www.aeologic.com/blog/how-extended-reality-is-redefining-the-ecommerce-experience/
Coursera. (2023, November 29). Quantum Machine Learning: What it is, how it works, and more. https://www.coursera.org/articles/quantum-machine-learning
Das, A. (2023). Unleashing the power of Quantum Computing: Shaping the future of Technology, LinkedIn. Available at: https://www.linkedin.com/pulse/unleashing-power-quantum-computing-shaping-future-technology-das/ (Accessed: 04 December 2023).
Davispolk. (2019). Blockchain Technology: Data Privacy Issues and Potential Mitigation Strategies. Davispolk. https://www.davispolk.com/sites/default/files/blockchain_technology_data_privacy_issues_and_potential_mitigation_strategies_w-021-8235.pdf
Manohar, M. (2023, June 21). Council post: Smart contracts: The linchpin to enterprise blockchain adoption. Forbes. https://www.forbes.com/sites/forbestechcouncil/2023/06/21/smart-contracts-the-linchpin-to-enterprise-blockchain-adoption/?sh=1047198f2cba
Marr, B. (2019, August 12). What is extended reality technology? A simple explanation for anyone. Forbes. https://www.forbes.com/sites/bernardmarr/2019/08/12/what-is-extended-reality-technology-a-simple-explanation-for-anyone/?sh=2385cafc7249
QuantumXchange. (2022, September 23). The quantum computing impact on cybersecurity. QuantumXC. https://quantumxc.com/blog/quantum-computing-impact-on-cybersecurity/
QuantumXchange. (n.d.). Quantum entanglement communication. QuantumXC. https://quantumxc.com/blog/is-quantum-communication-faster-than-the-speed-of-light/
