The McKinsey Technology Trends Outlook 2024 highlights several new and emerging technologies that are expected to have significant impacts across various industries. Here are the key technologies emphasised in the report:
1. Generative AI: This technology has seen a dramatic surge in interest and investment, with a nearly 700% increase in Google searches from 2022 to 2023. Generative AI is capable of creating new content such as text, images, music, and 3D models, and has shown transformative potential for business impact.
2. Applied AI: This trend focuses on leveraging machine learning, computer vision, and natural language processing technologies to solve specific business problems and enhance decision-making processes.
3. Industrializing Machine Learning: Also known as Machine Learning Operations (MLOps), this trend involves scaling and maintaining machine learning applications within enterprises. It’s crucial for transitioning from pilot projects to robust business processes.
4. Immersive Reality Technologies: This category includes augmented reality (AR), mixed reality (MR), and virtual reality (VR). Despite a dip in investment in 2023, developments like Apple’s Vision Pro headset demonstrate the trend’s ongoing importance.
5. Quantum Technologies: The report highlights quantum computing as a technology expected to create substantial value, particularly in industries like automotive, chemicals, financial services, and life sciences.
6. Cloud and Edge Computing: These technologies continue to see increased innovation and expanded use cases across industries.
7. Next-generation Software Development: The report mentions advancements in this area, although specific details are not provided in the given search results.
8. Future of Space Technologies: This is highlighted as one of the cutting-edge engineering trends, indicating growing interest and potential in space-related technologies.
9. Electrification and Renewables: While not necessarily new, this trend showed the highest investment and interest scores among all evaluated trends, reflecting its growing importance in the tech landscape.
10. Climate Technologies: The report mentions technologies beyond electrification and renewables, suggesting a focus on innovative solutions for addressing climate change.
These technologies are part of the 15 significant trends identified by the McKinsey Technology Council. The report emphasises that despite challenging market conditions in 2023, continued investments in these frontier technologies promise substantial future growth in enterprise adoption.
