Key Tech Trends To Watch in 2024

As we step into 2024, a number key tech trends are emerging as the ones to watch . Generative AI, electric vehicle challenges, humanoid robots, and weight-loss pharma innovations are at the forefront.

Generative AI Takes Center Stage

In the tech world, 2023 will perhaps be remembered as the year that generative AI went mainstream. Microsoft’s ChatGPT, backed by strong investment, led the way, marking a pivotal moment. However, as we enter 2024, the industry faces hurdles such as high development costs, regulatory challenges, and potential legal battles. Experts predict a transformative year with AI but urge caution against getting too carried away.

Electric Vehicles (EVs)

Despite the imminent milestone of one million electric cars on UK roads, 2024 is expected to be a challenging year for EV manufacturers. Major players, including Ford, GM, and Tesla, paused their expansion plans in late 2023, citing a “brutal” market and supply chain issues. Analysts anticipate stagnant growth in key European markets. However, the introduction of the Zero Emission Vehicle (ZEV) mandate in the UK could create a buyer’s market, offering opportunities for consumers.

Humanoid Robots

Humanoid robots are gaining momentum, with Tesla unveiling Optimus—a robot designed for basic factory tasks. Elon Musk anticipates its deployment in Tesla factories in 2024. As competition intensifies, Amazon’s Digit and Sanctuary AI’s Phoenix join the race. The application of humanoid robots in real-world work settings signifies a potential shift in automation, bringing them closer to mainstream adoption.

Pharmaceutical Innovations in Weight-Loss

In the pharmaceutical realm, the weight-loss drug semaglutide, marketed as Wegovy, has witnessed unprecedented success, briefly making Novo Nordisk Europe’s most valuable company. As Novo Nordisk invests billions in production expansion, Eli Lilly’s Mounjaro has gained approval in the US and the UK, posing competition. Pfizer is also seeking approval for its weight-loss pill, setting the stage for innovation and competition in the weight-loss pharmaceutical landscape in 2024.

As we navigate through the coming year, these key tech trends will undoubtedly shape the trajectory of innovation. From the evolution of generative AI to the challenges and opportunities in the EV sector, the rise of humanoid robots, and pharmaceutical innovations, 2024 promises to be a dynamic and transformative year.