Driven by technological features and constant social and environmental concerns, market trends should be strategically analyzed by companies seeking success.
Year after year, the world has been transforming surprisingly fast. Keeping up with all these changes can be a daunting task, albeit a much needed one.
After all, market trends are a way to evolve and innovate continuously. And also, to prepare companies for the opportunities and challenges that lie ahead.
Undoubtedly, adaptability will be this coming year’s buzzword. Especially considering rapid changes in economic, social, technological, and environmental aspects.
Balancing these pillars will be essential, not only for survival but for the success and rise of businesses in 2024.
Human factor is the main trend for 2024
What can be anticipated about the next year is that innovation will remain a key factor for competitive advantages. However, it is not just about implementing technological resources.
The core will be to apply these resources to refine and improve people’s lives and work relationships.
There is no doubt that technology is increasingly essential to our daily lives. However, the greatest challenge lies in the connection between people and technology to create value and productivity.
In addition to optimizing operations, innovations such as artificial intelligence and robotic automation, for example, expand the possibilities for products and services to be personalized.
One of the market trends is personalization. Regardless of who your target audience is, the more personalized your product can be, the greater the chances of success.
Inclusion and diversity in the workforce also deserve attention, as they are expected to be a central focus of businesses in the coming years.
The explanation is due to the benefits generated. The company becomes culturally richer, while diversity enables understanding a wider range of customers. In other words, it is essential for an increasingly globalized, diverse, and digital world.
In this scenario, technology continues to be a fundamental ally, especially in the analysis and proper use of data.
These rich pieces of information are capable of generating new ideas, a better understanding of your persona, accurate market predictions, and proactive positioning.
Sustainability also has its place in market trends looking forward
The concern for social and environmental well-being is not recent. However, for the approaching year, adopting sustainable practices will ensure competitive advantages and new opportunities as well.
Greener operations, products that meet ecological standards, responsible suppliers, and of course, non-conformance audits, will become increasingly frequent.
Social responsibility will be a hot topic, especially with the discussions brought about by social networks. Companies will need to be more transparent, ethical, and demonstrate positive social impact.
In addition, issues such as renewable energy and circular economy will be in the spotlight, as they reduce costs and improve brand positioning. It will also be necessary to implement measures to reduce carbon emissions.
In general, all issues involving ESG practices will be expanded and given greater weight by consumers.
In summary, the coming years will require a complete overhaul of companies’ operations so that they actively care about the society they are part of.
Even though it may seem like a huge challenge, this vision can reduce costs and bring closer increasingly conscious consumers.
Technological trends for 2024
It is impossible to talk about market trends without including technology. After all, Gartner foresees an 8% increase in global investments in this area in 2024.
Knowing which resources to invest in to keep the business healthy, even in the face of an uncertain and competitive market, is fundamental.
Trends reported by Gartner include:
Democratized Generative Artificial Intelligence
Also known as GenAI, applications based on this technology will become a vast source of accessible information provided to companies.
Using a language model that allows companies to connect their professionals to knowledge, generative AI will democratize understanding at all business levels.
Gartner indicates that more than 80% of organizations will implement GenAI-enabled applications in production environments.
Intelligent Applications
In an effort to improve and automate work, intelligent applications comprise a series of software with advanced technology.
The goal is to use resources such as artificial intelligence, machine learning, natural language processing, and data analysis to offer user-adapted functionalities.
We mentioned that a market trend is the possibility of personalization, and this is an issue addressed by intelligent applications.
Because they adapt and evolve efficiently and quickly, applications can be included in various sectors that use virtual assistants and chatbots, recommendations, or enterprise solutions.
Augmented Connected Workforce
This concept goes hand in hand with the concern for the human factor. Or rather, in combining technology with professionals’ daily lives to increase efficiency, productivity, and internal collaboration.
The strategy involves integrating resources such as augmented reality, artificial intelligence, and other tools to enhance skills and capabilities.
And also, to ensure immersive training, even if the employee accesses remotely.
Thus, the augmented connected workforce allows professionals to access crucial information and use appropriate tools to perform complex tasks.
In addition, Gartner estimates that by 2027, 25% of technology managers will use this resource to ensure rapid learning.
Trust, Risk, and Security Management of Artificial Intelligence
For Gartner, by 2026, companies that apply Trust, Risk, and Security Management of Artificial Intelligence (AI TriSM) will eliminate up to 80% of illegitimate information, consequently increasing decision-making accuracy.
This management ensures that AI-based systems are ethical, secure, and reliable. For now, without implementing protective barriers, there can be various negative effects generated by AI models.
Considered one of the market trends for the next year, management involves transparency, explainability, fairness, and responsibility. In other words, GRC strategies.
In terms of risk, it includes failures, privacy, and data security, mitigating potential impacts.
Security refers to the application of encryption, protection against malware, authentication, and enhanced access policies.
Industry-level Cloud Platforms
In another estimate, Gartner indicates that 70% of companies will use industrial cloud platforms by 2027.
Although suggestive, these platforms do not offer just data storage, which is common nowadays.
Instead, they come with specialized services, regulatory compliance, advanced security, and customization to the particular needs of each business.
These platforms use SaaS, PaaS, and IaaS solutions to offer products with combinable features.
AI-Augmented Development
In general, this market trend uses resources such as AI and machine learning to assist software engineers in their projects, tests, coding, and programming.
As technologies are on the rise and being used in various contexts, augmented development ensures greater productivity and meets growing demands.
Because it allows time to be used in strategic activities rather than writing codes or programming.
Embracing 2024 Trends
Gartner also states that machine clients, continuous threat exposure management, sustainable technologies, and platform engineering are market trends to keep an eye on in 2024.
Indeed, the coming years will bring a series of technological tools that can be implemented to make companies more sustainable and competitive.
Undeniably, technology is an indispensable resource for seizing all opportunities that arise. And, they help address challenges and make proper use of the most important resource: people.
But, you don’t have to wait until next year to take advantage of market trends. By using Fusion Platform, your company embarks on the path to business excellence.
Focused on ensuring process, document, and indicator management, the Fusion Platform is constantly updated so that companies can enjoy all future trends.
Neomind enables true digital transformation in your business. Turn information into results with the Fusion Platform.
