Capgemini Unveils Top Five Technology Trends For 2024

Capgemini has unveiled its TechnoVision Top Five Tech Trends to Watch in 2024, focused on technologies that are due to reach an inflection point next year. While in 2023, generative artificial intelligence took centre stage for enterprises and will continue to be a focus area next year, some other technologies are expected to witness maturity or breakthrough in 2024. 

Below are the technologies to watch in 2024, according to Capgemini. 

Generative AI

While generative AI and current large language models will continue to thrive in 2024, there is an increasing need for smaller, cost-efficient models. Models will get smaller to run on low-footprint installations with limited processing capabilities, including on the edge or on smaller enterprise architectures. New AI platforms will also combine generative AI models with high-quality information from knowledge graphs. Platforms will arise, providing tools for companies to leverage generative AI without deep technical expertise. 

These developments indicate a shift towards a more accessible, versatile and cost-effective technology, enabling organisations to scale generative AI use cases faster while deriving more long-term value. 

Quantum Technologies

Threats driven by the development of quantum computing may render current encryption standards like RSA and ECC obsolete. The development of quantum-resistant algorithms is becoming a necessity for maintaining data privacy and security in the future. 

In the US, the standard for post-quantum cryptography, which are encryption algorithms believed to be resistant to quantum attacks, will be issued in 2024. Business leaders and technology experts will be affected by this, and a higher number of organisations are expected to begin their quantum transition. 

Semiconductors

Multiple factors will converge to reshape the semiconductor industry in 2024. Chips and transistors are reducing in size, and investments in research and development, and fabrication facilities are becoming challenging for even the largest chipmakers. 

In 2024, chiplets should see breakthroughs in 3D chip stacking, innovations in material science and new forms of lithography for increasing computing power. As digital transformation accelerates across industries, it will also reflect in the semiconductor ecosystem, with new gigafactories, regulations, business models and foundry services emerging in 2024. 

Batteries

Improving the performance and reducing the costs of batteries is a major focus for businesses and governments. The aim is to support electric mobility and accelerate long-duration energy storage to help the transition to renewables and accelerate smart grids. Cobalt-free (sodium-ion) or solid-state batteries will likely see acceleration in 2024, with the latter important primarily for electric vehicles, as they have a higher storage capacity for a lower price. 

These emerging developments may offer a pathway towards greater choices for the battery industry and more sustainable use of materials such as lithium, nickel and cobalt. 

Space Tech

Renewed interest in space technologies aims to drive scientific discoveries and help solve challenges such as monitoring of climate risks and disasters, better access to telecommunications, and defence and sovereignty. 

Along with government agencies, interest and investment in space will be driven by private organisations and supported by technologies such as 5G, advanced satellite systems, big data and quantum computing. In 2024, this should accelerate innovation and support technology projects in the field of sustainable spacecraft propulsion, communications and quantum cryptography. 

Technologies Shaping The Next Five Years 

Capgemini has also listed a few technologies that will be in focus over the next five years.

These include low-carbon hydrogen as an alternative to fossil fuels. It can be developed by using renewable or nuclear energy to power the electrolysis of water, splitting it into hydrogen and oxygen with zero carbon emissions. 

Another technology is carbon capture, which will require investments by industries such as cement or steel factories to reach their decarbonation goals.  

The importance of synthetic biology to protect public health rose since the Covid-19 pandemic. This technology is poised to remain in focus in the coming years, with possible innovations including programmable cells and organisms capable of manufacturing new drugs, green chemicals, sustainable materials and breakthroughs in gene editing, Capgemini said.