As we begin 2025, we reflect on 2024—a year of major technological advancements and challenges across industries, particularly in artificial intelligence (AI), cybersecurity, the workforce, and cloud computing. Below are some of the highlights from the year:
AI’s mainstream transformation
2024 will be remembered as the year artificial intelligence irrevocably entered the mainstream. No longer confined to research labs and science fiction novels, AI has emerged as a tangible force, influencing every aspect of our lives—from communication and information access to scientific discovery. Generative AI has revolutionised content creation, producing high-quality text, images, videos, and even functional code. This explosion of AI innovation has captured global attention and sparked widespread investment, propelling the AI revolution forward.
Reports from Exploding Topics indicate that 77% of firms are currently using or exploring AI, with most prioritising its adoption. In fact, most of our current devices use some form of AI, and by 2030, AI is expected to generate $15.7 trillion in economic benefit globally.
This year, we saw new players emerge in the AI field, such as Moonshot AI in China, which secured a significant $1 billion investment from Alibaba. This shows the growing importance of AI in the East, where China aims to be a global leader in AI by 2030, currently reporting over 4,500 AI companies. India is leading in AI adoption, with 30% of firms using AI, surpassing the global average of 26%, according to Boston Consulting Group (BCG). Bhavish Aggarwal, founder of Ola, spearheaded Krutrim, an AI startup that reached unicorn status with a $1 billion valuation, further showcasing India’s rising AI capabilities. Alongside major players like Google and Microsoft, these companies are pushing the boundaries of AI, creating programs capable of generating human-like creations, perfect translations, and breakthroughs in medicine and climate change research.
However, the rapid rise of AI has also brought to the forefront a complex web of ethical and societal issues. Job displacement due to automation, algorithmic bias perpetuating existing inequalities, and the misuse of AI for malicious purposes have become central concerns. These problems highlight the need for a strong AI governance framework that includes regulations, ethical standards, international cooperation, and responsible development. Ensuring transparency in AI development, holding people accountable for AI-based decisions, and creating clear guidelines for its use will be crucial as AI continues to evolve.
Tech giants under pressure: Playing by the new rules
Around the world, governments have been closely examining the power and influence of Big Tech, launching antitrust investigations, imposing fines for anti-competitive practices, and demanding accountability for their impact on society. The situation with the social media app, TikTok, owned by Chinese firm ByteDance, captured the ongoing tension between tech companies and national governments. With concerns over personal data privacy and potential national security risks, TikTok faced a difficult battle to continue operating in the U.S. market.
Apple also faced challenges in 2024. The unexpected ban of the iPhone 16 by Indonesia revealed the complex relationship between tech companies and national governments. Apple had to make concessions, including a significant investment in the Indonesian economy, to regain access to this important market. These examples show that even the largest technology companies must consider the rules and political climates of different countries. Developing innovative technology is no longer enough; being a responsible global actor is equally important. To succeed moving forward, these companies will need to adapt to this evolving environment.
Beyond the metaverse: Where tech shined
In 2024, development in the metaverse was more measured than initially expected. While it didn’t achieve widespread adoption, immersive technologies like AR and VR found practical applications across various fields. The construction, architecture, and urban planning sectors used AR and VR as tools for design visualisation, project management, and training, changing how we approach and interact with the built environment. Retail and entertainment also explored ‘phygital’ experiences, combining the physical and digital worlds to offer customers more engaging interactions. These developments showed the growing potential of immersive technologies for improving productivity, creativity, and engagement in different sectors.
Going green: Tech with
a conscience
In 2024, growing concerns about climate change and the environmental impact of technological advancement brought more attention to sustainability in the tech sector. A new generation of scientists began exploring the use of genetically modified microbes for carbon capture and utilisation, showing potential for carbon removal. Alternative protein sources for animals gained attention as people became more aware of the carbon footprint of traditional animal agriculture. Investment in renewable energy, electric vehicles, and other green technologies continued to grow this year. AgriTech innovations such as precision agriculture, vertical farming, and cellular agriculture are making strides in food production with a focus on sustainability, contributing to growth in the AI market within the food and beverage industry, which is expected to reach over $9.68 billion by 2025.
What’s next?
The future of tech is now
Advancements in space technology are providing solutions to global challenges. Earth observation, space debris mitigation, and space-based solar power generation offer potential for a more sustainable and interconnected future.
Imagine a world where surfaces can reshape wireless signals, leading to faster connections and improved sensing capabilities. This is the promise of reconfigurable intelligent surfaces. Today, controlling computers with your mind is becoming more feasible. Brain-computer interfaces, while not new, are gaining attention. As hackers become more skilled, the need for stronger online defenses increases. For individuals, businesses, and governments, robust security measures are essential, as online scams are more common.
Looking ahead
Major trends that will continue to influence our world include AI, regulation of Big Tech, immersive technologies, and sustainability. It is important to address the ethical implications of AI, ensure responsible practices from Big Tech, and work to bridge the digital divide so that technological advancements benefit everyone. We may also see continued progress in space-based internet and the use of sustainable materials across industries to reduce environmental impact.
