What are the technology themes keeping senior executives up at night? And what are their investment priorities for 2024?Despite geopolitical turmoil and economic uncertainty in 2023, technology investment continued to grow significantly, underlining a common belief that the world’s greatest innovations have been born in times of great economic and political stress. These are some of the top technology investment trends to watch in 2024.Artificial intelligenceArtificial intelligence (AI) was the most talked about technology investment trend of 2023 and will continue to attract investment throughout the coming year. Research company GlobalData estimates the total AI market will be worth $908.7bn in 2030. In particular, the rapid adoption of generative AI (GenAI) throughout 2023 is set to continue and impact every industry. According GlobalData’s Thematic Intelligence 2024 TMT Predictions, the GenAI market will grow from $1.8bn in 2022 to $33bn by 2027, implying a spectacular compound annual growth rate (CAGR) of 80 per cent during this period. Of the five advanced AI technologies, GlobalData cites GenAI as the fastest growing, accounting for 10.2 per cent of the overall AI market by 2027.Cloud computingThe cloud computing market will be worth $1.4tn by 2027, growing at a CAGR of 17 per cent between 2022 and 2027, according to GlobalData forecasts. Software-as-a-service will continue to dominate, comprising 63 per cent of cloud services revenue in 2023. Platform-as-a-service will be the fastest-growing cloud service growing at a CAGR of 21 per cent between 2022 and 2027. Businesses will continue to outsource IT infrastructure to the cloud for cost reduction and greater flexibility. As well as its growing importance to enterprise operations, cloud computing will be a significant driver, coupled with AI, for emerging technologies such as robotics and IoT, which require continuous access to large swathes of data.CybersecurityRapidly increasing adoption of GenAI will increase the risk of social engineering attacks and employees will face a greater risk of spear-phishing attacks aimed at gaining access to an organisation’s systems through AI-powered social engineering, according to GlobalData’s Thematic Intelligence 2024 TMT Predictions. The coming year will place chief information security officers worldwide under extreme pressure as cyber-attacks become increasingly sophisticated against the backdrop of a widening cyber-skills gap. According to the EU’s Agency for Cybersecurity, the ransomware business model has grown exponentially in the past decade and is projected to cost businesses more than $10tn by 2025, up from $3tn in 2015. Addressing the challenge will require increased investment and GlobalData forecasts that cybersecurity revenues will reach $344bn worldwide by 2030. (ICE DUBAI)

Fonte notizia: https://www.meed.com/top-five-technology-investment-trends-to-watch-in-2024