As we gear up for 2024, VGM Forbin is closely tracking all the latest technological advancements and trends that are on the horizon. We're talking about game-changers that'll shake up how we work, chat, and keep our digital spaces safe.

Now, for business owners – whether you're running a small ship or a big operation – diving into this fast-changing tech scene can be a bit overwhelming. It's not just about understanding the nitty-gritty of these new gadgets; it's also about making them fit seamlessly into your business plan. But don’t stress, VGM Forbin's got a crew of IT experts ready to roll with you. We're all about decoding these tech trends and coming up with solutions that match your business like a glove.

So, if you're feeling a bit lost in the tech maze, we've got your back. Let's tackle 2024 together, make these advancements work for you, and keep your business riding the wave in this crazy digital world! Here are key tech trends to keep in mind this year:

Cybersecurity: From Priority to Necessity

As we navigate through the ever-evolving technological landscape, the need for robust cybersecurity solutions has never been more pressing. The alarming projection that cybercrime damages will skyrocket to $10.5 trillion annually by 2025—a staggering threefold increase from 2015—serves as a reminder that digital security is no longer optional; it's an absolute necessity.

Reports from Accenture, a leader in cybercrime analysis, reveal that the average cost of individual cybercrime incidents reached approximately $13 million in 2023. This figure is expected to see a 15% increase by 2024. The reality is clear: staying ahead of these evolving threats is not merely a priority but a crucial investment for the future of both businesses and individuals.

The Economic Impact of Cyber Incidents
An important aspect of this surge in cybercrime is its direct impact on the cost of cyber liability insurance. As the frequency and severity of cyber incidents increase, insurers are facing higher claims, which in turn leads to a significant rise in cyber liability premiums. This trend makes it more costly for businesses to insure themselves against cyber risks, emphasizing the need for more proactive and comprehensive cybersecurity strategies to mitigate potential losses.

Is your business geared up for a potential cyber threat? Let’s do a cybersecurity audit to find out. Chat with our team about software to protect your business from any cyber attacks.

Green Tech Investments and Sustainability Surge

In 2024, green tech investments (renewable energy) are poised for a remarkable upswing. Statista, a leading provider of market and consumer data, forecasts a doubling of U.S. investment in green tech from $40.6 billion in 2023 to an astounding $83.4 billion in 2024. The shift towards green technologies represents not just an industry trend but a fundamental evolution in our global business landscape.

Generative AI: The 2024 Game-Changer

Generative AI refers to artificial intelligence algorithms capable of creating new content, from text and images to music and code, based on the data they have been trained on. Unlike traditional AI, which is typically used for analyzing and interpreting data, generative AI takes this a step further by generating new, original outputs that didn't exist before.

Generative AI stands out as a defining factor in the technological landscape of 2024. PwC, a leading provider of professional services, predicts a staggering $15.7 trillion boost to the global economy by 2030, with a substantial portion attributed to generative technologies. By 2026, Gartner, a global research and advisory firm that provides insights, anticipates that 70% of the design and development effort for new web and mobile applications will be influenced by generative AI. Generative AI will change how we work with technology in many aspects including web development, IT support, and online interactions.

Rapid Adoption of New Technologies

The acceleration of technology adoption is evident as only 25% of enterprise meetings are predicted to be in person in 2024, down from 60% before the pandemic. To remain competitive, businesses are embracing new technologies faster than ever. AI technologies, such as machine learning and artificial intelligence, are driving digital transformation strategies across industries. CIOs, spending 69% of their time on leadership and strategic activities by 2024, play a pivotal role in identifying opportunities where new tech can revolutionize processes and achieve business goals.

Conversational AI in Enterprise Applications

2024 is bringing in some really exciting changes, and one of the big players is conversational AI. It's like having smart, chatty tech buddies integrated into about 40% of apps – a massive jump from the paltry 5% we saw in 2023. This trend isn't just a random thing; it's part of the bigger picture where machine learning and AI are taking over different industries, helping businesses level up their digital game and hit their goals like a pro.

In 2024, AI is flexing its muscles, cybersecurity is a must, sustainable tech is on the rise, and everyone's picking up new tech toys like it's a race. To really rock in this tech-dominated world, staying ahead isn't just an option – it's a must. So buckle up, because the tech ride of 2024 is about to get wild!

Navigating the Future Together

As we stand on the precipice of a transformative era, the insights into the top technology trends for 2024 unveil a landscape filled with both challenges and opportunities. At VGM Forbin, our IT Team is committed to not merely observing but actively leading the way through these complexities.Our team is equipped to assess your systems comprehensively, offering tailored recommendations to fortify your digital infrastructure. Whether it's a cybersecurity audit or strategic planning for the adoption of new technologies, we are here to help guide you. Reach out to us by calling (877) 659-5241 or feel free to schedule a free consultation with our experts.