Key trends to look out for in 2024

The current rate of technology change is explosive and accelerating each year. To thrive, an organisation must be able to adapt to change. Software applications have become one of the most critical tools used to run and manage organisations, and they need to adapt as fast as the organisation. Low code development platforms, which trace their history to fourth generation programming, provide us with the ability to adapt faster.

You cannot talk about the future of technology without looking at what the role of AI will be in 2024. AI is dominating the tech landscape and we anticipate to see a move from businesses exploring AI to green lighting and implementing AI driven solutions. AI, and the accompanying big data that feeds the models, will be a part of the “Tech Exec” lexicon for years to come and we can expect to see pressure from executives to roll out tangible AI solutions this year. The most important input into the AI models that will be rolled out is the data. Finding and retaining skills in implementing and enhancing data-driven solutions along with expertise in unlocking value from the data collected will be the key to success. Digiata is a proud industry leader in integrating and generating data for applications in the financial services industry.

We also recognise that to cope with the shortage of development skills and a high demand for automation, organisations will adopt more low-code platforms. These platforms will allow for rapid development and deployment of applications. Digiata has been developing and deploying enterprise scale, mission-critical solutions using low-code for over 20 years. Our low-code platform is designed to reduce development time and costs, which is more relevant than ever in 2024. Read more about our case for low-code development platforms. Don’t let the name fool you, low code, offers high scalability too. Whether it’s that throwaway prototype you need to demonstrate a proof of concept, or that business critical trade management system, low code, has high potential to transform your business. Low code is trusted by some of the largest organisations in the financial industry including the major banks and asset managers. With a relatively low learning curve compared to traditional platforms, low code platforms can empower business users to create their own applications, fostering a culture of continuous improvement within the organisation.

As the models that drive the AI revolution rely on well-defined data pipelines, the importance of addressing data issues at source so that they can be trusted will become urgent for businesses as they execute on their AI strategy.  Read our article from March 2023 about how organisations can prepare for the implementation of their AI strategy.Regardless of what the use cases of AI will be in the near future, the underlying IT and data governance strategies play a key role in ensuring both the accuracy and success of the models.

With AI co-pilots and low-code/ no-code platforms greatly accelerating the development and deployment of applications, we believe the role of human talent is expected to shift into focusing less on the technical implementation of applications and more towards leveraging a culture of innovation and growth. Our focus on building long-term trusted relationships with our clients falls in line with this sentiment with a strong focus on the business case and working with our clients to deliver solutions that are aligned to their strategic goals both from a technological and a commercial perspective.

Other key trends we have picked up on:

• Conversations around the ethical use of AI once commercialised in various industries.
• AI-powered tools are helping companies optimise decision-making and be data-driven and smart.

• How platform engineering seems to be the next cultural evolution in the IT industry, which allows Cloud software to work more effectively.
• Developers are becoming better at building serverless apps with tools like WASM, Rust, or Zig.
• There are emerging threats in cybersecurity (example: AI attacks).

We hope to further unpack some of the trends above in future articles.