According to Forrester’s “The Top 10 Emerging Technologies in 2024” report, four key technologies are set to offer significant returns on investment (ROI) for businesses in the immediate future.
The Nasdaq-listed research firm highlights generative AI (GenAI) for visual content and language, TuringBots, and IoT security as the leading innovations that companies should consider adopting in the coming year. Forrester categorizes emerging technologies by their expected benefit horizon to aid business and technology leaders in making informed investment decisions.
“Businesses must identify the right use cases and quantify potential benefits, costs, and risks across multiple horizons,” said Brian Hopkins, VP of the emerging tech portfolio at Forrester. “Investments should be balanced, with some targeting immediate returns and others focusing on long-term value, despite the higher effort and risk involved.”
Generative AI for visual content is gaining traction as it enables businesses to create images and videos from various prompts. This capability can revolutionize marketing, customer experience, and product design. On the other hand, GenAI for language continues to advance rapidly, transforming customer support and content creation by providing sophisticated language models that streamline these processes.
TuringBots represent another breakthrough, leveraging generative AI to assist developers in creating applications that extend beyond mere code generation. These AI-powered software robots facilitate the development of more complex and functional applications.
As the number of connected devices grows, Internet of Things (IoT) security has become crucial. The surge in cyber-attacks on these devices has pushed vendors to enhance their security offerings to protect sensitive data and maintain trust.
Emerging technologies
Technologies anticipated to deliver significant value within the next two years include AI agents, which are evolving from back-office tools to customer-facing solutions, providing nuanced and context-aware interactions. Autonomous mobility advancements promise to reshape commercial and urban transportation, fostering collaborations for personalized mobility experiences. Although foundational elements like Apple’s models are emerging, widespread adoption of edge machine learning and intelligence is still on the horizon. Quantum security is expected to revolutionize security systems across various platforms, playing a critical role in protecting future computing infrastructure.
For longer-term investments, technologies like extended reality (XR) and Zero Trust edge (ZTE) are projected to take over five years to deliver tangible benefits for most businesses. Currently, XR sees limited adoption, with only a small fraction of US adults engaging with virtual or augmented reality devices. Similarly, ZTE solutions are still in their infancy, with legacy systems adding complexity to their implementation.