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Grading our 2024 enterprise technology predictions
- The article evaluates the 2024 predictions made alongside Enterprise Technology Research's Erik Bradley and discusses whether they have held up to data so far. In terms of sustained budget pressures for global tech spending, midsize firms have landed within the 4-5% growth forecast, smaller firms appear to be facing greater budget pressures and the Global 2000 is tracking at 2.7% growth for the year. AI has not been a tide that lifts all ships, and those firms that are seeing ROI on AI projects are experiencing small 'wins' which are not self-funding. Visualization of code output is helping to lower the barrier for shipping generated code in real product use cases.
- The prediction that cybersecurity would remain a top investment priority proved accurate, as did the focus on addressing sophisticated threats and regulatory compliance. Hybrid cloud models are gaining traction over aggressive public cloud migrations. Organizations across industries are prioritizing data literacy and addressing challenges such as AI hallucinations to ensure meaningful, actionable GenAI outputs. There has been a notable increase in demand for roles such as 'gen AI prompt engineers', ethical AI use and data literacy.
- The GenAI trend is bifurcated, with 'me too' AI lagging behind leaders and hyper-scalers benefiting from the AI wave. Networking challenges in AI environments, particularly around latency and bandwidth, are becoming more prominent. Legacy players such as Dell, IBM, Oracle and HPE have leveraged AI and hybrid cloud offerings to remain competitive. Gen AI models are also creating a renewed focus on governance and data quality which benefits trusted ecosystems such as cloud.
- Private-market shifts, M&As and IPOs are slowly picking up, but economic constraints haven't provided second lives for companies that are struggling to gain market share. Overall, the predictions balance well-established trends with forward-looking insights, keeping in mind the degree of difficulty. Looking into the year ahead, experts suggest that certain predictions such as hybrid cloud strategies and the rise of gen AI-driven skills and tools will continue to gain traction.
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