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Classified in: Science and technology
Subjects: Survey, Economic News/Analysis

Wovenware Predicts 2024 As the Year When AI Sets Sail, Brings Technology Industry Along in its Wake

Wovenware, a Maxar Intelligence company and a nearshore provider of artificial intelligence (AI) and custom software engineering solutions, today released its annual predictions on the key trends that will shape and influence the technology industry in 2024. Generative AI and other forms of AI will drive the majority of tech spend, which in turn will accelerate the value of data and the cloud, forcing the development of government regulations to ensure their safe use.

"The launch of ChatGPT, Google Bard Ai and other generative AI solutions put AI on the world stage across virtually all sectors in 2023," said Carlos Melendez, Wovenware COO. "Following the economic uncertainty of the past year and cautious IT spend, which could continue into 2024, the possibilities of AI will shift from exploration to full-blown adoption, reinvigorating the entire tech industry and ushering in a new period of digital transformation and innovation."

Here are Wovenware's predictions for the five key tech trends that will shape 2024.

AI becomes democratized. While the use of machine learning, computer vision, natural language processing (NLP) and other forms of AI have been adopted by trail-blazing organizations during the past few years, in 2024 they will become essential tools used in some form by most organizations. These organizations will have to determine how to fit them into their tech stacks, how to govern them and how to empower them as productivity tools to support humans.

Data get deliberate. Today, all companies are becoming data-driven organizations, yet they still grapple with how to leverage data effectively. In 2024 they will become more intentional in how they collect and leverage data. They will define what they hope to address with data and then work backwards to make sure they have the right data to address it. Purpose-built data will be the watchword to ensure accurate data analytics.

Economic uncertainty looms. Organizations will continue to be cautious about IT spend as they recover from the economic uncertainty of 2023. Every digital initiative they undertake will need to be vetted against its ability to increase profitability, reduce long-term costs and enable quick ROI. AI will meet those requirements and bring other enabling technologies along with it, such as the expansion of cloud usage and graphics processing units (GPUs) that fuel AI.

Government gets real about AI governance. While the U.S. government is working aggressively to better understand AI, no formal policies around its safe and effective use have yet been put into play. In 2024 we will see greater cooperation between government, business and academia and the regulations to ensure fairness and transparency and to weed out bad actors using AI for malicious activities.

New tech zones emerge. With the U.S. government's declaration of new tech hubs across the country, new regional tech centers of excellence will grow and become attractive destinations for companies looking to set up shop or partner with tech providers outside of Silicon Valley. Amidst a continued tech talent shortage, interest will grow in regional hot spots that have a strong university base, reasonable cost of living, high quality of life and the infrastructure to support entrepreneurs and innovation.

About Wovenware

As a design-driven software firm, Wovenware, a Maxar Intelligence company, delivers custom AI, computer vision and other digital transformation solutions and services that create measurable value for customers. Through its nearshore capabilities, the company has become the partner of choice for organizations needing to re-engineer their systems and processes to increase profitability, boost user experience and seize new market opportunities. Wovenware leverages a multidisciplinary team of world-class experience designers, software engineers, data scientists and data specialists to create solutions for cloud transformation, advanced AI innovation and application modernization. Headquartered in Puerto Rico, Wovenware partners with customers across North America and around the world.

Visit us on the web at www.wovenware.com, or connect with us on LinkedIn.

Maxar Intelligence is a provider of secure, precise, geospatial intelligence. For more information, visit www.maxar.com.

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