The latest technological trends show companies that in the era of generative tools, maintaining an integrated business strategy, strong technological foundations, and a creative team is crucial. The rising popularity of artificial intelligence (AI) presents organizations not only with an opportunity to increase productivity and efficiency of their teams but also to build new business models. Meanwhile, the metaverse is transforming into live spatial computing in augmented reality. According to expert analysis, the industrial metaverse is expected to be worth nearly $100 billion by 2030, as reported in the Tech Trends 2024 study conducted by consulting firm Deloitte.
The fifteenth edition of the Deloitte report points business and technology leaders towards revolutionary technology developments. Trends identified by experts include spatial computing and industrial metaverse, generative AI as a growth catalyst, and new ways of data computation.
“In recent years, technological advancement has created a solid foundation for the industrial metaverse as well as for investing in new IT and OT solutions. Digital twins, 5G networks, cloud computing, or artificial intelligence have given companies significant development opportunities and technological problem solving. Graphic processors, AI chips, and soon quantum and neuromorphic computers are defining the next computing era. We have identified several new trends that companies should consider if they want to keep up with the technology transformation,” says Anna Wiącek-Kocot, Partner, Leader of the Strategy and Technology Transformation Team, Deloitte.
Industrial Metaverse: A New Opportunity for Business Development
As the metaverse turns into a corporate tool, spatial technologies are finding broader applications in industrial projects. Companies use data and AI to mirror existing organizational processes. Experts predict promising possibilities. Revenues generated by the industrial metaverse could reach nearly $100 billion by 2030, according to estimates quoted in the report. This technology uses spatial data and AI to generate visualizations that mirror real-time processes. Such solutions are already moving towards broader spatial computing.
The Deloitte report suggests that web 3.0 aims to eliminate the boundary between digital content and physical objects, effectively linking these two realities. Thanks to next-generation interfaces (like smart glasses), this technology could enable real-time interaction with information via geolocation or biometric commands (such as voice and gestures). Considering existing possibilities, the market for such computations may eclipse previous metaverse estimates. Deloitte experts predict that it will be worth over $600 billion by 2032.
“Augmented reality technologies are already contributing to the increase in organizational revenues today. For instance, clothing manufacturers’ use of AR technology in their applications, websites, and physical stores enables them to differentiate their offer and reach customers more effectively. This is also happening in other areas of trade and services. We anticipate that we will soon use augmented reality to create 3D models from 2D images thanks to generative AI, facilitating customer service and product presentation, and engaging customers more deeply in the sales process,” notes Ścibor Łąpieś, Partner, Leader of the Technology & Cyber M&A Team at Deloitte.
AR solution manufacturers predict that the technology they offer will also impact other sectors, including medicine, education, entertainment, and tourism. Improved and more accessible resources and high-quality 3D equipment may pave the way to a more efficient spatial network.
Generative AI as a Growth Catalyst
As AI becomes increasingly popular, many companies are considering how they can benefit from it. Companies can use this technology to lower costs, speed up processes, reduce complexity, increase customer engagement, and develop innovations and build trust. The most productive applications of generative AI will not focus on replacing humans but on equipping employees with tools to enhance their development, productivity, knowledge, and creativity. The management team is under increasing pressure to speed up this transformation and get ahead of the competition.
“One might assume that generative AI is just another stage in the development of AI technology. Machine learning systems that support automation have been used for many years. However, we have now automated the essence of work, including cognitive functions. The democratization of access to this technology has created an opportunity to change the operational model of companies. We need imagination to develop the potential of companies in new, hitherto unseen areas,” says Piotr Mechliński, Associate Partner, Risk Analytics & AI at Deloitte.
In the near future, companies may find it even easier to benefit from generative AI in their sectors, thanks to the emergence of learning models based on more detailed data. Leaders who can find new, creative applications for generative AI might stand out against other entities that primarily focus on data tracking.
Companies Optimize Computing Environments
As technology becomes an increasingly important differentiator for companies, they have created more complex computational workloads for their IT back-ends. Organizations are making greater use of their infrastructure and adding state-of-the-art hardware to speed up processes.
“Training AI models, conducting complex simulations, and building digital twins require extensive computational resources. These advanced solutions are starting to strain the existing infrastructure of organizations. Companies now require highly optimized and specialized computing environments to ensure competitive advantage,” says Ścibor Łąpieś.
Better utilization of existing computational resources can help companies accelerate many processes. On the other hand, companies are increasingly turning to specialized hardware. Graphics processors have become key to training AI models. Leading technology, social media, research, telecom and marketing firms are rolling out their own graphics processors. However, for less advanced companies, the most common approach will likely be to use graphics processors in the cloud. These reduce the cost of training AI models by as much as six times compared to training models on conventional processors.
Researchers and technology companies are developing new approaches to data processing and, in the process, creating completely new opportunities. Quantum computing, a technology whose impact is becoming ever more apparent, may be one of the most promising trends. Quantum computers represent a completely new way of performing operations on data compared to the currently used binary computing system.
Another promising area is neuromorphic computing, which involves mimicking the structure and functionality of the human brain, focusing especially on neurons and synapses. The main benefit of using this solution is the ability to increase productivity without increasing power. According to the Deloitte report, a new approach to the market also includes photonic computing. In this case, processors use light waves to transmit and store data. This field is less advanced than quantum and neuromorphic computing, but research is already underway at major technology companies.
