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Inflectra 2024 Predictions: Five Predictions for How Innovations Will Continue to Redefine Industries in 2024

vmblog-predictions-2024 

Industry executives and experts share their predictions for 2024.  Read them in this 16th annual VMblog.com series exclusive.

Five Predictions for How Innovations Will Continue to Redefine Industries in 2024

By Adam Sandman, Founder & CEO of Inflectra

Groundbreaking technologies will reshape multiple industries in 2024, forever changing their trajectory. This year will be monumental for many, from healthcare and defense to AI and manufacturing.

Below are my top five predictions for how technological innovations will redefine industries in the new year.

1)      Defense Capabilities Will Become More Agile

Defense is becoming increasingly agile, changing how mission systems are defined, designed, developed, deployed, and tested. This is a consequence of the wars going on in Ukraine and the Middle East, showing how a less well funded military can make do with less.

Instead of designing a weapons system from scratch by developing all the requirements and then having companies custom-build solutions, countries are now using off-the-shelf components (e.g., commercial drones) and adapting them for military use. So now they need to change how systems are defined and designed, take commercial (COTS) products, and map them to the end-use requirements rather than starting from a blank sheet.

This is the same way business software is purchased. No one writes up a spreadsheet for a CRM system and then tries to build it. Instead, they look at what Salesforce or Hubspot offer, find the best match for their needs, and then do a gap analysis to see what customizations and integrations need to be done.

This is now the same approach for military and defense solutions.

2)      AI- and ML-Assisted Healthcare Will Assist Human Doctors

2024 will bring a surge in healthcare kiosks designed to support traditional, in-person medicine by taking on more menial tasks to free doctors up to do more meaningful work only they can do.

We saw a considerable drop in the number of doctors and nurses after the pandemic, so self-service kiosks that can assist doctors with simple tasks and minor diagnoses will likely fill that void.

Kiosks can take weight and height measurements, scan the patients' eyes and use other biometric markers to confirm identity. They could also assist with an initial wellness exam and diagnosis and potentially suggest protocols for minor ailments. Think of a self-service urgent care on your doorstep.

By identifying common markers, escalating patients to human doctors when their vitals are outside of acceptable norms, and cutting down on the amount of time doctors spend on less critical tasks, healthcare kiosks may revolutionize this industry.

3)      Artificial Large Language Models will Help Protect Data Privacy

Business users want to maintain control over their confidential and proprietary data but still be able to use AI without compromising the security of their data by allowing AI models to use it for training purposes. The ability to take a local copy may allow them to still adopt AI large language models (LLMs) without this risk.

LLMs rely on massive external datasets rather than a company's private data and are ideal for companies that don't want to risk exposing their data to the internet by allowing AI to access it. This approach empowers companies to get a snapshot of a public LLM and then store it locally using edge computing.

The only issue with this solution is that creating and training an LLM is incredibly resource-intensive because they run on high-end hardware that costs a lot and requires even more computing power.

The good news is that AI platforms empower vendors to download a model and run it on a smaller infrastructure to help generate results and answer questions, without the model learning from secure data.

This prevents confidential data from accidentally ending up in the model and makes it more affordable to use AI in applications. In addition, it allows software vendors to embed AI in their products more reliably, instead of leaning on access to a live LLM.

4)      Hardware Will be Replaced by Software in Manufacturing

Hardware that only does one thing is quickly getting replaced by more versatile and programmable software. Software is replacing Discrete parts across multiple sectors, from the automotive and aerospace industries to supply chain and logistics.

This means hardware companies need to become more like their software counterparts, by providing additional agility and adaptability.

However, there is one significant difference: Typical tech companies like Meta and Google do not need stringent tests or to be applied in safety-critical situations (thereby having to follow standards such as ASPICE, ISO26262). So these hardware-turned-software companies must use tools that combine those used for designing and testing hardware (CAD, CAM, PLM) and those used for software (ALM, DEVOPS, etc.)

5)      AR and VR Will Make Advertising Hyper Personal

As VR/AR starts to become the norm, advertising will become more and more targeted and personalized - less tied to the location and more tied to the person.

As this happens, physical billboards and media will go by the wayside and become passe as localized and personalized ads displayed to each person prove more prevalent and powerful.

Against this backdrop, companies need to consider how these technological advancements may alter the course of their futures and/or inspire a significant pivot, change, or overhaul in 2024.

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ABOUT THE AUTHOR

Adam Sandman 

Adam Sandman, who founded Inflectra in 2006, has been a programmer since the age of 10. Today, Adam serves as the company's CEO. He is responsible for product strategy, technology innovation, and business development.

Published Wednesday, January 10, 2024 7:32 AM by David Marshall
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