January 10, 2024 | Posted in News
How companies can streamline their operations and unlock new pathways for growth in 2024.
Christoph Nagy, CEO of SecurityBridge, explores in detail what to expect in the evolving landscape of 2024. He dives into the future of infrastructure, AI-driven software, and cybersecurity for a sustainable digital era.
It has become increasingly important to consider the potential developments within IT. Some of these developments are certain domains poised to draw significant investment from IT budget custodians in 2024.
I see three principal categories: Infrastructure, Software & Applications, and Cybersecurity. Given the rapid evolution of technology, numerous trends could emerge within each sector, and it’s challenging to cover them exhaustively.
1. Cybersecurity
This crucial category is focused on protecting IT assets and encompasses the practices, tools, and policies designed to defend against cyber threats. It includes network, application, and operational security and measures to ensure data privacy and integrity. All businesses, regardless of size, face persistent cyber threats.
However, more giant corporations are adopting proactive security measures, a trend driven by the growing number of regulations worldwide and the escalating sophistication of these risks.
In 2024, IT departments are likely to concentrate their cybersecurity budgets on the following three predominant areas:
2. Software & Applications
Software and applications encompass all types of software, from operating systems to critical enterprise application software. In addition, this category also concerns the programs and operating environments that run on IT hardware or hyper-scale cloud. It’s everything from basic system software to specialized applications, databases, and Enterprise Resource Planning (ERP) systems.
Office and ERP application software will be pushed to use significant language model-based AI copilots. For example, SAP has announced the SAP Joule AI Co-Pilot for early 2024. Microsoft has already released a companion function for multiple office applications within the Office365 offering.
In the software and applications area for 2024, the most significant spending by IT departments will be directed toward:
See more: Defying Economics: IT Budgets Expected To Rise in 2024 Amid Recession Preparations
3. Infrastructure
Infrastructure includes all the physical aspects of IT systems, such as servers, storage, network devices, and data centers. It also consists of the necessary hardware to support cloud-computing infrastructure and communications.
As this hardware is pushed closer to the data source (IoT, mobile devices), we should anticipate more edge computing-especially in areas where high-speed internet is not widely available. For these reasons, edge computing will enable multiple new business models for enterprises, i.e., in gaming or virtual reality.
For the infrastructure and hardware sector in 2024, IT departments will prioritize their spending in the following three areas:
Conclusion: Embracing Connectivity and Intelligence
As we move into 2024, the evolution of IT spending is distinctly marked by the deep integration of Artificial Intelligence (AI) and large language models throughout all facets of technology. This trend signifies a shift towards more interconnected and intelligent IT ecosystems, where AI is supportive and a driving force for innovation and operational excellence.
Specifically, the continuing adoption and evolution of cloud computing is expected to receive a significant share of IT budgets as organizations seek to leverage cloud environments’ scalability, flexibility, and efficiency.
Coupled with AI’s analytical and predictive power, cloud computing is set to become even more robust, fueling advancements in cybersecurity, software applications, and infrastructure. Businesses investing in these integrated, AI-enhanced cloud platforms will be well-positioned to enhance their digital resilience and agility.
By embracing these key trends — unified cybersecurity frameworks, AI co-pilots for enterprise applications such as ERP systems, and sustainable, intelligent infrastructure — companies will streamline their operations and unlock new pathways for growth, setting a benchmark for success in the digital age.