What Does 2024 Hold for the IT Industry?

By Lumify Learn Team  |  January 30, 2024

The IT industry has seen some remarkable strides in the past few years, driven by the coming together of various technologies and the growing demand for digital solutions. For instance, the emergence of cloud computing, artificial intelligence (AI), and blockchain technology has enabled new possibilities for data storage, analysis, and security. Also, the adoption of 5G networks, internet of things, and augmented reality has enhanced the connectivity, interactivity, and experience of various digital services.

And as we step into 2024, the IT industry is expected to face new opportunities and challenges. In this blog, we will explore some of the trends that we can expect in the IT industry. We will also talk about how enrolling in any Lumify Learn course can help you gain the skills and knowledge necessary to thrive in the IT industry this 2024, whether you’re a beginner or have some experience already.

What are Some IT Trends to Expect this 2024?

1. AI will keep dominating the tech scene

AI is poised to continue to influence the tech scene in the upcoming years, as more businesses and sectors adopt the technology to enhance their products and services. Generative AI, a branch of AI that can create new content or data from existing ones, will also continue to be a powerful tool for various applications, such as data analysis, automation, and personalisation.

However, AI is also set to face some challenges, such as ethical issues, data quality, and human oversight. Ethical issues arise when AI is used for sensitive or controversial purposes, such as facial recognition, social media moderation, or military operations. For example, the use of deepfakes has raised significant ethical concerns within the realm of AI. Deepfakes can convincingly manipulate audio and video content to depict individuals saying or doing things they never did. This has profound implications for misinformation, privacy infringement, and potential harm to the reputation of individuals.

Meanwhile, while data quality is crucial for ensuring the accuracy and reliability of AI outputs, it can still be compromised by bias, noise, or manipulation. It can also be difficult to monitor and regulate the use and impact if AI due to the complexity and opacity of some AI technologies.

As such, as AI takes the lead in the tech scene, it will still require careful and responsible development and deployment.

2. Cloud computing will grow exponentially

Cloud computing is set to grow exponentially in the next few years as more people and businesses rely on the internet for their data and service needs. According to a report by market intelligence firm IDC, business spending on cloud infrastructure will top US$ 1 trillion worldwide while sustaining a compound annual growth rate of 15.7%. This will be triggered by factors such as the increasing demand to embrace new platforms and as-a-service offerings, including AI services.

Some of the most significant trends to expect in this field include:

  • AI-as-a-service: This allows users to access artificial intelligence capabilities over the cloud, without having to install, maintain, or upgrade their own hardware or software. AI-as-a-service can help users save time, money, and resources, as well as leverage the expertise and innovation of the providers. AI-as-a-service can also enable users to scale up or down their AI needs, depending on their demand and budget.

  • Hybrid and multi-cloud: The number of large organisations using a multi-cloud strategy (i.e., buying cloud services from more than one provider) is set to increase from 76% to 85% during 2024. Hybrid and multi-cloud solutions are becoming more popular as firms aim to balance security and flexibility. This allows them to select services based on their specific needs.

  • Real-time data: Organisations will aim to leverage real-time data this 2024 to get updated insights instead of relying on outdated information. Also, more of the data consumed by people will come in the form of streamed data.

3. The IT workforce will expand and diversify

The IT workforce is seen to grow faster than other industries, as the demand for digital skills and innovation will increase in the post-pandemic era. In fact, the employment growth rates for certain categories of IT jobs are projected to surge to 4-5 times the current rate by 2030. This surge is set to create millions of new opportunities for workers in these specialised fields.

What’s more, the IT workforce will also become more diverse and inclusive as more women, people of color, and persons with disabilities will enter the field and take on leadership roles. This will help bridge the digital divide, foster social justice, and enhance creativity and collaboration in the IT industry. Ultimately, the IT workforce is set to become a key driver of economic growth, social progress, and environmental sustainability in the near future.

4. Improved cyber resilience

According to research, one in two businesses have fallen victim to a cyber attack in the past three years, and the cost of these attacks could grow to about US$10.5 trillion by the end of 2024. Considering this, enhancing cyber defenses through effective and powerful IT solutions is a top priority for businesses this year.

Firms need to adopt a proactive and comprehensive approach that covers all aspects of cyber security, from prevention to detection and response. Some key strategies businesses can take include:

  • Security Information and Event Management (SIEM) analysis logs for threat detection

  • Endpoint protection to stop ransomware upon entry

  • Network segmentation to secure pathways and isolate attacks

  • Compliance frameworks that follow industry standards and regulations

By implementing these strategies, organisations can enhance their cyber resilience and protect their data, assets, and reputation from cyber threats.

Lumify Learn: Helping You Thrive in the IT Industry

If you’re interested in starting a career in the IT industry, Lumify Learn is your best choice. We offer courses in the following areas:

All courses are conducted online, making it easier for you to balance your studies with your other commitments. Our expert trainers and mentors are also more than ready to guide you throughout your learning journey by providing you with personalised feedback, practical exercises, and useful resources.

Lastly, once you complete a course, you can join our exclusive Lumify Edge program, which provides you with the essential tools to prepare for the job market and connects you with companies looking to hire IT professionals like you.

Excited about joining the burgeoning IT industry? Enquire with us on a course today.

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