Deloitte's Global TMT Predictions for 2024 Unveiled
In the rapidly evolving landscape of technology, media, and telecommunications (TMT), the year 2024 stands as a transitional period marked by the surge of generative artificial intelligence, growing demands for sustainability, and persistent pressures to monetize.
Generative Artificial Intelligence: Competition and Adaptation
The market for generative artificial intelligence (AI) chips is experiencing rapid growth, fostering competition among providers seeking to monetize their services and IT departments advocating for the gratuity of these functions. More companies are expected to leverage their own data to train generative AI, resulting in significant improvements in productivity and cost optimization.
Sustainability: An Integrated and Transformative Approach
Sustainability has emerged as a critical theme across industries, including technology. Short-term focus areas include electronic waste recycling and sustainable supply chain strategies. Additionally, agricultural technology holds promise in improving yields and reducing resource usage, such as pesticides and water, thereby contributing to global food security.
Media, Entertainment, and Sports: Evolution and Diversification
The growth in revenues from elite women's sports, driven by fan interest and commercial partnerships, underscores a trend where streaming services are adapting their business models to retain customers and meet demands for premium content. Narratives evolve with demographic shifts and the integration of innovative technologies, while audio entertainment formats like podcasts and audiobooks gain increasing popularity among consumers.
Telecommunications and Technology: Security and Connectivity
In the telecommunications sphere, security is assuming greater importance. Authentication is expected to reinforce the smartphone's position as the ideal device for this purpose. Furthermore, the integration of satellite and terrestrial mobile networks could unlock new revenue opportunities across various industries. As demand for cloud solutions rises due to increasing data volumes and cybersecurity threats, there is a greater emphasis on localized operations.
Financial Momentum and Future Outlook
Technology companies are anticipated to experience an uptick in funding through venture debt, potentially further driving innovation in the sector. This additional capital inflow could catalyze the development of new technologies and solutions, thereby solidifying companies' leadership positions in the TMT realm.
2024 promises to be a period of transformation and advancement in the Technology, Media, and Telecommunications sector, propelled by the adoption of generative artificial intelligence, a focus on sustainability, and the ongoing evolution of business models and emerging technologies.
For a more detailed analysis of these trends, we invite you to consult the Deloitte's Global TMT Predictions 2024 report.