1. Geopolitics in 2024
A greater number of powerful actors will shape an increasingly complex global system in 2024. Countries that are not specifically aligned with any major power – including India, Saudi Arabia, Turkey, South Africa and Brazil – are likely to gain more sway over the international agenda. We expect this ‘multipolarity’ to be a defining feature of geopolitics in 2024. Another defining feature is expected to be ‘de-risking’, with countries’ policy stances looking to reduce global dependencies and prioritize national security. But how can business prepare for a future that will affect companies in unique ways? We believe there are three no-regrets geostrategic moves that all companies should take. From adapting your sustainability strategy to increasing the resilience of global supply chains, here’s how to get ahead of the top developments coming in the next year…
Top 10 geopolitical risks for 2024
2. Robotics
Ever wondered how technology advancements will shape our future and transform the world we live in today – especially with the rapid rise of robotics? Whilst it’s obvious in sectors such as manufacturing, have you ever thought about the wider impact? Healthcare or even retail? As of 2021, at least 3.5 million industrial robots were operating in manufacturing factories around the world and industrial robot installations hit an all-time high, according to a 2022 report by the International Federation of Robotics. The trend seems to be accelerating. Since 2010, the manufacturing industry’s investment in robots has been on a steady rise as part of an ongoing effort to cut production costs. But it’s not just manufacturers feeling the impact. Take healthcare and life sciences. Robots are increasingly being used in operating rooms, clinical settings and research laboratories, to automate manual, repetitive and high-volume tasks. This means technicians and scientists can focus their attention on more strategic tasks. Pretty cool, right? As technologies evolve, robots will function more autonomously, eventually performing certain tasks entirely on their own…
3 tailwinds for robotics adoption in 2024 and beyond
3. The future is bright for tech
2024 is brimming with opportunities for the tech sector. After navigating global economic headwinds and rising geopolitical tensions in 2023, emerging tech is rewriting the narrative for 2024. And (you’ve guessed it) generative AI will play a key role. GenAI tools can be applied to virtually every operational activity, including supply chain optimization, automation, risk management, customer alignment and new business development. But GenAI is not the only emerging technology driving innovation for tech companies. Edge, cloud and quantum technologies will also help when it comes to digital transformation. Rather than treating GenAI as an isolated technology, companies that integrate GenAI into a broader technology transformation will be better placed to create sustained value. We compiled a list of the top 10 opportunities for tech companies in 2024. By seizing them, tech companies can focus on what they do best: innovating, developing breakthrough technologies and bringing new service offerings to market.
Top 10 Opportunities for Technology Companies in 2024
4. What does 2024 look like for Telecommuncations?
As we move into 2024, telecommunications companies are dealing with a complex range of risks that are shifting and evolving year on year. Not only are threats related to data – including those involving AI technology – becoming more urgent, telecom companies must also focus on helping customers cope with cost-of-living pressures, improving their sustainability efforts, and managing their employees and company culture more effectively. So how can they address these risks? One way is to engage with employees in new ways. Almost a third of telco employees say they prefer working fully remotely and commuting only when required, compared with 23% across all sectors, according to the 2023 EY Work Reimagined Study.Factors like resistance to new technologies and new data security needs could undermine resilience and innovation. But what can Telcos do? A clearer definition of their purpose allied to a deeper focus on learning and reskilling that accommodates remote working is paramount. Having more engaged employees will reduce risk while also improving internal collaboration and external stakeholder relationships. But it doesn’t stop there…
Top 10 risks for telecommunications in 2024
5. Preparing for the 2024 regulatory landscape
Rapidly evolving regulations can prove difficult for finance companies to understand. But with growing geopolitical unrest and economic instability, the task becomes even more challenging. Today, several well-known banks and the heightened scrutiny from international regulatory bodies have prompted companies to pay more attention to new and incident-driven regulations as well as board and management oversight, supervisory effectiveness and best practices that will enable future growth. So, what are the expectations and top priorities for 2024 — and how can firms prepare and respond? One way is through maintaining vigilance in tackling financial crime and fraud and leveraging technology to help ensure compliance. While technology is creating new types of threats, it also offers new tools in the fight against financial crime. Take fraud and investment scams for example. They’re on the rise for the financial system, particularly at the retail level where economic pressure is encouraging customers toward risk-taking behavior. But that’s not all…