Sketched, technology in 2024
Before taking a short holiday break, this week we revisit key trends from the past year across technology, the consumer, the economy, sustainability, and financials.
From AI to quantum computing, technological innovation appears to have accelerated in recent years. However, making new technologies productive often takes longer as organizations evaluate options and put supporting systems in place. For instance, after more than 20 years of rapid growth, according to a McKinsey survey, only 22% corporate executives report having fully scaled cloud computing within their organization.
Source: McKinsey, July 2024
As our Digital Innovations strategy team discusses in their recent white paper, Investing in AI:Everything, everywhere, and all at once, there has been a Cambrian explosion in AI model development. Although OpenAI’s ChatGPT was among the first to market, they are no longer alone.
Source: CB Insights, April 2024
Artificial intelligence has long been the center of industrial strategy known as Industry 4.0, while consumer applications like chatbots and image generators have garnered the most attention. As the steady progress of automation continues, industrial robots are not only expanding their ranks, they are getting smarter and more capable.
Source: International Federation of Robotics, February 2024
The CHIPS Act enacted by the US in August 2022 is contributing to record high spending on the construction of manufacturing sites for semiconductors.
Source: US Census Bureau, November 2024.
According to the US Federal Bureau of Investigation (FBI), in 2023 cybercrime complaints rose 10% year on year and related losses rose 22% to more than USD 12.5 billion. While losses from ransomware jumped 78% year on year, the reported figure of only USD 59.6 million reflects that many firms do report ransomware payments to the FBI. The largest contribution to the growth in losses came from crypto fraud which rose 53% to USD 3.94 billion in 2023.
Source: US Federal Bureau of Investigation, March 2024