GenAI, quantum, semiconductors among top tech for 2024, says Capgemini

French multinational IT services and consulting company, Capgemini, has identified generative artificial intelligence (GenAI), quantum computing, semiconductors, batteries, and space tech as the top technology trends to watch out for in 2024.

GenAI took center stage in global public and business conversations in 2023, sparking expectations that technology could drive progress in business and society. While GenAI will continue to be a highly discussed topic in the coming year, other key technologies are also expected to mature or make breakthroughs. However, Pascal Brier, Chief Innovation Officer at Capgemini and member of the Group Executive Committee, noted that while it is impossible to deny the transformative impact of technology and GenAI is an obvious example, but it is not the only one.”

Generative AI made a significant impact on the global technology and business conversation in late 2022 and 2023, with high expectations for its business impact. In 2024, it is expected to live up to the hype it has generated. While current "Large Language Models" will continue to thrive, there is also a growing need for smaller, more cost-efficient models.

Capgemini also highlighted that Quantum technologies are advancing rapidly, and this progress must be met with enhanced digital defense mechanisms. This shift promises to disrupt the global cyber security standards. Business leaders and technology experts will be affected by this milestone, as more organizations begin their quantum transition.

The semiconductor industry, according to the consulting firm is on the cusp of a transformative era in 2024. With chips reaching 2 nm and transistors approaching atomic size, the industry's landscape is being redefined. The increasing investments in R&D and cutting-edge fabrication facilities pose challenges for even the largest chipmakers. An accelerated digital transformation is expected across industries, leading to shifts in the semiconductor ecosystem. New giga factories, regulations, business models, and foundry services will emerge.

Improving battery performance and reducing costs is also a major focus for businesses and governments. The aim is to support electric mobility and accelerate long-duration energy storage, which is crucial for transitioning to renewable energy sources and advancing smart grids. While lithium ferro-phosphate (LFP) and nickel manganese cobalt (NMC) are becoming standard for electric vehicles, other battery technologies, such as cobalt-free (sodium-ion) or solid-state batteries, are being explored. This exploration is likely to accelerate in 2024.

Finally, the renewed interest in space technologies aims to drive scientific discoveries and address critical challenges, such as climate risk monitoring, improved telecommunications, and defense and sovereignty, according to Capgemini. The new space age is driven not only by government agencies but also by private actors, ranging from startups to corporations. It is supported by various technologies, including 5G, advanced satellite systems, big data, and quantum computing. In 2024, this interest is expected to accelerate innovation and support promising technology projects in sustainable spacecraft propulsion (electric or nuclear) and new Low Earth Orbit constellations for seamless communications and quantum cryptography.