Tech trends in 2024 leaders need to prepare for

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Technology leaders from Robert Half and Protiviti explore three tech trends in 2024 that leaders need to prepare for: making digital transformation stick; why cybersecurity is everyone’s business; and the importance of understanding data before getting excited about artificial intelligence.

Technology trends are emerging all the time. But artificial intelligence (AI) looks set to change the course of business. According to a global survey Robert Half has conducted among c-suite leaders on digital transformation, AI and machine learning will be the biggest disruptors, followed by immersive technology, the Internet of Things, Blockchain, and Robotic Process Automation. Digital transformation is dominating boardroom discussions.

As these technologies emerge, c-suite leaders have a chance to update legacy systems and prepare the ground for new ones. So, in this article, we explain how they can put ‘innovation’ in digital transformation, why cybersecurity is everyone’s business, and why data should be the priority before AI. We pose key questions and scenarios to help them prepare for key tech trends in 2024.

Consider this story: a government says it wants to streamline tax using digital systems. Businesses scramble to understand what it means for their legacy operations, and the new technology they need to implement. Specialists consult on scope and delivery. But there are few professionals who understand both technology and tax. Employees are learning on the job. At the same time, everyone appreciates the need to make the project stick. They know digital transformation is easy to say, but less easy to do.

Here are key considerations for c-suite leaders in this situation. First, if a business is trying to do something differently – to innovate – it is trying to change what it is currently doing. And the best way to do that is to raise awareness. At the outset, an innovation strategy helps to provide structure and a safe environment for creativity and the evaluation of ideas. It also creates a culture in which people are willing to, and able to, innovate.

In this case, leaders could run design thinking sessions on tax and technology. This will challenge assumptions, redefine problems, and identify potential solutions. Everyone could be involved, to help share knowledge and identify employees with key skills. It is often those at the edge of a business, who work with technology every day, who bring fresh ideas and perspectives. It’s not just about the highest-paid opinions.

Once those design thinking sessions have taken place, then project teams can be set up. Each one should have employees from different areas of the business. They will need strong leadership and a vision of success. The project should also be explained in simple terms: why it matters, the benefits, and how it can be delivered. In 2024, developing an innovative approach to major projects – and keeping people at the forefront – will be a powerful path for c-suite leaders to take.

Digital transformation introduces new systems. These help to streamline processes, but they also introduce risks. Operational improvements are balanced with security challenges: the more technology in a business, the more needs protecting; in a market where hackers are sophisticated and quick. Yes, it is important to have controls in place, but it is also important to understand how systems work together. What does the architecture look like? How are systems connected? How do they fit into the digital transformation strategy? And, importantly, where are the weaknesses?

Good cybersecurity can help businesses gain competitive advantage and improve their operations. Which means it now reaches every corner of a business and impacts every decision: the security of new systems, the security of data, the security of AI, for example. And because security matters everywhere, it is now everyone’s business: from the c-suite leaders with budgets to spend, to employees exposed to a potential attack.

The good news: leaders are prepared to invest. They want professionals to steer the ship, and they are happy to train employees. Finding people with cybersecurity experience and certifications is important. But raising awareness, and providing training, is pivotal. If most hackers are gaining entry through phishing or spam emails, for example, then education will help to prevent attacks. In 2024, businesses will need to combine the skills of cybersecurity professionals with increased awareness across their teams. If cybersecurity is everyone’s business, then it is everyone’s job to understand it.

The headlines about AI are coming thick and fast. It will remain a key tech trend in 2024. But it is important for c-suite leaders to remember this: AI models are only as good as the data on which they are trained. So here are key questions for businesses to ask themselves before they roll out their plans: What are these models going to do? How will the data be used? Does it need to be transparent and explainable? Does it discriminate in an unintended way?

If a business is building AI models that will alter people’s jobs, for example, then the inputs and outputs of those models need to be considered. Especially if they are making decisions on behalf of the business. The forthcoming EU AI Act, and GDPR regulations as an example, also provide guidance for businesses to use data safely and ethically within regulatory guardrails.

Many businesses have focused on training in cybersecurity in recent years and similarly businesses will need to develop robust training around data. Those adopting AI will most assuredly need a Data Literacy Programme that is rolled out across all levels of the business, so individuals are developing better skills.

These tech trends in 2024 aren’t surprising, but they are important. As technology evolves, and the digital backbone of businesses strengthens, the ability to innovate will be the difference between success and failure. The ability to mitigate against cyberattacks will be the difference between success and failure. And the ability to understand data before AI will be the difference between success and failure. In five years’ time, c-suite leaders who grasp these opportunities will be stronger. For those who don’t, the outlook is less certain.

Read more: 5 IT roles created by AI

This article has been developed in conversation with Hiren Joshi, Maria Sartori, Richard Sinden, and Christian Schmitz at Robert Half; alongside Belton Flournoy, Michelle Moody, Erwin de Man and Kentaro Ellert at Protiviti.

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