The Top 6 Technical Trends of 2024
Top Strategic Technology Trends for 2024 that Impact CX
It’s clear that artificial intelligence, especially generative AI, has been at the forefront of tech trends this year. In CRM, AI has already improved customization and automation, resulting in more personalized customer experiences (CX) on a larger scale and this has had a profound impact on CX, redefining how companies engage with clients and nurture loyalty. As we look to 2024, industry experts predict that AI will maintain its dominant position in the tech landscape. However, it’s not the only area businesses should be focusing on. There are more tech-related opportunities and challenges on the horizon for which companies should prepare.
Gen AI Integration
Right now, generative AI is top of mind, and it’s getting leaders to think about bringing more AI and machine learning into their business strategies. For instance, AI is transforming the way businesses interact with customers. According to a recent survey by Gartner, chatbots are expected to handle 70% of customer communications by 2024 — that’s up from 15% in 2021. Let’s take it one step further and have AI tools analyze the customer interactions across various channels and extract insights into customer sentiments and emerging trends. This significant shift towards AI-driven communication not only streamlines customer interactions but also offers businesses a deeper, data-driven understanding of customer behavior, ushering in a new era in CRM.
It’s now known that companies that leverage AI technologies have the potential to experience significant growth over the next few years. Gartner estimates AI will generate 10 percent of all data by 2025 – paving the way for major growth in 2024.
Achieving Governance and Security of AI
According to a PwC survey, over 80% of CEOs determined that data privacy leads to higher customer satisfaction rates and trust. As AI technologies become increasingly integral to various industries, the emphasis on establishing robust governance frameworks and ensuring the security of these systems is paramount. This trend involves developing clear guidelines and standards to govern AI development and deployment, addressing ethical concerns, data privacy, and accountability.
Additionally, it encompasses strengthening AI systems against cybersecurity threats and mitigating risks associated with AI-powered decisions. Organizations are focusing on implementing transparent, fair, and secure AI practices to foster trust and reliability in these advanced technologies, while also complying with evolving regulatory landscapes. This movement towards responsible AI governance and enhanced security is essential for sustainable and ethical AI advancement.
Reducing Technical Debt
In 2024, businesses should try to simplify their tech stacks. While complex tech stacks increase costs and security worries and leave less room for innovation because more resources are required to maintain them, modern systems like no-code platforms for CRM encompass streamlined operations, enhanced flexibility, and user-friendly interfaces, enabling businesses to innovate and adapt with greater ease and lower overhead. With the right tech, companies can automate business workflows, consolidate systems and applications, and empower a new generation of developers — business technologists — to help reduce technical debt.
Heading into 2024, it’s no surprise that no-code platforms are among the top tech trends. There is an obvious shift towards making data and tech more accessible to everyone. In the past few years, there’s been a real push to put innovative tools and skills in the hands of more people across society.
This move towards simplicity is why no-code solutions are getting so popular. They’re perfect for those who don’t have a lot of experience or technical know-how. Paired with AI , these user-friendly platforms are becoming a go-to choice
Composable CRM Applications
In 2024, the spotlight will be on speeding up how quickly products hit the market. With composable architecture, all functionality is available as a set of packaged business capabilities, including apps for marketing, sales, and service. This means that business technologists can use them in any combination to support their unique use cases. By embracing a composable architecture, users are empowered to seamlessly assemble various components, blocks, and apps to create enterprise-ready solutions that match their unique requirements without coding. The result? Tailor-made, enterprise-level solutions, and all this without needing to write a single line of code. Talk about speed to market.
Total Experience (TX)
TX is taking center stage, weaving together customer experience, user experience, employee experience, and multiexperience. This integration aims to elevate the interactions for both consumers and employees, creating a more unified and enriching experience for everyone involved. Imagine a world where every touchpoint is seamlessly interconnected, enhancing the overall journey for all stakeholders.
Gartner predicts a significant shift: by 2026, a whopping 60% of large enterprises will leverage Total Experience to revolutionize their business models. The goal? To reach unparalleled levels of customer and employee advocacy. This trend isn’t just about improving individual experiences; it’s about synergizing them to create a powerful, holistic impact that could redefine business success.
In 2024, tech trends, specifically those tied to CRM, will be distinguished by deeper AI integration for personalized experiences, improved speed to market to meet customer expectations, modern technologies that go the distance, and security frameworks that foster trust and loyalty. The next year is poised to be a year of dynamic change and innovation in the tech world, with these trends leading the charge towards a more efficient, inclusive, and forward- thinking future.
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