Industrial Enterprises Will Not Embrace this Tech Trend in 2024

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Tech News Summary:

  • ABI Research predicts that certain technological advancements, such as robotaxis, major foldable handheld devices, and enterprise 5G, are not likely to materialize in 2024 due to various challenges in the global market.
  • Generative AI at the edge is one notable trend that industrial companies may be considering, but widespread deployments of this technology are not expected to occur in 2024.
  • Read more about the 82 technology trends that will (and will not) shape 2024 in ABI Research’s whitepaper, and stay informed about the latest advancements in automation and control by subscribing to free e-newsletters from Automation & Control News.

Industrial enterprises have been quick to adopt new technologies to streamline their operations, increase efficiency, and stay competitive in the market. However, despite the numerous tech trends shaping the industry, there is one that many industrial enterprises won’t be adopting in 2024: blockchain technology.

Blockchain technology, which provides a decentralized and secure way to record transactions and data, has been touted as a game-changer for many industries. However, when it comes to industrial enterprises, the adoption of blockchain technology has been slow.

Many industrial enterprises are cautious about adopting blockchain technology due to concerns about its complexity, security vulnerabilities, and the high costs associated with implementation. Additionally, the benefits of blockchain technology, such as improved transparency and traceability, may not outweigh the initial investment for some companies.

Furthermore, the existing systems and processes used by industrial enterprises may not easily integrate with blockchain technology, making the transition even more challenging.

While blockchain technology has shown promise in other sectors, such as finance and supply chain management, industrial enterprises are hesitant to take the leap in 2024.

Instead, these companies are focusing on other tech trends such as artificial intelligence, internet of things, and advanced analytics to drive their digital transformation efforts.

The reluctance to adopt blockchain technology in 2024 does not mean that industrial enterprises are against innovation. Rather, they are carefully evaluating the potential risks and rewards to ensure that any new technology they implement aligns with their business goals and objectives.

As the tech landscape continues to evolve, it will be interesting to see if and when industrial enterprises will eventually embrace blockchain technology or if they will continue to prioritize other tech trends in the years to come.

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