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This time last year, what was then a small private company called OpenAI launched a little something called ChatGPT on November 30th… and changed the world as we know it.
Since then, it’s fair to say that the world – and the finance sector with it – has gone AI-crazy. Microsoft funneled billions into OpenAI’s research and development, and Nvidia’s stock price as GPU-producing overlords shot to new highs. Soon, the question of the hour for individuals and funds alike became: ‘how can I invest in ChatGPT?’
Unfortunately, as we all know, OpenAI is still not a publicly traded company. But, while investors wait patiently for an OpenAI IPO so as to gain exposure to the ChatGPT revolution directly, Deloitte had other ideas for ways in which to cash in on the current technological gravy train.
Here are five things they identified – taken directly from their report:
1. DevEx minded software – and companies
The worldwide developer population is projected to reach nearly 29 million worldwide in 2024, outpacing the entire population of Australia – yet barely keeping up with the pace of demand. Shifts to Agile, DevSecOps and cloud engineering have all become mainstream in recent years… Now, a new focus is emerging for companies that are dedicated to attracting and retaining the best tech talent, or DevEx: a developer-first mindset that considers each touchpoint of software engineers”
2. Augmented Reality (AR) software and devices
AR (is) a medium that can overlay the physical world with a digital layer to create a shared, three-dimensional immersive internet. As a result, global markets for AR devices has been estimated at $38.6 billion in 2022, with an annual growth rate of 36% through 2030 for related software and hardware.”
3. The industrial Metaverse
This year, we’ve seen metaverse capabilities progress in new directions. They’ve turned the corner from consumer toy to enterprise tool, spatial technologies are especially taking hold in industrial applications… Revenues driven by the industrial metaverse is projected to reach nearly $100 billion by 2030, far outpacing consumer ($50 billion) and enterprise ($30 billion) segments.”
4. Metaverse-optimised spatial technology gear
While the true potential of the spatial web is still years away, innovators are building its infrastructure now. In the next 18 to 24 months, companies should pay attention to the value opportunities… Through next-gen interfaces such as smart glasses, the spatial web can allow us to interact with real-time information prompted by our physical environment… Given the possibilities, the market for spatial computing is poised to dwarf previous estimates, with some projections estimating upwards of $600 billion by 2032.”
5. Technologies and companies specialising in tech stack and core improvement
After years of investments in once cutting-edge technologies, companies are grappling with an expanded set of core technologies including mainframes, networks and data centres in dire need of modernisation. In the years to come, companies are likely to develop a highly customised and integrated wellness plan across the tech stack, including investments in self-healing technologies that reduce tomorrow’s modernisation needs.”
You can read Deloitte’s full Tech Trends 2024 report .