The new year, 2024, is almost upon us, which means it is time yet again to look at the tech trends that will shape the Association of Southeast Asian Nations (ASEAN) moving forward.
There have been many advancements in 2023, with businesses working on data trust models, cybersecurity, artificial intelligence (AI), 5G, 3D printing, virtual (VR) and augmented (AR) reality, and computing as a service (CaaS). While these technologies will continue growing, next year will likely see significant improvements in unique segments like edge computing.
We explore top industries that can leverage emerging nanotechnology trends in Southeast Asia
Here are the top tech examples to look out for in 2024:
Phygital convergence
Phygital Convergence refers to the physical and the digital world coming together and reshaping our reality. For example, customers can visit a physical store online and try on clothes virtually. Another development is the shift to viewing property listings online instead of in-person visits with an estate agent.
This technology’s growth is dependent on the advancement of others. As such, when mobile phones and apps, virtual reality (VR) headsets, and other technologies improve, they will significantly impact Phygital Convergence and widen the range of usage.
Quantum computing
According to AWS, quantum computing comprises computer science, physics, mathematics, and quantum mechanics to solve complex problems that classical computers cannot resolve. It also processes these complicated calculations faster than on traditional devices. Its usefulness is in boosting machine learning (ML), providing seamless simulations, improving research and development (R&D), optimising supply chains, and more.
With the quantum field still needing much research, it will likely offer better solutions in 2024 and the coming years.
Cloud and edge computing
Edge computing brings computational capabilities and data closer to the end user. For example, facility sensors can prevent customers from entering unauthorised locations. Advances in 5G networks and the Internet of Things (IoT) will enable the proximity of data for those who need it.
New cloud-based solutions like cryptocurrency mining reduce the need to acquire expensive computer hardware. It will be a cost-effective and environmentally friendly way for new users to obtain crypto.
Cybersecurity
In Southeast Asia, 92% of business leaders believe cybersecurity should be at the top of the list for every company. Some solutions they can apply include using graph databases, which reveal threats and enable quick resolutions, or employing a digital twin to simulate security risks and thwart them. To stay ahead in this critical field, professionals can enhance their expertise with ASK Training’s IT Course, designed to equip them with the latest cybersecurity knowledge.
Online threats are increasing as data collection is commonplace, devices often connect through sensors, and artificial intelligence becomes sophisticated. Blockchain can protect records better, and AI can analyse datasets to identify and restrict security threats.
Blockchain
Since blockchain emerged, it has provided a secure, decentralised, multidimensional, and scalable option for addressing challenges in various industries. In the coming year, it will continue enhancing efficiencies in business operations, replacing manual activities, reducing costs by eliminating go-betweens and handling transactions faster.
Embedding Blockchain in systems and apps is the way forward—for example, in antivirus software to provide greater security to companies.
Sustainable technology
With most of the world now more environmentally conscious than ever, sustainable technology is critical to enhancing business success while protecting the planet. According to Gartner, digital solutions will enable environmental, social, and governance (ESG) outcomes.
They will also allow companies to optimise costs, improve wellness, offer traceability for eco-friendly practices, enhance operational effectiveness, and reduce emissions. Sustainability will increase in 2024 as businesses adopt more technologies, such as automation, cloud services, analytics, and other environmentally friendly practices.
AI and GenAI
AI and Generative AI (GenAI) have had a widespread impact since last year, creating content and providing vital solutions in multiple industries across Southeast Asia. However, GenAI has limitations, such as data insecurity, copyright infringement, inaccuracy, bias and discrimination, ethical concerns, and regulatory hurdles.
In 2024, artificial intelligence will be more prevalent, reducing its cost and democratising access to its benefits. It will perform complex tasks, review data to provide analytics, create better content and images, become accurate in analysing information to provide diagnoses, and other much-needed advantages.
5G and IOT
Regional countries in Southeast Asia have either launched or are planning to launch 5G technology. Predictions show that ASEAN and Oceania will have around 620 million 5G subscribers by the end of 2028. Building 5G infrastructure and connectivity will enable the IoT to work better.
5G will be more capable of handling IoT devices, providing faster sensor data transfer speeds, and improving reliability. Moreover, 5G’s network design is energy-efficient, which will help IoT devices extend their battery life.
Keeping up with tech trends is challenging because innovations or advancements, such as those in edge computing, constantly occur. Cloud computing will remain relevant in the long term as companies gather more and more data for analysis to learn about their customers, businesses, and markets. No matter how everything pans out, ASEAN stands to gain if it positions itself well and invests in relevant technologies for its industries.