Four of the world’s six biggest companies are colossal operators in the tech world. It’s a testament to the fascinating minds and inventions that have emerged from the technology industry. So many tech companies across various sectors have found such incredible global success, and economists and technology experts don’t believe this trend will head south anytime soon.
Technology is a multitrillion-dollar juggernaut, so there are a lot of big predictions and intriguing opinions to deconstruct as we move into 2024.
Continued rise of gaming and AI in gaming
It’s no secret that the gaming industry is going through one of the most propitious periods in its history. Now that AI’s enormous, pioneering capability is knocking at the door, some gamers and analysts believe that this could be the year that sees substantive change and another factor that continues to add billions to the overall value of the market.
The emergence of individual companies and legislation will help facilitate AI’s implementation in gaming. Some gaming companies have been involved in AI for ages. Although it has only really crossed over into popular culture throughout the course of the last 12 to 18 months, casino companies have used this technology for years.
While it’s not a primary driving force in any critical decisions or developments that gambling companies make, understanding its potential and aiming to get ahead of the curve – and consequently, the competition – is a determining factor in this switch.
AI can be used to provide more accurate behavioral reports about how gamblers interact with a site. 2024 may also see the rolling out of AI-based virtual dealers who can interact with bettors, removing the need for a human.
On the broader scope of the gaming spectrum, NPCs powered by AI could be the most significant change we see in the short term. Although many predictions in the gaming industry revolve around enhanced imagery and other AI-powered, in-game tools, technology will continue having a gigantic impact on game design, carving out innovations, so expect to see some big ones in 2024.
Sweepstakes casino gaming
Sweepstakes casinos differ from traditional casinos, allowing bettors to use site-specific tokens instead of dollars to place their bet. They’re an ideal way to gamble for those who don’t enjoy the concept of betting using their own money, or for those looking to build their knowledge of casino games before seeking out traditional services.
However, there’s also a lot of crossover, offering no-deposit bonuses, welcome promotions and card-based games like a classic casino.
One thing is almost sure to remain: mobile app and mobile casino gaming will continue to develop a more significant grasp on the industry – and perhaps in a decade or two from now, the most significant prediction that tech and gambling experts have for this industry is that website casino gaming could be replaced entirely by mobile devices.
Apple or Microsoft? Who will reign supreme?
Throughout the last decade, there have been some elite tech companies that have continued to push boundaries and generate profits that completely overwhelm their competition. Apple is the most notable example, generating the most astonishing profits a corporation has ever posted. California’s seminal tech enterprise has a market cap that exceeds the GDPs of Italy, Canada and France.
While many in tech have stated that Apple could be due a market correction or that other competitors might start to close the gap on them, this simply hasn’t been the case.
However, there surely can’t be much more scope for growth, given that the company is valued at over $3 trillion. Once you throw in their limp start to 2024 and Microsoft significantly closing the gap due to their investments in Azure cloud software, and more recently, the growth of AI, it wouldn’t be surprising to see Microsoft take the lead and become the world’s biggest technology company.
However, it would be huge news, considering Apple has held this position for nearly a decade.
The chasing tech pack – big predictions and changes
While this titanic duel takes place at the top of the global technology industry, there’s also a cluster of other multibillion-dollar companies that could easily break into the multitrillion-dollar asset class over the next year or two.
Nvidia is without a shadow of a doubt the most intriguing of the current crop; not only have they managed to break into this group and now have a market cap north of $1.2 trillion, but the Californian-based AI company is also braced for another record-breaking year.
Starting off on a solid footing, signing a deal with the world’s largest economic superpower and funding multibillion-dollar startups in the industry, Nvidia is one company that continues looking outward and permeating more levels of the economy with their advanced chip designs and cutting-edge AI development.
Currently, their market cap is around $500 billion – some, but not many, tech experts have boldly predicted that they could make up ground on Alphabet, the colossal conglomerate behind the search-engine powerhouse of Google.
Is this a possibility in 2024? Well, yes, it’s absolutely not out of the equation. However, there’d need to be a serious depreciation in the value of Alphabet, coupled with a rocketing rise in the price of Nvidia. The latter is not out of the equation, but the former is less likely.
If we’re zooming out of this bubble and discussing the end of the decade, Nvidia could easily eclipse them. AI is dominating the airwaves, and Nvidia and its market-leading approach to it, in addition to computer chip technology, is putting it in a phenomenal market position.
Legislative framework for AI
As with any groundbreaking invention, AI poses a number of dangers and has serious potential for misuse. To stop rogue elements from materializing, there needs to be a cohesive, decisive international effort to effectively regulate this industry.
Authorities in the United States, China and many of Europe’s biggest economies have drawn up the framework. Still, it needs to be clear and allow the industry to develop, and with so many components to consider, these things take time.
International legislation can be challenging to get right, with many countries having different vested interests in AI. Social media companies are an excellent example of just how challenging it can be to have a global legislative voice that allows people to enjoy a product while protecting others from harm.
We’ve seen the danger of deepfakes involving AI, which has resulted in many scams emerging and convincing people to invest in sham products. Education is also vital, and legislation could encompass basic AI understanding to proactively protect people from this growing threat.
Therefore, there’s more emphasis on getting AI right – it has the potential to do some serious harm but could also change the world immeasurably for the better – so the legislation needs to get it right and develop an atmosphere and environment in which developers are allowed to explore and flourish within suitable boundaries.
It would be surprising to end this year without at least one of the world’s most prominent economies ratifying robust AI legislation.
VR and immersive technology – the next phase
Unlike AI, which is still in its honeymoon phase, so to speak, VR has had years to impress us or develop a real niche. One of the biggest obstacles that companies face is cost, and especially during a cost of living crisis, VR headsets that can cost upwards of $1,000 aren’t that high up on anyone’s list of priorities.
VR gaming is continuing to find an audience, and although Meta may have lost some ground on some of their global competitors due to their over-commitment to the technology, it could be a slow burner and an investment that pays off in the long run.
During the second half of 2023 there was an increasing trend of affordable VR headsets coming to market, and although there hasn’t been much to light the fuse and excite people, it could take one viral trend or design to light a fire in this sector.
So, while it might appear that AI is stealing the limelight in the tech world, VR could be a surprise candidate. Immersive technology could really gather momentum this year if a game or design can capture an international audience.
Conclusion
The sheer size of the technology industry means that new innovations and ideas are popping up all the time in a variety of sectors. There will undoubtedly be a company or invention that emerges from the backbenches of the industry and surprises us, whether it is gaming, AI or VR related.There’s too much money and interest in this sector for another significant, surprising innovation to remain under the radar for the next 12 months.
AI legislation and Nvidia continuing their march to global tech dominance definitely appear to be on the menu for 2024.The real question is how much ground they can cover over the next 12 months and what the competition will do to keep their market share.
Please adhere to the specific laws and regulations regarding online casinos, which vary across different countries and regions.
