We’re currently in the golden age of innovation, with technology advancing faster than ever before and transforming all areas and aspects of human existence. If computers and the advent of the Internet were the most important inventions of the 20th century, social media, quantum computing, AI technology, blockchain, cryptocurrency and biotechnology are some of the hallmarks of the 21st century in terms of innovation.
Technology is all around us, having become so ubiquitous and so deeply ingrained in our daily practices that we no longer perceive its presence. These days, everybody knows how to navigate the internet, how to buy crypto or shop online, and using smartphones and computers feels like child’s play. There’s never been a time when our lives were so simple and so complicated at the same time, but tech developments have made this paradox possible.
Consumer technology, particularly, is evolving at such a rapid pace that it’s becoming increasingly more difficult to keep up with the new tech products and services that emerge on the market, replacing old ones with lightning speed.
So, now that 2023 is gone, it’s the perfect moment to look forward to the future and try to identify the consumer tech trends that are going to transform our world further.
AI prevalence
Artificial intelligence (AI) technology stole the spotlight this year, inching closer to mainstream acceptance. Many have gone as far as declaring 2023 the year of AI. While some argue that this technology is not a novelty since it has been around for decades, the fact remains that AI has taken massive strides in 2023 and is only going to grow in significance moving forward. But how exactly will AI impact consumer technology in 2024?
With AI’s unlimited capabilities, there’s a world of possibilities lying ahead. The only issue here is how fast this technology can be leveraged by different industries. Experts predict an AI-based revolution in the gaming sector that is bound to change the gaming experience for players. The integration of AI in video games is already well underway, with the behaviour of Non-Player Characters (NPCs) and the creation of dynamic narratives and game worlds bearing the marks of this innovative technology. Therefore, AI is enabling the development of more creative, realistic and responsive games that are far more immersive and entertaining than their predecessors.
Gaming aside, there are many other consumer tech areas where AI is expected to bring major transformations. Tech giants like Apple, Meta, Google and others who are currently experimenting with AI tools are going to cement their dominance in this space, using AI to drive software innovation and develop unique features for the products and services they offer. Personal devices like smartphones, laptops, and so on will also become smarter with the help of AI. Functionalities like AI voice assistants and smart photography are just scratching the surface of how far AI can go in enhancing the efficiency of our gadgets.
Tech for seniors
Until not so long ago, tech devices and applications were largely regarded as the preserve of the younger generation, with older demographics considered not tech-savvy enough to take advantage of the perks they offered. But things have changed considerably over the past years, and as technology continues to penetrate all areas of activity, the older generations are bound to become more digitally literate.
On one hand, this is the natural progression of things, since the demographics which have adopted technology early on are getting older. On the other hand, gadgets and tech solutions are becoming more user-friendly, making it easier for seniors to familiarize themselves with new technologies and integrate them into their daily lives. What’s more, we might see tech companies develop products that specifically target older categories of consumers, removing age-related barriers in consumer technology.
The rise of refurbished phones
Smart tech devices, once the mark of wealth and luxury, are now must-haves in a world dominated by digitalization. However, for a large number of consumers, the latest smartphone models are far too expensive and therefore out of reach. At the same time, consumers are becoming more conscious of their purchasing habits and their impact on the environment.
One way to reconcile the ubiquity of smartphones with financial impediments and eco-conscious behaviour is to purchase refurbished or used devices. In 2023, the global market for refurbished smartphones was estimated at USD 76.45 billion in 2023 and is expected to reach 172 billion U.S. dollars by 2033, with a CAGR of 11.9%. Consumers’ interest in purchasing refurbished items is increasing as they’re looking for ways to stay up to date with the latest technology without breaking the bank, while also reducing their carbon footprint.
Home robots
AI advancements are also paving the path for greater adoption of home robots and potentially blur the lines between robotics and smart home functionalities in the future. Far from being a distant utopia, using household robots is a reality that can make people’s lives easier in so many ways.
However, the domestic robots available on the market right now perform single functions like cleaning and maintenance, offering companionship, security and surveillance, and so on. The next generation of robots is going to be a lot smarter and able to handle a wider and more complex range of tasks, offering more personalized assistance to users. So even though we haven’t yet reached the era of humanoid robots, the use of advanced robotics in our private spaces is expected to surge.
Wrapping up
As technology continues to evolve, the impact it has on various aspects of our lives becomes increasingly significant. These emerging trends promise to become game-changers in consumer technology and transform the way people conduct their daily activities, solving many of the issues we’re dealing with today. Therefore, we have all the reasons to get excited about future innovations and the changes they’re about to bring.
