Fourth Industrial Revolution

The top technology stories from 2024

Published · Updated
Satellite over the coast.

These are the Forum's standout technological development stories of this year. Image: Unsplash/SpaceX

Sebastian Buckup
Head of Network and Partnerships; Member of the Executive Committee, World Economic Forum
Cathy Li
Head, AI, Data and Metaverse; Member of the Executive Committee, World Economic Forum
  • Technological developments were a key topic in 2024, for global news and for the World Economic Forum.
  • From agritech advancements to progress on tackling the digital divide, here are some of our must-read stories from 2024.

1. The top emerging technologies from 2024

It's been a year of technology headlines. In June 2024, the Forum released its Top 10 Emerging Technologies of 2024 report.

Drawing on insights from scientists, researchers and futurists, the report identifies 10 technologies poised to significantly influence societies and economies within three to five years.

So what were some of the technologies identified?

  • AI for scientific discovery
  • Reconfigurable intelligent surfaces
  • Immersive technology for the built world
  • Carbon-capturing microbes
  • Alternative livestock feeds
Articles

How the Top 10 Emerging Technologies of 2024 will impact the world

Listen to the Radio Davos episode below to learn more about these technologies from the two lead authors of the report.

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2. Developing, scaling and governing AI use

AI has been a major focus point for governments, businesses and researchers for much of this year.

From AI safety treaties being signed (and rejected) to increases in investment in the technology and related start-ups, much has happened in this space over the past 12 months.

Faced with a record year for democracy, much attention has been focused on tackling disinformation campaigns ahead of elections.

The political misuse of AI poses severe risks, with the rapid spread of deepfakes and AI-generated content making it increasingly difficult for voters to discern truth from falsehood, potentially influencing voter behaviour and undermining the democratic process.

Articles

5 charts that show the state of global democracy in 2024

In May, the Forum's AI Governance Alliance convened a community meeting, bringing together 118 leaders from the public and private sectors, academia, and civil society for a full day of dialogue and work to advance the vision and objectives of the Alliance.

Discussions ranged from ensuring AI technologies are developed and deployed in ways that are inclusive and equitable, to the exploration of the convergence of AI with other frontier technologies. Learn more about the progress made at the meeting in the article below.

The Alliance also published three reports in January that provided recommendations for constructing secure systems and technologies, you can read about their key findings here.

In October the Alliance released Governance in the Age of Generative AI: A 360° Approach for Resilient Policy and Regulation. This white paper equips policymakers and regulators with implementable strategies for resilient generative AI governance, framed within a 360-degree governance approach.

A graphic outlining a 360º approach for resilient policy and regulation.
How to build resilient governance that facilitates AI innovation while mitigating risks. Image: World Economic Forum/Accenture

A paper on the evolution and impact of AI agents, published in December by the Alliance, looked at how these autonomous systems can enhance efficiency across sectors, including healthcare, education and finance.

The paper highlighted ethical considerations such as transparency and accountability and emphasized the need for robust governance frameworks and cross-sector collaboration.

Through this, stakeholders can responsibly leverage these systems to drive innovation, improve practices and enhance quality of life.

A graphic detailing the key components of advanced AI agents.
A simplified overview of the key components leading to current breakthroughs in AI agents and their growing range of capabilities. Image: World Economic Forum

3. Developments in space technology

Space technologies can help society tackle many of the world's most pressing challenges. Not only can this improve life on Earth, but it's also a huge economic opportunity.

Lower costs and improved access to space-enabled technologies such as communications; positioning, navigation and timing; and Earth observation services could take the global space economy to $1.8 trillion by 2035, according to a report from the Forum and McKinsey & Company.

The earth observation (EO) sector alone is projected to surpass $700 billion while directly contributing to the abatement of 2 gigatonnes of greenhouse gases annually, according to the Forum's Amplifying the Global Value of Earth Observation report released in May.

A graphic showing the potential of remotely-sensed Earth Observation technology.
Remotely-sensed earth observation has a range of applications. Image: World Economic Forum

Learn more about the latest space sector developments and aims in this episode of Radio Davos with NASA Chief Economist Alexander MacDonald and the Forum's Lead of Space Technology at the Forum, Nikolai Khlystov.

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4. Meteoric rise of the metaverse

The metaverse, poised to redefine the internet, intertwines the digital and physical, emphasizing the pivotal role of “identity” in shaping immersive, human-centric experiences.

Pillars of metaverse identity.
Breaking the metaverse down. Image: World Economic Forum, Accenture

As the metaverse evolves, comprehensively understanding identity is crucial for its potential to revolutionize how people interact and express themselves digitally, facilitating a space that respects privacy, security and human rights. Find out more in this Forum report below.

At the brink of a new phase of the industrial revolution, the metaverse stands as a catalyst for change, offering novel ways to merge digital and physical realms, enhance operational efficiency and create value.

A report produced by the Forum and Accenture earlier this year titled Navigating the Industrial Metaverse: A Blueprint for Future Innovations forecasts the metaverse as a $100 billion global market by 2030.

Find out how society can balance economic growth with sustainability and human-centric values in the development of this technology, in the report below.

5. How agritech is revolutionizing food production

The changing climate is making farming an increasingly difficult profession.

Understanding the difference between weather and climate is vital for farmers as they adjust their operations to keep pace with a changing world.
Understanding the difference between weather and climate is vital for farmers as they adjust their operations to keep pace with a changing world. Image: European Space Agency

Agritech services are one solution that is helping farmers adapt to today's harsh climate.

These technologies are reshaping the agriculture and food sector by enabling sustainable farm operations and efficient supply chains, according to the Forum's Agritech: Shaping Agriculture in Emerging Economies, Today and Tomorrow report.

From building data banks with AI to creating intelligent yearly crop plans, agritech services are helping the industry to meet the growing food demands of the expanding global population.

6. How close are we to digital inclusion?

The reality that nearly a third of the world’s population, or approximately 2.6 billion people, remain offline is a concern.

This digital divide results in disproportionate access to essential life services, ultimately resulting in inadequate or poor living conditions for those living in the developing world.

So how can we bridge this digital divide?

The Forum's EDISON Alliance released its annual impact report in January, highlighting the progress made and the critical need for continued commitment to achieving universal digital inclusion as a fundamental enabler of the Sustainable Development Goals.

A graphic offering solutions for bridging the digital divide.
How we can bridge the digital divide. Image: EDISON Alliance

Read more about the EDISON Alliance's impact in the report here.

Discover

EDISON Alliance: What is the Forum doing to close the digital gap?

Related topics:
Fourth Industrial RevolutionEmerging Technologies
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Contents
1. The top emerging technologies from 20242. Developing, scaling and governing AI use3. Developments in space technology4. Meteoric rise of the metaverse5. How agritech is revolutionizing food production6. How close are we to digital inclusion?

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Centre for the Fourth Industrial Revolution

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