Technology and business growth: an analysis of trends and investments in the sector for the second half of 2024

The high investment in Information Technology is already a reality in Brazil. According to information from the Brazilian Association of Software Companies (ABES), the country is among the 10 largest global IT markets, with a constant growth in the adoption of advanced technologies, reflecting the high demand for qualified professionals by the organizations existing here.

Recent data from Deloitte consultancy reveals that companies that prioritize technology and innovation achieve revenues and profitability twice as high as those that do not invest in these sectors. Gartner, in turn, also highlighted the growing importance of IT. According to projections, by the end of 2024, global IT spending should reach US$5.26 trillion, representing an increase of 7.5% compared to 2023.

Overall, the accelerated expansion of technologies strongly impacts the market. A study by the Boston Consulting Group (BCG), which surveyed 1,400 C-Level executives in 50 markets and 14 sectors, showed that 86% consider technology a significant opportunity and 75% plan to increase their investments in this sector this year. This highlights the need to be aware of market trends and integrate innovations into business strategies. After all, the adoption of new technologies offers numerous positive impacts, such as reducing costs, improving operational efficiency and increasing competitiveness. 

Key trends for the coming months

With a busy first semester, full of debates, innovations and new demands in the sector tech, tech the trends forecast between 2023 and 2024 have been refined and adapted to the new needs. From these analyzes, it is possible to highlight:

• Adaptation and increased use of AI 

One of the segments that will continue to attract substantial investment is the Artificial Intelligence (AI)in addition to facilitating routine tasks quickly and accurately, AI reduces the complexity of bureaucratic processes and activities in companies.In 2024, the Generative Artificial Intelligence (IA gen), which goes beyond simple analysis and automation, has also gained prominence, creating innovative content and solutions. Large language models (LLMs) and advanced machine learning techniques allow the production of original insights, automation of creative processes and personalization of experiences in a more intuitive and efficient way.

However, the increasing use of AI requires workers to develop new skills. Georgios Petropoulos, a researcher at MIT, points out that workers with medium qualifications are at risk of being replaced by technology or by professionals who know how to operate it. 

In this sense, it is likely that AI qualification courses will have high demand in the coming months, a movement also driven by the increase in the use of AI by sectors outside tech. Another relevant point that should contribute to increasing the use of this technology is that, in Brazil, the New Brazilian Plan of Artificial Intelligence. The initiative provides for the contribution of R$1.76 billion for the improvement of public services. 

However, we know that AI does not walk alone: the importance of hiring and qualifying professionals who not only understand current technologies, but are also prepared to adapt and learn emerging innovations is highlighted by several industry studies. According to the McKinsey report, companies that invest in training and development of technological skills tend to have a 45% better performance in the market than those that do not invest. The LinkedIn’s Workplace Learning Report reveals that 94% of respondents stated that they would stay longer in a company if it invested in their learning and development.

The need for continuous skill improvement is underlined by the rapid evolution of technologies, which transform business models and operations. 

• Increased cybersecurity investments 

With hacking attacks, cyber scams, the spread of images and fake news, cyber blackouts, among other challenges, cybersecurity investment has become a priority demand for organizations. According to a recent study released by Ernst & Young (EY), cybersecurity is currently the second priority of AI investments for CEOs, second only to productivity.

• Data handling and protection

Defined as raw material of information”, data is the raw knowledge, not yet properly treated, that people and institutions produce, share and make available, often being used as providers of insights and main source guidance of actions by companies. Not by chance, the handling, treatment and security of this information becomes an increasingly necessary practice. Debates on the subject, as seen recently in the episode in which the Government banned the company Meta from using Brazilian data in AIs, as well as the end of third-party cookies, will be seen more often in the coming months, demanding new additions to the legislation on its use in the coming years.

• Increased use of cloud computing (cloud computing) 

Cloud technology (cloud computing) refers to the infrastructure that offers computing services over the internet, dispensing with the need for physical data centers. With an ever-evolving demand, cloud computing is projected for continuous growth, especially among companies that adopt multi-cloud and hybrid strategies. These companies combine local infrastructures with several cloud platforms to achieve greater flexibility and security. According to an IDC survey, by the end of 2024, the cloud data solutions market in Brazil is expected to reach US$1.5 bi and this accelerated growth trend is expected to continue in the coming years.

Therefore, as in the first semester, the second will bring the continuity of advances and investments in technology and industry 4.0, but more broadly and concretely.In these coming months, we should observe the application of capital in the area by companies from various sectors, regardless of having technology as a core business, covering both private and public entities. 

It is essential to recognize the role of Information Technology as an integral part of business strategy and to ally with it. We must strive to study and monitor its innovations, constantly improving our skills. Thus, it is possible to practically boost the results of companies, as well as contribute to the progress of society as a whole.