Today: Apr 17, 2024

2024 trends: Gartner reveals game-changers for tech providers

2 months ago

TLDR:

Gartner has identified a number of key trends that will impact technology providers in 2024. These trends include the dominance of generative AI (GenAI) in shaping the strategies and tools used by tech providers, the need for tech providers to focus on efficient growth, the emergence of new enterprise IT-provider relationships, the growth of sustainable business practices, and the rise of personalised marketplace experiences. Other trends include the importance of AI safety, the impact of buyer pessimism on sales, the need for vertical generative AI models, the adoption of industry cloud platforms, and the convergence of product-led growth (PLG) and value in hybrid go-to-market strategies.

The dominance of GenAI in shaping the strategies and tools used by tech providers is a key trend identified by Gartner. GenAI is reshaping tech providers from their growth and product strategies down to the everyday tools used by associates. This trend highlights the increasing importance of AI in the tech industry and the need for tech providers to adapt to this new reality.

Efficient growth is another key trend identified by Gartner. In the past, high-tech companies pursued growth at all costs, but as macroeconomic conditions create uncertainty among buyers and increase costs of capital, tech providers are now focusing on efficient growth strategies that strengthen current margins and future revenue opportunities.

Another trend is the emergence of new enterprise IT-provider relationships. As business and technical demands increase, enterprise IT is being stretched thin, leading to the need for tech providers to create new relationships and revenue opportunities across the enterprise. This includes expanded provider roles within enterprise IT and the business, outcome-centric provider-enterprise relationships, and enterprise-wide tier-1 relationships.

Sustainable business practices are also becoming increasingly important for tech providers. Efforts to manage environmental, social, and governance (ESG) impacts have historically focused on mitigating internal risks and ensuring compliance. However, Gartner now emphasizes the need for tech providers to embrace double materiality and leverage emerging technologies to meet sustainability objectives.

Other trends identified by Gartner include the importance of AI safety in the face of rapid developments in GenAI technologies, the impact of buyer pessimism on tech providers’ sales pipelines, the need for vertical generative AI models to meet specific user requirements, the importance of offering services through personalised digital marketplaces, the adoption of industry cloud platforms to deliver business outcomes, and the convergence of product-led growth and value in hybrid go-to-market strategies.

Overall, these trends highlight the evolving technology landscape and the challenges and opportunities facing tech providers in the coming years.