As we bid farewell to 2023 and welcome the dawn of a new year, it’s time to reflect on the positive developments that lie ahead in 2024. From advancements in technology to economic growth, personal development, computing, space exploration, medical breakthroughs, and cultural evolution, there is much to look forward to. Let’s dive into what we can expect and what lessons we have learned from the past year. Photo by Andreas Rasmussen on Unsplash
Read these first:-
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- Happy New Year 2020: Learn, Adapt, Improvise and Move On
- Malaysia 101: Out of Modern Times: Dr M and Race-Based Politics
- Tech News 101: Huawei’s Harmony OS
Contents
Technological Advancements in 2024
Technology is evolving at a rapid pace, enabling faster change and progress, and creating new opportunities and challenges for businesses and individuals alike. In 2024, some of the new technology trends that emerged in 2023 will continue to evolve in 2024 namely:-
Generative-AI
Generative AI is a cutting-edge technology that enables machines to create content that resembles human-generated work, such as text, images, music, and more. It has revolutionized various industries by enabling innovative storytelling, data analysis, content creation, and more.
Generative AI is powered by advanced generative models, such as GPT-3.5, which was released by OpenAI in November 2022 and can generate coherent and diverse texts on any topic and even prompted some to say that it will replace humans in some work sectors. In some such as data science and content creation, it will enhance productivity and reduce time to crush the raw data into more comprehensive data as large operations like Google and Microsoft release their versions of AI tools.
Compared to 4G and LTE, which are in widespread use today, 5G is expected to have 100 times greater transmission speed (10 Gbps or more), 1/10 of the transmission delay (1 msec or less), and 100 times greater connection density (1 million units/km2 or more). In May 2018, NTT succeeded in the world’s first wireless 100 Gbps data transmission experiment. With 6G, transmission speed will be another 100 times faster, meaning it could reach 1 Tbps. Technical notes and image source: Orbray
5G Computing Power
Computing power has already established its place in the digital era, with almost every device and appliance being computerized with some of the powerful computing tools in our hands. We had 5G making inroads in 2022 and now there are talks of seeing the net generation in the form of 6G seeing a wider usage in 2024.
Computing power is generating more tech jobs in the industry but would require specialized qualifications for candidates to acquire. Some of the top job roles in computing power include Cloud Engineers and Cybersecurity Specialists.
Smart (er) Devices
Smart devices are devices that can connect to the internet and other devices, collect data, process information, and perform tasks autonomously or with minimal human intervention. They include smartphones, smartwatches, smart speakers, smart TVs, smart home appliances, smart cars, smart wearables, etc. Smart devices are becoming smarter with the help of artificial intelligence (AI), machine learning (ML), the Internet of Things (IoT), edge computing, etc.
Global Economic Growth 2024
According to the OECD, the global economy is expected to grow by 2.7% in 2024, which would be the slowest growth since 2020. The International Monetary Fund (IMF) also predicts a decline in global growth from 3% in 2023 to 2.9% in 2024. According to the OECD, Asia will continue to account for the majority of global growth in 2024 and 2025.
In about 30 years, China has put in the required effort, policies and strategies to be the number 1 economic global house. The next to watch is India which has caught up so much after Narendra Modi took over as the Prime Minister in 2014. Image source: Statista / World Economic Forum
According to the IMF’s projections, the top 10 fastest-growing economies in 2024 will be Bangladesh (8.1%), Ethiopia (7.9%), Rwanda (7.8%), India (7.5%), Vietnam (7%), Cambodia (6.8%), Tanzania (6.7%), Côte d’Ivoire (6.6%), Senegal (6.5%), and Ghana (6.4%).
According to various sources, Malaysia’s GDP growth for 2024 is projected to be between 4.3% and 5.5% which is higher than 2023’s 3.3%. This is based on the assumptions of improved economic momentum, recovery in external trade, affirmative government policies, and sustained development in domestic demand. However, these projections are subject to uncertainties and risks, such as the COVID-19 pandemic, geopolitical tensions, and environmental challenges.
National Security Threats in 2024
One major security threat that will be a major issue in Malaysia & the ASEAN region is transnational crime, which covers a wide range of illicit activities such as illicit drug trafficking, trafficking in persons, arms smuggling, sea piracy, money laundering, international economic crime, and cybercrime.
According to a study referenced in the Malaysia Cyber Security Strategy 2020-2024, Malaysia has the potential to lose RM51 billion due to cyber security incidents, which accounts for more than 4% of the country’s total gross domestic product. Similarly, trafficking in persons is a grave human rights violation that affects millions of people in Southeast Asia, especially women and children who are exploited for sexual or labour purposes.
According to the 2020 Trafficking in Persons Report by the US Department of State, six out of ten ASEAN member states are placed on Tier 2 or Tier 2 Watch List, indicating that they do not fully meet the minimum standards for the elimination of trafficking.
Humans last stepped on the moon on 19th December 1972 via the Apollo 17 mission. It has been more than 50 years since another human has stepped on our closest neighbour. It is said that the reasons why humans haven’t returned to the moon are due to budgetary and political, not scientific or technical reasons. Image source: Explore Deep Space/NASA
Space Explorations in 2024
In 2024, we can expect to see some exciting and ambitious space missions and projects that will advance our understanding of the universe and our place in it. Here are some of the major space exploration and advancements expected to happen in 2024:
- Artemis II – This will be the first crewed mission of NASA’s Artemis program, which aims to land the first woman and the first person of colour on the Moon by 2026. In 2024, Artemis II will launch the powerful Space Launch System (SLS) rocket and send four astronauts on a 10-day journey around the Moon.
- Gateway – NASA has announced that it plans to launch the first module of the Gateway lunar outpost in 2024. The Gateway is a small space station that will orbit the Moon and serve as a staging point for future lunar missions. It is part of the Artemis program.
- Mars Sample Return (MSR) – This will be a historic mission that will bring back the first samples of Martian rocks and soil to Earth for detailed analysis. The mission will involve three spacecraft: NASA’s Perseverance rover, which landed on Mars in February 2021; ESA’s Earth Return Orbiter (ERO), which will launch in 2022 and orbit Mars; and NASA’s Sample Retrieval Lander (SRL), which will launch in 2024 and deliver a fetch rover and a rocket to Mars. The current timeline for these missions is to launch the orbiter in 2027 and the lander in 2028, with the samples expected to arrive on Earth in 2033
- Space Tourism – In 2024, we can expect to see more flights of Virgin Galactic’s SpaceShipTwo, Blue Origin’s New Shepard, and SpaceX’s Starship, as well as new entrants such as Axiom Space, which plans to build a commercial module attached to the ISS.
These are just some of the major space exploration and advancements expected to happen in 2024. Many more missions and projects are being planned or developed by various countries and organizations around the world.
Sources: Forbes, NASA, GA Tech
Final Say
As we embark on a new year, it is essential to reflect on the lessons we have learned from the challenges faced in 2023. We must remember the importance of preparedness, adaptability, and resilience. The past year has taught us the value of community, the significance of mental health, and the need for sustainable practices.
Let us carry these lessons forward into 2024, ensuring that we do not repeat the mistakes of the past. By prioritizing collaboration, empathy, and innovation, we can build a better future for ourselves and future generations.
As we embrace the opportunities and challenges that await us in 2024, let us remain optimistic and determined. Happy New Year to all, and may this year be filled with progress, growth, and positive change!