It is true that the technological future of our planet is unpredictable and new developments are made every day. But when looking into a potential outlook of the next four years, it can be very helpful to understand the macro and micro changes that will shape this future. In this article, we explore the macro and micro outlook of the year 2024, from Mish’s Outlook.
At a macro level, several key forces are predicted to shape our global economy in 2024. These include a global shift towards greener technologies, an increased focus on global supply chains, and the continued rise of the Fourth Industrial Revolution. Recent technological developments, such as 5G, AI, and the Internet of Things (IoT), are predicted to become more commonplace, as they offer significant economic advantages to those who are able to harness them.
At a more detailed micro level, Mish’s Outlook 2024 emphasizes that these macro forces will put pressure on businesses to become more digital – transforming or replacing their existing business models and processes. Cloud computing, robotics, edge computing, and blockchain are all predicted to offer opportunities for businesses to maximize their efficiency. Organizations must also be prepared to respond to changing customer needs and preferences, including increased demands for faster digital services.
To understand these changes more closely and in an overarching framework, Mish’s Outlook 2024 highlights five distinct areas of focus: (1) Collaboration and Cooperation, (2) Preliminary Steps Towards the Digital Economy, (3) Accelerating Digital Transformation, (4) Emergence of the Ubiquitous Environment, and (5) Regulating the Emerging Paradigm. These five categories are intended to ensure that businesses have an organized approach to digital transformation while taking into consideration the changes at both the macro and micro level.
As we look to the future of our economy in 2024 and beyond, it is important to appreciate the macro and micro changes that will be taking place. We must understand both the big picture changes that will be shaping our economy, as well as more detailed ones that will be impacting our businesses on a day-to-day basis. Mish’s Outlook 2024 provides an insightful overview of these changes and offers an invaluable insight into the trends shaping our economy over the next four years.