CompTIA’s “IT Industry Outlook 2024”

The explosion of generative artificial intelligence (AI), the enormity of cybersecurity issues and the evolution of hiring and retention practices are among the trends expected to impact the information technology (IT) industry and workforce in 2024, a new report released today by CompTIA reveals.

CompTIA’s “IT Industry Outlook 2024” examines 10 trends that will shape the ongoing story of technology evolution, from the strategic and tactical sides of the technology industry, the workplace and society.

10 Trends to Watch in 2024

1. AI Hype Fades, but Workflows Continue Evolving
2. Tech Providers Use AI to Run Better Businesses
3. Governance Becomes Focal Point for Cybersecurity and Data Operations
4. Beyond-the-Basics Cybersecurity Becomes a Channel Skills Imperative
5. Cloud Architecture Accelerates Solution Complexity
6. IT Distributors Burning Role as Online Marketplace for B2B
7. Marketing Has Its Moment as an IT Business Differentiator
8. Productivity is the Driver for Digital Transformation
9. Organizations Practice Skills-Based Career Transparency
10. Companies Pursue Every Age Cohort for Staff, Customers

“Companies and individuals in the technology arena will have to decide for themselves which focus areas make the most sense for the goals they are trying to accomplish, whether that’s revenue growth, professional development, product innovation or more,” said Seth Robinson, vice president, industry research, CompTIA. “The tools and the knowledge are there for the taking.”

For example, a wide range of business applications that incorporate AI as a feature are likely to emerge in 2024. Just over 20% of companies are aggressively pursuing integration of AI across a variety of technology products and business workflows. Another 62% intend to step up their adoption of AI. This early stage of workflow evolution will see AI handling routine tasks and accelerating automation, freeing up human resources to pursue more strategic goals.

Also expected to accelerate in 2024 is the moved toward skills-based hiring, where individual skills are clearly defined for job roles and candidates are evaluated on their expertise in those skills. This allows employers to access a broader, more diverse pool of candidates. Nearly 40% of companies say they have well defined guidelines based on skills.

“Extending the skills-based approach beyond hiring into career development is the next natural step,” said Carolyn April, senior director, industry analysis, CompTIA. “Companies will also begin practicing career transparency, ensuring that personnel managers have regular conversations that clearly outline for their employees the pathways to promotion or job mobility.”

Seven in 10 IT professionals are very or fairly optimistic about their career paths, their company’s trajectory and the broader technology industry. The downside to the IT work environment is stress, caused by a tech environment that’s grown in complexity, the constant threat of cybersecurity attacks and worries tied to outsourcing of some job roles.

Among technology companies, most take a positive view of their 2024 prospects. A net 68% feel very good or pretty good, predicated mainly on making improvements to their business and delivering on sales goals in 2024. Pessimism falls squarely on external factors such as inflation and the ongoing labor crunch.