How will technology affect the workplace in 2024?

The impact of technology on the workplace in 2023 is undeniable. From the integration of generative AI platforms like ChatGPT to the rise of data breaches in the industry, staying up to date with the changing trends seems like a full-time job.

In its first annual report on the topic, Tech.co - a UK-based technology media company that provides news, analysis and guidance on the latest technology trends - has undertaken a journey to research and analyse a range of workplace trends and noted the influence of technology as a key factor.

Accordingly, more than 1,000 US business leaders participated in the survey, to ensure accurate description of technology development trends in the workplace and help organizations develop strategies for 2024 and beyond.

Here are 7 key findings from the Tech.co 2024 Workplace Impact Report:

1. Using more collaboration tools and AI will lead to higher productivity

The use of online tools and digital resources is certainly no stranger to the business world. In 2023, innovative collaboration tools and AI platforms took this usage to the next level, adding a range of powerful functions to the day-to-day operations of businesses.

But do they actually work? According to Tech.co research, more than half of businesses (56%) report high levels of productivity, so it seems like this type of technology is having a positive impact.

More specifically, the use of AI platforms and features has significantly improved productivity for businesses of all sizes. Tech.co research found that 72% of respondents who used AI extensively said their company was more productive, compared to 55% of those who used AI sparingly.

2. 59% of AI users are more satisfied with their jobs

No one can deny the explosion of AI in the workplace in 2023. As the technology becomes advanced enough to handle certain operations, businesses start integrating it into their systems in hopes of improving productivity. This is a trend that will definitely continue in 2024 and beyond.

So how do employees who are encouraged to use technology feel about the rapid rise of AI in the workplace? While many reports suggest that workers are fearful of AI and fear it will take their jobs, Tech.co’s research actually found that 59% of people who use AI feel satisfied with their jobs, allaying those concerns.

This suggests that businesses should feel more comfortable implementing the technology in 2024, as many have yet to fully embrace AI. In fact, Tech.co’s survey found that only 1 in 25 companies have fully integrated AI across their entire organization.

3. ChatGPT is the most popular AI tool used by businesses

In November 2022, the birth of ChatGPT created a turning point in the field of artificial intelligence. The value of this breakthrough technology was quickly recognized, and businesses raced to find ways to take advantage of ChatGPT's features to improve work and optimize processes.

In 2023, a series of formidable competitors of ChatGPT from technology giants such as Google and Microsoft appeared. Bard, Copilot, Claude, Jasper... each name has its own strengths, but the dominance still belongs to ChatGPT.

Tech.co research shows that 65% of businesses use ChatGPT, far ahead of second-place competitor Google’s Bard at 49%. Other options like Bing AI Chat (20%), Claude AI (10%), Jasper Chat (9%), and less popular platforms (8%) make up the remaining market share.

This result shows the overwhelming strength of ChatGPT in the artificial intelligence race in 2023. Will competitors be able to overthrow ChatGPT in the future? Let's wait for the next exciting developments in the coming time.

4. The appeal of remote work: The key to easy recruitment

In 2023, the phenomenon of the great labor crisis became a huge trend, with a series of employees quitting their jobs after experiencing the flexibility of remote work during the Covid-19 pandemic. This made it difficult for many companies to recruit new staff.

However, not all companies are having trouble attracting talent. In particular, organizations that offer remote work are finding it much easier to hire than businesses that are entirely in-office or even hybrid.

In other words, if the office work policy is important to employees, then employee retention should be a top priority for the leadership team. Most companies have difficulty hiring new employees, but remote organizations find it easier.

5. 4-day work week: The new craze in the corporate world and young tech-savvy people

In an era where remote and hybrid work has become the “new normal,” one perk that promises to bring many exciting things to employees is the 4-day workweek. Numerous studies have shown that reducing the workday while maintaining the same salary has a significant positive impact on productivity, employee happiness, turnover, and absenteeism.

Many business owners and decision makers are becoming more open to the idea, but acceptance also varies by age. Tech.co research found that 65% of senior executives aged 35-44 would consider implementing a four-day workweek or have already implemented one, compared to just 45% of senior executives aged 55-64.

Age aside, business owners of companies using AI are fully embracing this new work policy. Surprisingly, 93% of senior leaders of organizations where AI plays a core role in operations are considering or have implemented a 4-day work week.

In fact, many companies have adopted a 4-day work week and some states in the US have 4-day work policies for their employees. So if you're tired of working on Fridays, the world has some exciting opportunities for you.

6. Remote working businesses are more productive

Since the pandemic, remote work has become the new norm for many businesses. Tech.co research shows that nearly all businesses have tools to support remote work, from video conferencing software to project tracking services.

Remote work has some surprising benefits, including improved mental health and employee productivity. Tech.co research found that 64% of remote businesses reported higher productivity levels than 54% of in-office businesses. In short, remote work benefits both businesses and employees.

However, despite all the research showing that remote work is beneficial for both parties, some business owners are starting to ask their employees to return to the office. Tech.co research shows that by 2023, more than half of companies (52%) expect their employees to be in the office five days a week.

The difference between remote and hybrid work policies is also notable here, with 38% of employees at hybrid organizations coming into the office more often than required by company policy. This suggests that strict return-to-office policies may not be necessary in some cases, as employees will still come into work if necessary.

7. Phishing attacks are the most common cause of data breaches

Not all technological advances have been good for the workplace. Along with the development of technology, hackers have also increased their attacks, leading to cybersecurity crises that have cost businesses millions of dollars.

According to a Tech.co survey of senior leaders, 23% of data breaches stem from phishing attacks, followed by computer viruses (22%), followed by employee mistakes (12%), hidden threats (9%) and unsecured Wi-Fi networks (8%).

In short, protecting your online business should be a top priority in the new year 2024, especially if your business holds a lot of sensitive information.