Donald Day, Chief Operating Officer of VDX, shared his insights on the year that was and their bold predictions for 2024

TNGlobal asked Donald Day, Chief Operating Officer of VDX, to share his insights on the year that was and their bold predictions for 2024. Here’s what Donald has to say.

Q: What technology trend has made the biggest impact in 2023, and why?

A: Surely, ArtificialIntelligence, MachineLearning, and LargeLanguageModels have been some of the key trends that captured people’s attention. ChatGPT and an increasing number of similar tools often specialized to a specific area, have seen explosive growth and usage. Other areas, such as “Metaverse”, have largely been side-lined and have for the most part ceased to be of any importance.

Regarding digital assets, areas that were overhyped and little understood (such as #NFTs) have equally seen largely compressed volumes. In the area of digital assets, stable regulation is leading to increased institutional adoption, coupled with robust enforcement actions taken against those entities and people who believe they can act in contravention of legal and regulatory requirements. There are now a lot of developments, most under the radar, which are putting in place the supply chain of digital assets.

Q: What are your bold predictions for 2024? What tech trends and innovations should we keep an eye on, and why?

A: AI will evolve at an accelerating pace, surprising (and scaring) many people. Obvious examples include imaging, music, stock analysis, balance sheet analysis, and accounting.

At the same time, the limitations will become increasingly obvious, and the current bubble will burst of course (#VentureCapitalists, don’t be surprised!) It all comes down to the data. Many areas where currently AI seems to deliver stunning results, will be identified as human-only areas.

Digital assets will mature, and the focus will shift from limited-to-no-value fringe areas (Bored Apes Yacht Club, anyone?) to real value. Opportunities in digital assets abound but usually are not found where everyone expects them to be.