Tech Predictions 2024: How Did I Do?
David Richards MBE
Co-Founder @ Yorkshire AI Labs LLP | Revolutionising Venture Capital | Philanthropy
At the start of every year, it’s always fascinating to look at where technology might take us. Twelve months on, it’s worth stepping back and asking: What actually happened? Looking back on my predictions for 2024, some trends played out as expected, others are still emerging, and a couple are moving slower than I’d hoped. Here’s how I think we did.
1. AI in Manufacturing – The Big Productivity Leap
I predicted that AI and machine learning would drive real productivity gains, particularly in manufacturing. This wasn’t about replacing humans but working alongside them to improve efficiency and streamline processes.
Verdict: Spot on.
• IntelliAM AI PLC 's IPO in July showcased how AI is being applied to enhance manufacturing productivity.
• @Siemens’ Factory of the Future is a brilliant example of AI optimizing processes, cutting defects, and showing how humans and machines can work smarter together.
AI isn’t about taking jobs – it’s about making work better.
2. A Manufacturing Renaissance and Onshoring
I hoped to see a renaissance in manufacturing, with less labour-intensive, tech-driven processes enabling production to be brought back onshore – creating high-quality jobs in the UK.
Verdict: Partially correct.
• Globally, onshoring is gaining momentum, especially in semiconductors and advanced manufacturing.
• However, while the conversations are happening, job creation has been slower than expected.
The foundations are there – now we need to accelerate progress.
3. NFTs for Fractional Ownership – Real Utility Emerging
I argued that NFTs would move beyond cartoon avatars and find serious use in fractional ownership of physical assets.
Verdict: Slow-moving, but promising signs.
• @RealT tokenises real estate, letting investors own fractional shares and earn rental income.
• Platforms like Courtyard.io allow people to trade NFTs representing physical collectibles, securely stored in vaults.
• WiV Technology is doing something similar for fine wines.
This is NFTs showing real-world utility, unlocking liquidity in traditionally illiquid assets.
4. Copyright and AI – The Battle Begins
I said that copyright and AI would be one of the biggest debates of the year, and that’s exactly what we’ve seen.
Verdict: Spot on.
• The New York Times lawsuit against OpenAI highlighted how AI models use copyrighted content to train without permission.
• Platforms like Getty Images have taken legal action as AI image generators produce content eerily similar to copyrighted works.
Users are now noticing AI-generated doppelgangers of themselves – and the backlash is only just beginning. This is a debate that will rage on into 2025.
5. Gambling Regulation in the UK – Still a Long Way to Go
I hoped to see real progress in regulating the gambling industry, which remains far too loose.
Verdict: Still more hope than reality.
• Gambling companies continue to bombard users with free bets, notifications, and predatory offers. Watching a Premier League match still means seeing gambling ads every 21 seconds.
• Compare that to the financial sector, where clear risk warnings and safeguards are mandatory.
It’s time for the gambling industry to face the same level of accountability.
Looking Ahead to 2025
Reflecting on the year, I’m pleased with how AI and the copyright debate unfolded – they were exactly where I thought they’d be. Onshoring and NFTs are slower than expected but undeniably moving in the right direction.
Later this week, I’ll share my tech predictions for 2025.