With the launch of OpenAI’s ChatGPT, 2023 was seen by many as a critical year in the AI revolution. According to McKinsey, Generative AI could add as much as US$4.4 trillion in economic value whether from specific or more widespread uses that can increase productivity; no wonder businesses worldwide are already jumping on board to harness its seismic potential.
AI was front and centre at this year’s Consumer Electronics Show (CES), the world’s largest tech conference that, in just over half a century, has become the world’s preeminent meeting place for tech companies, multinationals and start-ups to discuss all things technology.
In January this year, CES 2024 saw over 135,000 attendees, 1,400 start-ups and 4300 exhibitors, underlining its rapid progress towards becoming the ‘Davos’ of the tech world.
Our experts look at five emerging trends from the event.
AI is accelerating, and will be adopted across sectors
Fuelled by breakthroughs in semi-conductors and software, AI is rapidly being deployed across all sectors. Corporates are aligning with new and existing players to understand how to harness AI and technology as a strategic differentiator.
A keynote speech from Walmart put AI at the heart of its vision for the future of retail, with new AI-powered tools to enhance the consumer shopping experience. For example, a new generative AI search feature allows customers to search for products by use cases, while AI is also transforming how companies manage the replenishment of frequently ordered items.
Barbara Nash, Head of Technology, Media and Telecoms, BNP Paribas Americas, notes: “The use of AI is pervading businesses in a variety of sectors. In speaking to our clients, we see technological breakthroughs in AI translating into real-world applications, particularly to improve and enhance the customer experience. There are still questions regarding the effect of AI on jobs, on data privacy and more, so 2024 will be another year to watch.”
Matthieu Soulé, Head of BNP Paribas C.Lab Americas, comments: “This year we saw a real acceleration in how companies are adopting AI-based solutions. From L’Oréal in the beauty world to Siemens in factories, the AI revolution is well underway – but no-one can do it alone. Success will hinge on alliances between technology giants and with start-ups, and a critical analysis of use cases to refine and expand technologies across sectors.”
❝ The AI revolution is well underway, but no-one can do it alone. Success will hinge on alliances between technology giants and with start-ups, and a critical analysis of use cases to refine and expand technologies across sectors. ❞
The mobility and energy ecosystems continue to merge
The announcement of Tesla’s partnership with Samsung’s SmartThings Energy showcased a vision of a fully integrated smart home and energy platform. SmartThings Energy will connect to Tesla Powerwall, Solar Inverter, Wall Connector charging and EVs, offering users display information on their energy production, storage and usage, as well alerts to better prepare for storms and power outages.
EVs were front and centre at CES, with Caterpillar showcasing the first fully electric construction equipment; while a partnership between Bosch and Volkswagen unveiled autonomous EV parking, thanks to a charging robot that automatically plugs into the vehicle once its charged.
Joachim Reinboth, Co-Head of Automotive and Mobility Services, BNP Paribas CIB, notes: “CES this year was a good illustration of how technology is shaping our lives now, not just in the future. It showcased interesting technologies that truly merge the world of auto and energy, including exciting developments around inductive charging and autonomous parking. This is technology that exists and is going into series production, ensuring users benefit from a smart, seamless and efficient user experience, which in turn will pave the way for more sustainable energy systems in the long term. Tech and automotive players are thinking bigger, expanding their offering, and engaging in strategic partnerships to share knowledge and expertise. This will remain crucial as the ecosystem continues to evolve.“
❝ Tech and automotive players are thinking bigger, expanding their offering, and engaging in strategic partnerships to share knowledge and expertise. This will remain crucial as the ecosystem continues to evolve. ❞
Autonomous vehicles are gaining momentum
From new players in autonomous trucks used for goods delivery, to Walmart’s expansion of drone delivery in the US, the retail sector is adopting autonomous vehicles at an accelerated pace.
It didn’t stop there. HD Hyundai showcased its autonomous construction vehicles, while John Deere unveiled its connected digital solutions linked to autonomous tractors.
Image credit: Consumer Technology Association 2024
Technology is enabling health self-diagnosis
New technologies are democratising how we diagnose and manage health conditions remotely. Devices on show included a 4-in-1 health check-up enabling physicians to receive patient data during remote consultations; and a touchless thermometer add-on for any smartphone with a USB-C device.
Other technologies on display included wearables that aim to actively reduce stress and pain thanks to stimulator technology, and headphones with the ability to track vitals while listening to music.
Navann Ty, Pharmaceuticals and Medtech Analyst, BNP Paribas Exane comments: “Technology is driving a significant evolution in healthcare, making it more accessible, mobile and in many cases more effective, as its closer to the patient’s voice. Digital health has the potential to reduce inequalities in access for women, rural communities, and other underserved groups, as well as help us all to take a more proactive approach to managing our health day-to-day through out-of-clinic devices, into the patient’s home, and through patient-generated health data.”
❝ Digital health has the potential to reduce inequalities in access for women, rural communities, and other underserved groups, as well as help us all to take a more proactive approach to managing our health day-to-day through out-of-clinic devices, into the patient’s home, and through patient-generated health data. ❞
Homes are becoming smarter
From an AI-powered mirror that offers light therapy and mindfulness exercises, to smart beds that can track health, smart, connected home devices were booming at this year’s event.
Safety was also a key theme: the Smart Nobi lamp can detect a fall and alert caregivers within 90 seconds; while the Dolphisonus device combines passive sonar technology with AI to detect the sound of a child falling into a pool.
Soulé continues: “In the coming years, we expect to see a rapid expansion in smart homes, where you can find connected devices in every room. While in recent years this was predominantly about comfort and user experience, this year we saw a big focus on safety and wellbeing, for humans and pets.”
“This year’s CES underlined, once again, the incredible pace and power with which technology is reshaping our business landscape, our society, and so many aspects of our day-to-day lives”, he concludes. “From flying car to video health diagnosis, events like CES help us to anticipate the future, then play our part in creating it.”
CES 2024 highlights
