The technology industry continues to grow and evolve at a rapid pace. With emerging technologies like artificial intelligence, quantum computing, and 5G connectivity shaping the future, many technology companies are on the rise and poised for big things in 2024. In this article, we highlight 10 technology companies that are worth watching closely over the next year.
- Anthropic
Anthropic is an AI safety startup to keep on your radar in 2024. Founded in 2021 by former OpenAI leaders like Dario Amodei and Daniela Amodei, Anthropic aims to ensure safe and beneficial artificial general intelligence. The company has raised over $300 million and develops a technique called constitutional AI for placing positive constraints on AI systems. With top AI researchers and scientists, Anthropic develops AI assistants focused on safety while still aiming for human-level performance. The company’s recently released AI assistant Claude demonstrates its promising technology for aligning AI models with human values and safety considerations.
- Scale AI
Scale AI, a startup application company focused on training huge datasets for machine learning and AI projects, stands out as a leader in data annotation and labeling. The company supports major enterprises like Airbnb, Nvidia, Waymo, Toyota, and General Motors with data infrastructure needs. In 2021, Scale AI achieved unicorn status with a valuation over $7 billion. As AI and machine learning advance and require ever-growing training datasets, Scale AI’s data labeling and annotation platform should continue seeing strong demand in 2024 and beyond.
- SpaceX
As one of the world’s most famous private space companies, SpaceX enters 2024 firing on all rockets. With its Starship vehicle development ongoing and more affordable space launches than competitors, SpaceX looks to capitalize on growing commercial interest in space travel and exploration. And its satellite broadband project Starlink, which aims to provide global high-speed Internet through its vast satellite constellation, could disrupt traditional telecoms and Internet providers. With ambitious founder Elon Musk leading the charge, anything seems possible for SpaceX in 2024.
- Impossible Foods
Leading the food tech and alternative protein sectors stands Impossible Foods, makers of the popular plant-based Impossible Burger. With investment from backers like Bill Gates and Khosla Ventures totaling $1.5 billion, Impossible Foods seeks to meet increasing consumer demand for sustainable meat alternatives using breakthrough biotech and food science. Creative dishes like Impossible meatballs, pork products, and chicken nuggets show the wide market potential. As the company brings down prices and expands availability in 2024, expect its plant-based products in many more restaurants and grocery stores globally.
- Klarna
The buy now, pay later financing app Klarna has exponentially grown over the last few years across Europe and North America, especially among millennial and Gen Z shoppers wanting payment flexibility and transparency. The Swedish fintech company now serves over 147 million customers and processes nearly 2 million transactions daily, partnering with major retailers like H&M, Macys, Sephora and Wayfair. With smoothing financing options that can increase average order value and consumer loyalty for retailers, forecasters predict massive growth ahead as newer BNPL user generations come of age in an increasingly cashless economy.
- Redwood Materials
Leading the electric vehicle market’s sustainability push, Redwood Materials takes a circular economy approach to EV battery recycling and production. Founded by former Tesla CTO JB Straubel, the company aims to create a fully-closed loop domestic battery supply chain. Besides recycling and processing thousands of tons of discarded EV and electronics batteries for raw materials, Redwood announced plans in 2022 to directly manufacture new EV battery cells. Its first manufacturing facility is expected to open in 2024. Redwood’s model offers national security and environmental benefits at a time when domestic battery production is severely lacking.
- Stripe
The digital payments platform Stripe continues seeing skyrocketing demand as ecommerce grows worldwide. Its tools allow millions of online businesses worldwide to easily process and analyze payments securely. Over $120 billion in transactions flowed through Stripe in 2021. Highly valued at $95 billion, rumors suggest Stripe may go public in 2024 or 2025. With expected strong revenue growth and investments in emerging tools for cryptocurrency transactions, subscription billing management, identifying fraud, Stripe looks to widen its considerable lead in seamless payments processing for online businesses in 2024.
- Epic Games
Powering the phenomenally popular online video game Fortnite and providing Unreal Engine for stunning 3D graphics and animations used even by film studios like Disney, Epic Games enters 2024 solidly leading gaming universe and metaverse development. Predictions suggest Epic Games may try launching an IPO or direct listing as early as 2024. The company also continues investing heavily in growing its metaverse platform and recently raised $2 billion more at a $31.5 billion valuation. As gaming, virtual worlds and digital assets grow more mainstream, Epic Games’ crucial role in multiverse foundations positions it to help shape and dominate the internet future central to Web 3.0.
- Darktrace
On the cybersecurity front amidst increasing threats, Darktrace stands out using artificial intelligence algorithms modelled after the human immune system to detect in-progress cyber-attacks and data breaches. The UK-based company focuses on large enterprises but also serves over 6,500 small and mid-size organizations across the globe. Darktrace’s Cyber AI Analyst tool even autonomously responds to contain identified threats. Its self-learning technology continually updates against emerging dangers without needing manual software updates. With cybercrime damages expected to cost $10.5 trillion annually by 2025, Darktrace seems poised to grow substantially while helping organizations actively defend through true cyber security AI.
- Space Perspective
Pioneering luxury space-travel experiences for non-astronauts, Space Perspective plans to begin ticketing in 2024 for its Spaceship Neptune capsule’s inaugural flights. Propelled by an advanced space balloon bigger than a football stadium without noisy rockets or turbulence risks, passengers will embark on six-hour trips high in the stratosphere for serene star-gazing in the smooth-sailing capsule’s lounge-style cabin complete with a bar and bathroom. Backed by over $40 million in venture capital, Space Perspective provides space-tourism’s safest, gentlest, and most sustainable flights. As interest in ground-breaking space adventures for regular citizens spikes, Space Perspective offers incredible near space-travel glimpses in 2024 like never before possible.
Looking Ahead to 2024 These technology companies represent innovative sectors from AI safety and clean transport batteries to plant-based foods and fintech. Poised for considerable impact and growth in 2024, they lead development of emerging technologies that will undoubtedly continue changing how we live and work globally over the next few decades in mostly positive ways. Pay attention now to these rising industry stars before they likely become household tech names in the near future!