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CES 2024: Artificial Intelligence Dominates Tech Trends

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CES 2024

From a fitness treadmill designed for manual wheelchairs to the first companion robot equipped with Chat GPT (10.800, 0.00, 0.00%)… This week, over 4,000 exhibitors from around the world gathered in Las Vegas, USA, for the 58th International Consumer Electronics Show (CES) from January 9 to 12, showcasing the latest technological trends and product releases.

Ubiquitous AI

On January 8, NVIDIA is set to hold a press conference, expected to unveil three super GPUs: RTX 4080 Super, 4070 Ti Super, and 4070 Super. On the same day, Intel will collaborate with partners Dell, HP, Lenovo, and Microsoft to promote AI computers.

On December 14 of the previous year, Intel hosted an event in New York named “Let AI Be Everywhere,” introducing a range of AI product combinations, including the Intel Core Ultra processor, the fifth-generation Intel Xeon Scalable processor, and a preview of the upcoming Intel Gaudi 3 accelerator.

From chip companies to home appliance manufacturers and automobile makers, everyone is talking about artificial intelligence.

John T. Kelley, Vice President and Show Director of CTA, in an interview with a reporter, stated that artificial intelligence, accessibility, and sustainability would be the three main themes running through the CES exhibition halls. “AI, as an ingredient technology, is embedded in almost all products in areas like automobiles, homes, and healthcare.”

NVIDIA new rtx family

AI Accelerating Monetization

Wedbush analyst Daniel Ives said, “The fourth industrial revolution led by artificial intelligence has arrived at the doorstep of global enterprises and consumers.”

A recent survey conducted by Ives’s team revealed that more and more businesses are using generative AI for data analysis, marketing content creation, document editing/summarization to improve operations, enhance efficiency, and create more cost-effective capital structures. In fact, over half of the surveyed companies have over 20 instances of generative AI usage, with over 80% using at least 10 instances.

“The monetization of artificial intelligence is starting to have a positive impact on the tech industry. NVIDIA, Microsoft, Google, Datadog, and Palantir all indicate that the application of AI in the enterprise and consumer domains is experiencing explosive growth. I believe that with software, chip, and hardware technology companies heavily investing in AI, CES will serve as a major channel to execute and drive this trend in 2024,” added Ives.

CTA predicts that retail revenue in the U.S. consumer technology industry will grow by 2.8% in 2024, reaching $512 billion, indicating a continued increase in consumer spending on tech products and services.

Richard Kowalski, Senior Director of Business Intelligence at CTA, mentioned that despite inflation challenges in most sectors of the U.S. economy, consumers can enjoy lower prices when purchasing consumer tech products like TVs, smartphones, and gaming hardware. This reflects the inherent deflationary nature of technology as continuous innovation drives industries to seek newer and more efficient competitive means.

Irreplaceable CES

CES 2024

According to the Consumer Technology Association (CTA), the exhibition space for this event is approximately 2.4 million square feet (220,000 square meters), with over 4,000 registered exhibitors and an expected attendance of 130,000 participants, over a third of whom come from outside the U.S., exceeding last year’s levels in both quantity and scale.

CEOs Nicolas Hieronimus of L’Oréal and Doug McMillon of Walmart will deliver keynote speeches. In addition, executives from companies such as Intel, Microsoft, and Qualcomm will participate in keynote discussions.

According to CTA, about 60% of Fortune 500 companies will attend this year’s Consumer Electronics Show, promoting diverse product releases and discussions around all technology and other sectors.

In addition to the dazzling displays by tech giants, CES has also become a crucial ground for establishing industry trends and seeking business opportunities for startups. CTA’s data shows that in the Eureka Park exhibition area, showcasing various innovative products, over 1,200 startups are participating this year.

Kelley told reporters that what makes CES unique is that it “brings everyone together” to drive the entire industry forward. “We can meet and chat at a Starbucks around the corner, whether it’s a pre-planned meeting or an impromptu encounter. This can only happen at CES,” Kelley added.

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