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A report from the Global Forecast Series 2024, involving Deloitte, Goldman Sachs, Atlantic Council and other research institutes, provided a series of forecasts for this year, taking into account the geopolitical, economic, technological and environmental situation.
One of the most relevant questions is what would happen to inflation, interest rates and economic growth by 2024. Regarding inflation, it is argued that after the continuous decline of the indicator in all economies in 2023 Many analysts expect it to continue to cool down to target levels.
Although some suggest that the final stretch of the road to these goals may be the most difficult, Few see the possibility of a repeat surge like we saw in 2022.
Interest rate cuts are also coming. With high prices expected to be largely under control in 2024, All major banks and institutions expect interest rates to be cut by the Federal Reserve, the European Central Bank and the Bank of England by mid-year.
LR diagram
Analysts’ forecasts for how much interest rates will be cut range from three to six cuts, and Federal Reserve board members expect two to three cuts.
Global growth prospects are low. Global GDP growth forecasts are between 2.5% and 3%, slightly below the 10-year average (2013-2022) of 3.1%. The USA is also likely to do this will experience a slowdown in growth: IMF forecasts of 2.4% in 2023 have been lowered to 1.5% in 2024, while Europe is expected to continue to see slow growth of 0.9% in 2024.
Artificial intelligence is appearing more and more
One of the predictions that could not be missed was certainly the one about the “excessive” development of artificial intelligence. This tool, which is being developed daily, is expected to be embroiled in an electoral scandal.
And 2024 will be a year full of elections in the world. For the first time, Almost 100 countries will hold elections of all kinds: half of them will be presidential, six Latin American countries will elect a president, and there will also be presidential elections in the United States.
Experts also assure that the impact will be great. “The human impact has never been more important, and technologies that can work with people to improve their skills and their lives will gain momentum,” said Diego Tártara, Chief Technology Officer at Globant.
E-commerce sees good future prospects
Napse, the retail developer, coincided with the rise of artificial intelligence in more markets.
“From physical stores to e-commerce, which will continue to expand in 2024, “The instruments that promote the implementation of the unified commerce approach (integration of all sales channels) will be the key to success in retail this year.”concluded Martín Malievac, Director of Research and Development at Napse.
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