Looking for the next great way to invest your money in 2024? After a turbulent few years for the economy and from a global geopolitical stance, it can be difficult to know which move to make next, but the good news is that as the financial world continues to evolve, the markets are set to be ripe with opportunity next year.
Several key investment trends are poised and ready to change the game for investors in new ways, and as artificial intelligence continues to transform every sector and our appetite for a more sustainable way of investing grows, we asked the experts at trading platform Immediate GPT to share their predictions on the biggest things to keep your eye on over the next twelve months and beyond.
Technology and AI-driven investment strategies
Advancements in artificial intelligence (AI) and machine learning have transformed the investment space in more ways than we ever could have imagined, making it more accessible for anyone who is keen to dip their toe in. AI-driven algorithms have proven their ability to analyse vast swathes of data rapidly – far more so that humans can – and investors will continue to leverage these systems to enhance their success. Such systems have the power to expertly spot trends and make predictions about upcoming market movements, allowing users to make decisions more quickly and efficiently, and they will continue to be used in these capacities, as well as to assess risk more accurately to help traders optimise their strategies and make better moves.
Sustainable and ESG investing
Environmental, Social, and Governance (ESG) investing has been growing in popularity of late, with investors placing a greater emphasis now than ever before on ethical practices, social responsibility and environmental sustainability and taking steps to ensure that their strategies incorporate all three. Investing in a way that aligns with personal values is a trend that will only continue to gain traction in 2024 as traders gain an increasing understanding of the business advantages of doing so. After all, the name of the game is still making money, and the savviest investors will be seeking ways to take advantage of having the best of both worlds. It’ll be an important year for companies that have yet to overhaul their ESG related policies, and a case of sink or swim, with those that fail to adapt quickly unlikely to survive in the long-run.
Greater diversification
All seasoned investors know the importance of diversifying their portfolios to mitigate risk, and over the next year, we’ll see them strive to do this in new and exciting ways, looking beyond classic options and asset classes like stocks and shares. Cryptocurrency, real estate, venture capital and commodities are all looking increasingly attractive to investors as a valuable hedge against market volatility, and we can expect to see them putting their money into a range of different opportunities as part of their long-term wealth building strategy.
Healthcare and biotech
The global pandemic shone a spotlight on health and wellbeing and sparked greater interest in healthcare innovations, with more money being poured into initiatives globally that focused on pharmaceutical developments, gene editing and a host of other issues that are relevant to our time. As these projects begin to come to fruition, investor interest is only set to grow, and there could be some exciting prospects on the cards in 2024. With an ageing global population and more money being spent on healthcare than ever before, healthcare and biotech should be well on your radar for next year if they aren’t already – although regulatory and ethical considerations will be essential to bear in mind.
Crypto and blockchain technology
As the development of the Metaverse continues, interest is growing around the blockchain technology that underpins cryptocurrencies like Bitcoin and Ethereum and the ways in which it is now being utilised and applied to bring the so-called ‘internet 2.0’ to fruition. Blockchain ecosystems are expanding and will continue to take centre stage in 2024 and capture investor interest as our understanding around its full extent of capabilities grows – but with the crypto market finally beginning to stabilise, will also see a renewed interest in crypto itself. Not just Bitcoin and the biggest-hitting alt coins, but also stablecoins, NFTs and decentralised finance (DeFi), with all now offering some exciting possibilities.
Disclaimer: Investing money carries risk, do so at your own risk and we advise people to never invest more money than they can afford to lose and to seek professional advice before doing so.
