
The year 2024 was a testament to the continuing pace of technological advancement and groundbreaking innovations in artificial intelligence and internet technology.
Companies like Neuralink and Nvidia have pushed technological boundaries, while Amazon and Huawei have reshaped traditional industries. Despite challenges such as cybersecurity breaches and regulatory hurdles, the global technology landscape has demonstrated resilience and adaptability.
TakloiThe book summary delves into the key developments shaping the year 2024, highlighting the technologies and trends that are redefining our world.
January 2024
- The $3 Trillion Valuation Club: Microsoft achieved a valuation of $3 trillion for the first time becoming the most valuable company in the world at that time. Although it later lost this position to Nvidia, this achievement confirmed Microsoft’s dominance in the technology industry. At the end of 2024, Apple was the most valuable company with a value of $3.9 trillion, followed by Nvidia with a value of $3.4 trillion, and Microsoft came in third place with a value of $3.2 trillion.
- Brain chip hack: Neuralink, the neurotechnology company founded by Elon Musk, has announced a groundbreaking achievement – the successful implantation of its first brain chip into a human body.
February 2024
- India’s first AI unicorn: In February, Krutrim, an AI startup founded by Bhavish Aggarwal, the mind behind Ola, reached a $1 billion valuation after raising $50 million in a funding round led by Matrix Partners India, making it India’s first AI startup. Achieve unicorn status in a year.
- The largest round of Chinese artificial intelligence: Chinese tech giant Alibaba has led a landmark $1 billion funding round in Moonshot AI, a Chinese AI startup. This was the largest single funding round for a Chinese AI startup.
March 2024
- Major internet outage in West Africa: Major internet outage It affected millions across West and Central Africa. Undersea cable failure caused widespread internet outages. Although telecom operators redirected traffic to alternative cables to restore services, the outage highlighted the region’s infrastructure weaknesses and the urgent need to invest in resilient and reliable internet connectivity to support economic and social development.
- Binance has suspended its Nigerian Naira services: The suspension of the cryptocurrency exchange affected the ability of users to deposit and withdraw Naira on the platform affecting over 10 million P2P payment users in the country. This came after the Central Bank of Nigeria (CBN) blocked access to the Binance website and detained employees.
April 2024
- Google shut down its Podcasts app: Google has announced plans to completely shut down the service globally in 2024 and has asked users of its podcast app in the US to migrate subscriptions to YouTube Music by April 2 to continue streaming their favorite shows.
- X (formerly Twitter) is at risk of being shut down in Brazil: The main case revolved around Elon Musk’s public rejection of a court order to ban “certain popular accounts in Brazil.” Musk claimed in his post on X that a Brazilian court threatened to impose fines, arrest employees, and even shut down X’s Brazilian operations entirely.
- Apple has removed WhatsApp and Threads from its App Store in China: The move comes on the back of a cleanup program that China began in 2023 to remove all defunct or unregistered apps from local iOS and Android stores, including native apps.
May 2024
- Amazon’s foray into Africa: In a strategic move to capitalize on the booming e-commerce market, Amazon.co.za has launched to provide customers in South Africa with a selection of local and international brands across 20 different product categories. The e-commerce giant is now competing with local e-commerce players like Takealot, Bob Shop, Makro, Bidorbuy, Zando, as well as Chinese-owned Temu, which launched earlier in January, and then in Nigeria in December.
- African fintech Flutterwave has suffered a major cybersecurity breach: Just one month after obtaining a court order to recover $24 million lost due to unauthorized point-of-sale (POS) transactions, the fintech has suffered a new security breach that has raised serious questions about Flutterwave’s internal security infrastructure and protocols.
Other top news: Google’s first undersea fiber optic cable connects Africa and Australia | Major Bing outage disrupts services on ChatGPT Search, Copilot, DuckDuckGo and others | TikTok is suing the US over a potential ban
June 2024
- HarmonyOS has overtaken iOS in China: With a 17% market share in China, surpassing Apple’s iOS (16% market share), its success can be attributed to strong domestic demand for Huawei’s recent launch of 5G smartphones – the Mate 60 series.
- SpaceX announced plans to launch Starlink cellular service: Pending FCC approval, the Direct-to-Cell service aims to provide Internet connectivity to mobile phone users in areas with poor or no service in the United States by December 2024.
July 2024
- Uber has made a move on Moove: Led a $100 million Series B funding round for African mobility startup Moove, which specializes in vehicle financing solutions for mobility entrepreneurs, Uber’s investment has highlighted the growing interest in African tech startups and the potential for fintech innovations To drive economic growth on the continent.
- Indian company closed: Once touted as a competitor to X (formerly Twitter), the platform has been unable to secure the partnerships and funding needed to sustain its operations. In other news, Rapido races to unicorn status, while Byju’s faces its biggest crisis ever.
Other top news: CashApp announced Brexit, while Revolut is licensed as a UK bank | Startups in Africa, Ukraine and others faced having their accounts closed by a US bank Chinese electric car battery companies are courting Morocco for incentives for American electric cars
August 2024
- Indonesia announced a crackdown on websites promoting adult content: While accessing online pornography and gambling sites is illegal in the country, it marked the end of the road for DuckDuckGo, a US-based privacy-focused search engine, social media platform Reddit and video hosting platform Vimeo.
- China launches low-orbit satellites to challenge Starlink’s dominance: The launch, which saw the deployment of 18 low-Earth orbit satellites by Shanghai Spacecom Satellite Technology (SSST), marks the first phase of an ambitious endeavor aimed at creating a vast network of low-Earth orbit (LEO) satellites, providing high-speed internet. access.
Other top news: Google pulled the plug on AdSense in Russia | X closed its operations in Brazil | Wasoko and MaxAB have joined forces in Africa’s largest technology merger
September 2024
- Nvidia becomes the most valuable company in the world – for the second time: After briefly overtaking Microsoft and Apple to become the world’s most valuable company in June, Nvidia took the top spot again in September, thanks to the growth of its artificial intelligence sector.
- Nigerian fintech apps charge a transfer fee of ₦50: It has been announced that a new fee of JPY50 (US$0.03) on transfers of JPY10,000 (US$6.27) or more will come into effect in December 2024 across all digital payment platforms, as part of the government’s efforts to generate revenue from the rapid expansion of payments. digital.
- Bluesky has rolled out video support: In addition to previously introducing direct messaging (DMs), a personalized Discover feed, and new tools to hide replies, the social media platform’s efforts to rival X Central sensation It caught the world’s attention. It later increased its user base from 10 million to 20 million in December 2024.
October 2024
- OpenAI has achieved a value of $157 billion: This news confirmed recent speculation that OpenAI was aiming to reach a valuation of nearly $150 billion in a new funding round, cementing its position as a major player in the global technology landscape.
- Moneypoint has joined the African Unicorn Club: Having raised $110 million in funding, the fintech achieved a $1 billion valuation and became Africa’s ninth unicorn, following the likes of Interswitch, Flutterwave, Wave and Chipper Cash that paved the way to address unique regional challenges in digital payments and financial services. Universal, mobile money services.
More top news: Nigerians faced transaction issues due to banking IT system upgrades | X is back online in Brazil after a month-long ban | Disagreement is banned in Russia and Turkey
November 2024
- OpenAI and Meta AI to speak African languages: French telecom giant Orange SA is collaborating with tech giants Meta and OpenAI to develop language models for African languages.
- Starlink direct cell service launched: With T-Mobile as its partner in the US, SpaceX can bridge connectivity gaps and enhance communications networks across the country, even in remote and underserved areas.
More top news: Telegram faces restrictions in Kenya over exam malpractices | Amazon launches Haul to compete with Shein and Temu | TikTok offices closed in Canada due to security concerns | The founder of TikTok has become the richest man in China
December 2024
- Apple agreed to invest $1 billion in Indonesia to lift the iPhone 16 ban: The end of the saga between Apple and the Indonesian government, with the technology giant confirming that it will invest $1 billion in Indonesia, weeks after banning the iPhone 16.
- Countdown to TikTok ban in the US: Concerns over data privacy and national security could lead to a potential nationwide ban of the popular social media platform TikTok on January 19, 2025. Meanwhile, a hearing on January 10 could either determine the app’s fate in the US or serve as its saving grace.
More top news: Europe launches a competing project for Starlink | Elon Musk has become the first person ever to amass a net worth exceeding $400 billion | Iran lifted the ban it imposed on foreign internet platforms