2024 Spun Faster
We each travel 940 million kilometres per year through space. Yet, on Earth, some go further faster than others.
Here is an insight on what’s shifting in the world and how it can shape the way you think, act, and lead for global success.
Our Annual Travel
Each year, Earth travels approximately 940 million kilometres through space as it circles the sun. We each journey at a speed of about 107,227 kilometres per hour. While this distance and speed remain constant, 2024 saw an acceleration in events and shifts on our planet. A number of records were broken, acting as indicators of significant changes - a mix of accelerated problems and progress.
Our Focus. Our Favour.
Our focus, decisions, and trajectory change if we look for constants rather than shifts. Those who leverage signals to explore and experiment, building new businesses, products, services, and solutions, often yield different outcomes than those seeking to simply manage and mitigate shifts. In short, what we focus on determines what we can leverage and our ability to secure a competitive advantage.
Shifts that Spun Faster in 2024
Predicting 2025 is challenging yet these signals point to global shifts that can proactively shape our business strategies and focus.
A selection of 20 events and shifts that spun faster in 2024 across a number of domains includes:
Business and Economy:
1. Record Stock Market Performances: The Nasdaq Composite surpassed 20,000, and the S&P 500 hit record highs, fuelled by AI sector growth and optimism around central bank policies.
2. Global Coal Demand Hits Record Level: In 2024, global coal demand reached a record level, with end of year production figures expected to surpass 9 billion tons for the first time, driven by major producers like China, India, and Indonesia.
3. India Surpassed China in Global Stock Indices: For the first time, India overtook China in the MSCI All-Country World Investable Market Index, with India’s share rising to 2.33%, compared to China’s 2.06%. This shift reflects increasing share sales and liquidity in Indian markets and signals India’s growing prominence and investor confidence on the global stage.
4. One of the Largest Private Investment Rounds in History: In 2024, Databricks raised US$10 billion in private funding, making it one of the largest private investment rounds ever. This reflects the extraordinary investor confidence in AI-driven technologies. Led by Thrive Capital, the funding round saw overwhelming demand, with investors offering $19 billion against an initial target of $3-$4 billion. Databricks’ valuation surged to US$52 billion, driven by its 60% annual growth rate. This highlights a broader trend where venture capital is concentrated on fewer, larger bets in AI, even amid a downturn in overall venture funding.
5. Record US$1.4 Trillion Pledged for Global Energy Transition: As of September 2024, new commitments to enhance renewable energy and improve access to electricity and clean cooking technologies have elevated the total finance and investment pledged through the United Nations’ Energy Compacts to US$1.4 trillion. These voluntary commitments, set for deployment by 2030, aim to reduce the number of people living without electricity - currently at 685 million - and over 2 billion still relying on polluting cooking fuels.
6. Global Public Debt Hits Historic Levels: In 2024, global public debt exceeded $100 trillion, representing approximately 93% of global GDP. This marks an all-time high, driven by increased government spending on pandemic recovery measures, climate adaptation, and economic stabilisation. The International Monetary Fund (IMF) warns that without significant fiscal adjustments, global debt could approach 100% of GDP by the decade’s end, highlighting the urgent need for coordinated economic reforms.
Technology and Innovation:
7. Global AI Adoption in Business Reaches Record 72% in 2024: In 2024, global adoption of artificial intelligence (AI) hit an unprecedented 72%, with the use of generative AI doubling compared to 2023. This milestone highlights AI’s rapid integration across industries, transforming productivity, innovation, and customer engagement.
8. Largest Global Expansion of Green Hydrogen Projects: In 2024, the global green hydrogen market exceeded US$6.49 billion, with projections indicating a compound annual growth rate (CAGR) of over 31% from 2024 to 2032. This significant growth confirms the increasing investments and commitments worldwide toward green hydrogen infrastructure and technology.
9. Record Solar Energy Installations: In 2024, global solar photovoltaic (PV) capacity additions reached an unprecedented 593 gigawatts (GW), marking a 29% increase over the previous year. This significant growth was driven by declining costs and supportive government policies worldwide. This expansion confirms the growing economic attractiveness of solar PV as a leading renewable energy source.
10. Record-Breaking Quantum Computing Milestone: Google unveiled its quantum computing chip, “Willow,” which achieved a record-breaking performance by completing calculations in under five minutes that would take the fastest supercomputers approximately 10 septillion years. This unprecedented speed sets a new benchmark in quantum computing, solving a 30-year challenge and dramatically advancing the field’s capabilities for problem-solving in areas such as materials science, cryptography, and artificial intelligence.
Leadership and Global Trends:
11. Mexico’s First Female President Takes Office: In December 2024, Claudia Sheinbaum was inaugurated as Mexico’s first female president and its first Jewish leader, marking a historic moment in the nation’s 200+ years of independence. Her six-year term begins amid challenges like organised violence, economic pressures, and tensions with the U.S. Sheinbaum, a former climate scientist and Nobel Peace Prize recipient, emphasised transformation and gender equality in her inaugural speech, pledging to advance environmental sustainability and address Mexico’s fiscal challenges.
12. Rise in Remote-First Workplaces: By August 2024, 22.8% of U.S. employees worked remotely at least partially, totalling 35.13 million people, reflecting the continued prevalence of remote work. Among these, 8.9% were fully remote, while 18.1% worked in a hybrid mode. The technology sector led remote work adoption, with 67.8% of employees working remotely, followed by agencies and consulting (50.6%) and finance and insurance (48.7%). These trends underscore the ongoing transformation of workforce dynamics, particularly in industries leveraging technology to maintain flexibility and productivity.
Sustainability and Climate Action:
13. 2024 on Track to Be the Hottest Year in Recorded History: Global average temperatures in 2024 surpassed all previous records, with January to September temperatures 1.54°C above pre-industrial levels. This marks 16 consecutive months of record-breaking heat, driven by increasing greenhouse gas emissions and a warming El Niño event. The year also saw severe climate impacts, including record rainfall, intensifying tropical cyclones, and deadly heatwaves.
14. Record Electric Vehicle Deployment in 2024: The global electric vehicle (EV) fleet expanded significantly in 2024, reaching a record high of over 15 million EVs sold, marking a 35% increase from 2023. This growth highlights the accelerated adoption of EVs driven by affordability, expanded charging infrastructure, and supportive government policies. The surge reflects the transformation of transportation systems worldwide towards more sustainable solutions, reducing dependency on fossil fuels and contributing to greenhouse gas emission reductions.
Geopolitics and Global Cooperation:
15. Record Global Displacement in 2024: In 2024, the number of forcibly displaced people worldwide reached a historic high of over 122.6 million, reflecting the combined impacts of conflicts, persecution, and climate-related disasters. This staggering figure underscores the escalating challenges of addressing displacement, with millions requiring urgent protection and support.
16. Europe Joins Asia-Pacific Economic Integration: In December 2024, the United Kingdom became the first European nation to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), strengthening economic ties between Europe and the Asia-Pacific region. The agreement now spans 12 member countries, including Canada, Japan, Australia, Vietnam, and New Zealand, representing 15% of global GDP. While protectionist measures increase worldwide, this milestone confirms pockets of growing economic collaboration across continents.
17. India Hosts Third Voice of the Global South Summit: India convened the third edition of the Voice of the Global South Summit, held virtually under the theme “An Empowered Global South for a Sustainable Future.” The summit saw participation from 123 countries, including 21 heads of state or government and 34 foreign ministers. Discussions focused on shared challenges such as climate change, food and energy security, and the need for reforms in global governance to better reflect the priorities of low- and middle-income economies.
18. Largest Tech-for-Good Initiative Expands Impact: The 2024 Call for Code Global Challenge, the world’s largest tech-for-good initiative, reached new heights by empowering developers worldwide to create AI-powered solutions addressing equitable access to essential needs. Winning projects included applications to tackle educational inequality, repurpose clothing waste, and improve access to learning resources for underserved families. Leveraging IBM watsonx and Granite AI models, these innovations demonstrated how advanced technologies can drive transformative social impact and align with global sustainability and equity goals.
Scientific Achievements:
19. Injectable Lenacapavir Revolutionises HIV Prevention: Lenacapavir emerged as a game-changing breakthrough in the fight against HIV. Trials demonstrated near-perfect efficacy, with a 100% success rate in preventing HIV among adolescent girls and women in South Africa and Uganda, and 99.9% efficacy among gender-diverse populations globally. The injectable drug, requiring only biannual administration, represents a monumental leap in pre-exposure prophylaxis (PrEP). This innovation stems from a deeper understanding of HIV’s capsid protein, enabling lenacapavir to block critical stages of the virus’s lifecycle. While challenges like access, cost, and delivery remain, lenacapavir’s potential to dramatically reduce global HIV infections positions it as one of the most effective tools against the epidemic to date.
20. Deepest Ocean Exploration: Chinese scientists completed manned expeditions in eight major hadal trenches worldwide, including the Kermadec Trench, located in the South Pacific Ocean northeast of New Zealand. Reaching depths exceeding 10,000 metres, these missions, conducted using the Fendouzhe submersible, achieved multiple world records and provided valuable insights into extreme deep-sea environments. Key findings included unique geology, tectonic activity, and life forms adapted to immense pressures, advancing our understanding of these largely unexplored regions of the ocean.
Problems + Progress to Inform 2025
These records from 2024 highlight the accelerating pace of both problems and progress shaping our world. Breakthroughs in climate action, technological innovation, and global cooperation demonstrate humanity’s ability to address challenges with transformative solutions. At the same time, worsening climate impacts, geopolitical tensions, and rising disparities reveal the intensifying risks we face. Together, they confirm a rapidly transforming world where opportunities and challenges evolve at unprecedented speed.
As we move into 2025 and embark on another 940 million-kilometre journey through space, these signals point to an intensification of change. From faster adoption of AI to pockets of heightened collaboration on global issues and increasingly complex geopolitical dynamics, the speed of transformation will test resilience and adaptability. For business leaders and policymakers, recognising and responding to these shifts will be critical to turning challenges into opportunities and staying ahead.
This article presents 20 areas of acceleration in 2024, reflecting key trends and interests for my clients.
What sped up, achieving breakthroughs both positive or negative, with the potential to positively or negatively your business plans or ambitious goals in 2025?
