Navigating Challenges and Embracing Opportunities in 2024

By _Sofics Blog

December 21, 2023

The challenging year 2023 is finally wrapping up… Predictions were that it would be a transition year towards a better 2024. So, let’s welcome 2024!

First, let’s look back. 2022 was notable, albeit for the wrong reasons: warehouses were being filled to brace against new shortages. In 2023, these overstocks created a steep drop in production. Consider the foundry capacity utilization numbers: they are near 80% today, compared to being at all-time highs, above 100%, last year.

The key factors shaping 2024 will likely be geopolitics and the subsequent influx of tax dollars, as well as, the evolving role of Artificial Intelligence in our workplaces.

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