We all wish we had a crystal ball to tell us what to expect in the technology world in the new year. In the open forum organized by Matthew Reinbold , a large number of developers discussed cutting-edge ideas and observations about the API industry, so we can find some clues about the development of the API economy in 2024.
1. Security will depend on whether the API is secure
According to Gary Archer , most organizations building digital solutions use API-based architectures, but because APIs provide secure data to customers, this also puts APIs at a vulnerable link in the network, with the potential to cause significant damage by compromising APIs. network security risks.
Therefore, Archer recommends ensuring secure delivery of API data by following best practices, such as:
· Using the OAuth 2.0 framework
· Requiring proof tokens in B2B clients
· Using the strongest cookies in browser API clients
· In Adopt Proof in Mobile API Client
· Adopt Zero Trust in the backend
· Add cryptographic support for user authentication
2. An open and shared API ecosystem will unlock value
API developers now not only focus on the generation or use of a single API, but tend to combine multiple APIs, which has become an obvious trend. Currently, many projects have launched API services. These APIs are placed in the market as third-party resources and have become valuable assets for developers to discover and use, jointly building a huge API ecosystem. This ecosystem not only enables innovative projects to flourish, but also serves as an important source of business and marketing data.
It is worth noting that this open and shared API ecosystem is not only an innovation at the technical level, but also provides enterprises with valuable business development and marketing opportunities. In the API market , enterprises can quickly discover and utilize APIs that can help grow their business, and even find potential partners related to their business. As the API ecosystem continues to expand, the new year will surely unleash more innovation and business value. This development trend provides enterprises with a wider space for cooperation and innovation, making APIs more than just technical tools, but also a key driving force for business development.
3. Artificial intelligence will play an important role in the future of APIs
In David Biesack's article "What is The Meaning of This" , he provides an in-depth discussion of the interaction between AI and APIs, dividing it into three key categories: APIs generated by AI assistants, and some code used to use AI Assistant-generated APIs and AI systems that interact directly with the APIs.
Biesack emphasized that the nature of large language models ( LLMs ) relies on high-quality data to ensure correct training. In this context, he believes that the semantics are best provided in the OpenAPI format. In addition, to ensure successful interaction between AI and APIs, better prompts are also crucial. Therefore, he predicts that API engineer tips will become a highly watched direction this year.
Specifically, the OpenAPI v4 version, known as Moonwalk, is scheduled to be released in 2024 and will add semantics. This move is critical to establishing feedback loops for training AI and validating the quality of its output. This not only helps improve the interaction effect between API and AI, but also lays the foundation for future technological development. Therefore, this trend of introducing semantics and better hints in API engineering will integrally drive progress in the field of AI and APIs.
David Roldan Martinez, director of API strategy, said artificial intelligence will also be an important part of autonomous APIs. First, autonomous APIs require access to large amounts of data, and access to AI will make autonomous APIs more secure because everything from data verification to rate limiting and access control can be handled by AI.
4. Only well-designed APIs have a future
Keith Casey pointed out the difficulties that poorly described APIs can face, including difficulty in using, lagging documentation , and inapplicable SDKs, resulting in fragile integrations that ultimately affect the work of marketing and sales teams. He believes that only clear and well-documented APIs can be widely used faster. With the help of generative AI tools such as ChatGPT, AI can quickly discover, understand and utilize APIs to achieve tasks by simply entering instructions.
When designing a good API, you must have a clear idea and use a formal API specification. By verifying the server and following standard protocols, the full functionality of the API can be released to the maximum extent, thereby enhancing its value and enabling it to bring more benefits to users and investors.
To sum up, a clear, standardized, and well-documented API is crucial to promote the development and promotion of applications. This kind of good API design can not only improve development efficiency and user experience, but also bring more business value and market competitiveness to enterprises.
5. The precise value point of API will be the key to future success
APIs have evolved into a product in their own right and require the same level of nuance as any other product or service. This includes developing a deep understanding of your audience, a firm grasp of your unique value proposition (UVP), and keeping a close eye on the current API market.
In 2024, one of the major API trends is API adoption. As the economy goes through a contraction, users are becoming more anxious about every expense. Therefore, once it is clear what needs the API meets, it is necessary to demonstrate the value of the API to the greatest extent. This involves not only technical performance and functionality, but also clarity when communicating with your audience to ensure they understand how the API solves a problem, provides value, and remains a smart investment choice despite economic pressures.
Therefore, the way of looking at APIs should be more comprehensive, not only focusing on the technical aspects, but also needing a deep understanding of market needs and user psychology. Through precise positioning and clear communication of value, APIs can stand out in a highly competitive market and provide users with practical solutions.
6. API management will become increasingly important
As Emma Kriskinans said, in order to achieve greater success in business, it is crucial to focus on things that may be considered boring by most people but are actually indispensable. One example is API management , an area that has been on the rise for years and provides businesses with demonstrable returns.
According to Jing Yan of API7.ai, the top API management trends in 2024 include:
- APIs are applicable to a wide range of applications, not just specific areas.
- API management solutions are recognized by more enterprises.
- Emphasis on the synergy of API management and generative AI.
- A modern, small footprint API gateway is required.
- Emphasize the importance of API documentation to improve understandability.
- Pay more attention to API monetization and achieve economic benefits.
- Strengthen API monitoring and observability to ensure system stability.
- Improve API security to effectively protect the network environment.
7. Default the audience to beginners to build a better API
It is essential for educators to conduct their work as if they were communicating with 5-year-old children. This means that complex concepts need to be translated into simple terms to ensure that they are clearly understood by both the teacher and the students attending the class.
When designing and documenting APIs, always considering beginners as the primary audience will help create easier-to-understand API documentation. This approach not only makes APIs more accessible to professionals, but also helps build and expand the API's audience.
Therefore, through simple and easy-to-understand expressions, it not only improves beginners' understanding of the API, but also provides professionals with a smoother usage experience. This beginner-focused approach helps promote broad adoption of the API and ensures that the API documentation is more universal and accessible.
8. User and developer experience will become increasingly important
"A customer-first approach is the antidote to most problems faced by API developers and users."
The future of APIs will focus more on customer experience, emphasizing solving problems faced by developers and users. Improving documentation completeness, navigability, effectiveness, and design will be key to achieving this goal. At the same time, focusing on developer experience, measuring and optimizing developer collaboration will be an indispensable trend in the API field in 2024.
9. APIs will become increasingly efficient
The IT industry is gradually transitioning from large-scale system rewriting and modernization to a stage that is more focused on business value. APIs are seen as central to achieving this change, but more streamlined and efficient API procedures are needed. Frequent reuse of APIs is considered the key to achieving efficiency, allowing enterprises and customers to create value more quickly and promote sustainable business development.
10. APIs as a product will continue to grow
In the last three months of 2023, API Changelog analyzed 235 articles on the API industry, reporting over $800 million in API-related funding. This includes increased spending by large Fortune 500 companies such as Amazon, Apple and General Motors. The development trends of these products and companies lead to belief that API productization will become a growing theme in 2024. This will be more often the case as people use APIs as standalone products, or as distribution channels for new and existing products (or even physical products).
This trend shows that the development of APIs as products will usher in continued growth in 2024. The capital investment of large enterprises has accelerated this trend, making API productization a key direction of business development. API is not only a technical tool, but also a core element in business strategy. By using it as an independent product or distribution channel, it enables more flexible and innovative development of the market.
Final thoughts on the future of APIs
Although in reality we do not have a crystal ball that can predict the future, we can gain some insights into future development by communicating with KOLs in the API industry. While the new year may bring many unexpected circumstances, we feel confident that many of these predictions will come true.
Original link: 10 API Economy Predictions For 2024
Original author: J. Simpson
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