2023 was a time of great advancements in the AI and data science space with some advancements being measured within weeks of each other. As the countdown to 2024 begins the possibilities of artificial intelligence continue to grow before us. The landscape of AI is poised for another year of groundbreaking advancements, and in this post, we delve into the predictions that cast a glimpse into the transformative journey awaiting us in 2024.
Trends to expect in 2024
Some of the trends that we might see more of in the year 2024 include:
1. The fusion of generative AI and business intelligence.
2. A shift from novelty to commercial pricing models.
3.Environmental, social and governance (ESG) initiatives getting a boost from analytics and AI.
4. Single-pane-of-glass analytics.
5. Continued growth of and integration of hybrid and remote working environments
By capitalising on these trends companies can truly harness the potential in AI and advance further than previously estimated.
Unlocking AI Potential in 2024
The answer to unlocking AI’s true potential in 2023 is simple, it is going big, putting people first, and setting priorities. AI will become more than just a tool; it will be a transformative force that requires strategic thinking, incentives for innovation, and methodical planning. AI will also begin to redefine leadership roles as AI skills become more necessary for outstanding performance.
Not only that, but AI will be an integral part of how we interact with data, stakeholders, and each other. Responsible AI will be the key to building trust, and it starts from day one. Embedding trust into the foundation, leveraging established governance, and involving the entire C-suite in responsible AI practices are the recipes for success. On top of this GenAI will be a ‘missing link’ for data. It is not just a tool; but a means for widespread transformation as well as being a creator that helps individuals innovate and customise like never before.
AI is becoming both extraordinary and ordinary as it is integrated into our everyday lives. Even with this the hype around AI is cooling down as we move from experimentation to implementation, the fundamentals of value delivery with AI remain unchanged.
How AI Will Improve
1. Error Prevention in AI Output: As the technology improves and evolves errors in generative AI output will be greatly reduced.
2. Centaur Teams for Improved Performance: Human-AI partnerships, known as “centaur teams,” outperform humans or AI individually and will begin to grow in number.
3. Embedding AI in Mainstream Applications: Mainstream applications will integrate AI through copilots for flawless functionality.
4. Predictive AI and Automation Integration: Predictive AI, combined with generative AI, will drive automation for enhanced outcomes.
The anticipated advancements in Generative AI, AI adoption, and AI integration paint a vivid picture of a world where intelligent technologies play an ever-expanding role. As we step into the unknown region that is 2024, one thing is certain: the journey of AI evolution continues to captivate our imaginations, presenting a canvas of possibilities limited only by the boundless creativity of human and machine collaboration. As we anticipate groundbreaking advancements in AI and tech for 2024, now is the time for businesses and innovators alike to stay informed, adapt swiftly, and harness the transformative power of these emerging technologies reach out to us today at specialists@edenai.co.za or get in touch via https://edenai.co.za/get-in-touch/.
This article was enriched from these sources:
Scott Richards (2023) Opentext Analytics and AI predictions for 2024: Exploring the future
https://blogs.opentext.com/exploring-the-future-analytics-and-ai-predictions-for-2024/
PWC 2024 AI Business Predictions
https://www.pwc.com/us/en/tech-effect/ai-analytics/ai-predictions.html
Madeleine Clarke, Alison Donnellan (2023) CSIRO New year, new models: AI predictions for 2024
https://www.csiro.au/en/news/All/Articles/2023/December/AI-predictions-2024
David Egts (2023) MuleSoft 5 AI Predictions for 2024: Navigate the Hype Cycle and Embrace Your Inner Centaur
https://blogs.mulesoft.com/digital-transformation/ai-predictions/