With a focus on GenAI, industry experts offer predictions on how AI will evolve and impact IT and business in 2024. Part 5, the final installment in this series, covers the advantages AI will deliver.
Start with: 2024 AI Predictions - Part 1
Start with: 2024 AI Predictions - Part 2
Start with: 2024 AI Predictions - Part 3
Start with: 2024 AI Predictions - Part 4
Go to: predictions about AIOps
Generative AI will become increasingly important for resolving complicated data integration challenges, essentially providing a natural-language intermediary between data endpoints. Instead of requiring complex, fragile data mappings, both endpoints will be able to converse as though the other endpoint were human.
Historically, data management is a bit of a black box with highly technical skills required to create a strategy and manage data efficiently. With the help of LLMs, modern data management will change its framework, allowing users to participate in the entire data stack in a fully governed and compliant manner.
AI-powered real-time data analytics will give enterprises far greater cost savings and competitive intelligence than before by way of automation, and enable software engineers to move faster within the organization. Insurance companies, for example, have terabytes and terabytes of data stored in their databases, things like documentation if you buy a new house and documentation if you rent. With AI, in 2024, we will be able to process these documents in real-time and also get good intelligence from this dataset without having to code custom models. Until now, a software engineer was needed to write code to parse these documents, then write more code to extract out the keywords or the values, and then put it into a database and query to generate actionable insights. The cost savings to enterprises will be huge because thanks to real-time AI, companies won't have to employ a lot of staff to get competitive value out of data.
Co-Founder and CTO, Rockset
AI to drive real-time intelligence and decision making — 2024 will be foundation for the next phase of AI. We'll see a number of new innovations for AI, but we're still years away from the application of bigger AI use cases. The current environment is making it easy for startups to build and prepare for the next hype cycle of AI. That said, 2024 is going to be the year of chasing profitability. Due to this, the most important trend in 2024 will be the use of AI to drive real-time intelligence and decision-making. This will ultimately revolutionize go-to-market strategies, de-risk investments, and increase bottom-line value.
CEO and Co-Founder, XFactor.io
The evolution of generative AI across industries will focus on advancements in domain-specific knowledge and expertise, making specialized talent increasingly competitive. The advent of ChatGPT this past year showcased the potency of large language models (LLMs) in understanding and generating human-like text, which has accelerated investments and innovations in generative AI. Moving into 2024, I anticipate a continuous maturation of generative AI technologies, particularly emphasizing domain-specific knowledge and real-time adaptation to evolving scenarios. This convergence of generative AI with domain expertise will facilitate more nuanced and valuable insights, making AI a quintessential partner in decision-making processes across industries. With this, the demand for AI and machine learning talent will continue to surge in 2024, as businesses increasingly integrate AI not just into their products, but into their operational frameworks. Apart from foundational skills in machine learning, statistics, and programming, I expect to see an increased demand for expertise in domain-specific AI applications and AI governance.
Head of AI and Data, Samsara
In 2024, there will be an increased focus on integrating domain expertise into applications using generative AI and LLMs to develop specific answers that can be applied to real-life situations. Companies must provide the necessary domain expertise and context to make the application more specific and significantly more accurate, which will prove crucial as the technology matures. In addition, there will be a growing demand for explainability and traceability of AI-generated outputs, with AI pointing out how it produced a particular answer, referencing source literature, for example, or sending generated source code through an independent system to provide a detailed explanation of its functionality.
Senior Director, Global Digital Innovation Marketing and Strategy, Hitachi Vantara
In 2024, Applied AI will seamlessly integrate into organizational workflows, enhancing human capabilities and improving operational efficiency. AI technologies will be user-friendly and adaptable, aligning with existing human behaviors and operational processes to facilitate easy adoption and immediate benefit realization. AI will be designed to complement existing workflows, promoting efficiency without causing disruption or necessitating significant changes in work patterns. This approach will ensure smooth transitions, quick adoption, and immediate productivity improvements. By aligning with human behaviors and enhancing current processes, AI will enable organizations to be more responsive and agile, easily adapting to changing conditions and evolving needs. In 2024, the focus of Applied AI will be on practical integration, ensuring that AI technologies work harmoniously within existing organizational structures to drive innovation and success.
CEO and Founder, Data Kinetic
In HR specifically, AI will take an active role in how companies attract, hire, manage, and retain top talent at a global scale. I also think generative AI will be an effective tool for providing continuous knowledge and risk mitigation when it comes to global workforce management. If you are not leveraging generative AI, you will get run over by the competition.
CTO, Velocity Global
In the evolving landscape of 2024, generative AI will transform our daily online experiences in an AI-driven world, which emphasizes the critical need for responsible AI usage. User experience research teams can now evaluate user experiences they couldn't afford or didn't have the time to assess in the past. Understanding your target audiences will be more important than ever as generative AI continues to dominate online experiences and generate content. Providing directional insights to product, marketing and design teams in order to vet digital experiences for potential audiences will become key to business success.
Co-Founder and CEO, WEVO
MODERNIZING LEGACY TECHNOLOGY
After a year of GenAI practice, legacy businesses are starting to understand that GenAI interest is not just driven by hype, and instead could be truly transformative for their sector. Therefore, in 2024, we can expect even more traditional businesses to deploy the technology to help evolve legacy systems and modernize their technology stack. Typically, traditional companies are not amenable to change or agile enough to adopt the latest in new technology. Many companies are tied to legacy software due to a combination of outdated procurement processes, familiarity, or concerns about data loss or disruption, making modernization inaccessible. The key here is that GenAI can assist with migrating off old code bases and technology stacks to modern programming languages and platforms. However, GenAI could bridge this gap by allowing companies previously locked into legacy systems to access a more modern workforce's knowledge and work practices. GenAI also makes some modern tools far more user-friendly, and therefore more likely to be deployed across businesses.
Chief Scientist, SnapLogic, and Professor of Computer Science at the University of San Francisco
VERTICAL USE CASES
Expect to see an increase in vertical use cases for AI and a tight race between incumbents and emerging vendors to solve more nuanced, complex problems for these users. There's already a race for incumbent players to infuse AI into every facet of their platforms. At the same time, we're seeing several new emerging apps coming onto the scene that are purpose-built for vertical use cases within the business — like Sales, Marketing, Legal, and IT. As AI models become more robust and sophisticated, they will be able to handle the nuanced and complex tasks needed for these vertical teams. This will ultimately enable better integration between systems and processes and lead to improved operational efficiencies, as well as cost savings.
Generative AI will usher in advantages within various industries. However, the technology is still nascent, and according to the recent Dynatrace survey there are many challenges and risks that organizations need to overcome to use this technology effectively ...
In today's digital era, monitoring and observability are indispensable in software and application development. Their efficacy lies in empowering developers to swiftly identify and address issues, enhance performance, and deliver flawless user experiences. Achieving these objectives requires meticulous planning, strategic implementation, and consistent ongoing maintenance. In this blog, we're sharing our five best practices to fortify your approach to application performance monitoring (APM) and observability ...
In MEAN TIME TO INSIGHT Episode 3, Shamus McGillicuddy, VP of Research, Network Infrastructure and Operations, at Enterprise Management Associates (EMA) discusses network security with Chris Steffen, VP of Research Covering Information Security, Risk, and Compliance Management at EMA ...
In a time where we're constantly bombarded with new buzzwords and technological advancements, it can be challenging for businesses to determine what is real, what is useful, and what they truly need. Over the years, we've witnessed the rise and fall of various tech trends, such as the promises (and fears) of AI becoming sentient and replacing humans to the declaration that data is the new oil. At the end of the day, one fundamental question remains: How can companies navigate through the tech buzz and make informed decisions for their future? ...
We increasingly see companies using their observability data to support security use cases. It's not entirely surprising given the challenges that organizations have with legacy SIEMs. We wanted to dig into this evolving intersection of security and observability, so we surveyed 500 security professionals — 40% of whom were either CISOs or CSOs — for our inaugural State of Security Observability report ...
Cloud computing continues to soar, with little signs of slowing down ... But, as with any new program, companies are seeing substantial benefits in the cloud but are also navigating budgetary challenges. With an estimated 94% of companies using cloud services today, priorities for IT teams have shifted from purely adoption-based to deploying new strategies. As they explore new territories, it can be a struggle to exploit the full value of their spend and the cloud's transformative capabilities ...
What will the enterprise of the future look like? If we asked this question three years ago, I doubt most of us would have pictured today as we know it: a future where generative AI has become deeply integrated into business and even our daily lives ...
With a focus on GenAI, industry experts offer predictions on how AI will evolve and impact IT and business in 2024. Part 5, the final installment in this series, covers the advantages AI will deliver: Generative AI will become increasingly important for resolving complicated data integration challenges, essentially providing a natural-language intermediary between data endpoints ...
With a focus on GenAI, industry experts offer predictions on how AI will evolve and impact IT and business in 2024. Part 4 covers the challenges of AI: In the short term, the rapid development and adoption of AI tools and products leveraging AI services will lead to an increase in biased outputs ...
With a focus on GenAI, industry experts offer predictions on how AI will evolve and impact IT and business in 2024. Part 3 covers the technologies that will drive AI: The question on every leader's mind in 2023 was - how soon will I see the return on my AI investment? The answer may lie in quantum computing ...