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AI Predictions for 2024: Transforming Industries and Challenging Norms

TL;DR

  • AI’s rapid evolution in 2023 sets the stage for transformative changes in 2024.
  • Generative AI is poised to impact every industry, with a $33 billion market forecast by 2027.
  • AI security and responsible development are crucial as technology plays a prominent societal role.

As the year 2023 witnessed the rise of artificial intelligence (AI) as a dominant technological force, business leaders and policymakers are now turning their attention to the potential evolution of AI in 2024. With AI becoming a pivotal topic in various sectors, including generative AI, experts from different fields share their predictions and insights about the upcoming year.

AI’s Expanding Influence in 2023

In 2023, AI took centre stage, capturing the attention of businesses across all industries. The rapid development of large language models, such as GPT-4, introduced opportunities and challenges. As AI firmly enters organisations’ strategic plans, industry leaders and experts are eager to anticipate how AI will shape 2024.

AI’s transformational impact – Chris Sharp, CTO, Digital Realty

Chris Sharp, the CTO of Digital Realty, believes 2024 will mark a significant shift as AI continues to transform our lives and work. Integrating multi-modal generative AI tools will lead to more demanding AI workloads, necessitating adaptable and agile infrastructure solutions, particularly data centres, to support these applications effectively.

Zahra Bahrololoumi, CEO of Salesforce UK & Ireland, highlights the need for a skilled workforce to harness the potential of AI responsibly. She emphasizes the importance of training and stakeholder collaboration to bridge the digital skills gap. In the UK, where many workers lack the skills to use generative AI effectively, Bahrololoumi calls for establishing a national online digital skills platform.

Challenges and concerns – Sridhar Ramaswamy, SVP of AI, Snowflake

Sridhar Ramaswamy, SVP of AI at Snowflake, acknowledges that generative AI reimagines human-machine interactions and presents immediate challenges. These include job displacement, the proliferation of deep fakes, and exacerbating the digital divide. Addressing these issues will require collaboration between the private sector and governments to mitigate potential negative impacts.

Josep Bori, Thematic Research Director at Global Data, forecasts the generative AI market to reach $33 billion by 2027, growing at an impressive 80% compound annual growth rate. This growth is set to impact every industry, with generative AI acting as a catalyst for broader AI capabilities, including machine learning, computer vision, and autonomous robots. By 2030, the total AI market will be valued at $908.7 billion.

Geopolitical implications – competition and AI – Nicole Carignan, VP of strategic Cyber AI, Darktrace

Nicole Carignan, VP of Strategic Cyber AI at Darktrace, highlights the potential for AI-driven innovation but cautions about the risks of bad actors. In 2024, the focus will be on AI security to protect systems from breaches and to build trust in AI. As AI plays an increasingly prominent role in society, security measures will be crucial to realizing its opportunities while defending against novel attacks.

AI’s role in gaming – Steve Collins, CTO, King Digital Entertainment

Steve Collins, CTO of King Digital Entertainment, recognizes AI and machine learning as pivotal in the future of gaming. He highlights the use of AI in level design, where AI-driven simulations enhance gameplay and creativity. AI’s role in gaming will continue to evolve, shaping the gaming experience for players in 2024 and beyond.

Jan Stappers, GRC Specialist at ESG Platform NAVEX, underscores the importance of proper governance and risk management in the AI era. AI’s calculating power facilitates data analysis, risk prediction, and report generation. However, it also brings regulatory challenges, making compliance crucial. In 2024, organizations will need to adapt to a technologically sophisticated GRC landscape.

AI and digital learning – Hywel Carver, CEO of Skiller Whale

Hywel Carver, CEO of Skiller Whale, anticipates AI’s continued advancement and its impact on various industries. He predicts legal decisions regarding AI and copyright, AI-driven learning solutions replacing passive learning, and a diminishing fear of artificial general intelligence.

Anup Rege, VP and Chief Business Officer at Zensar, highlights the emergence of AI-driven devices that merge AI with the physical world. The introduction of wearable AI, such as the AI Pin, hints at groundbreaking applications that could transform how we interact with our environment. In 2024, we may witness the introduction of entirely new devices or augmentations to existing ones.

Ghazi Ben Amor, VP for Corporate Development at Zama, expresses concern about the potential for major breaches as AI systems handle increasingly sensitive data. Protecting confidentiality will be a top priority in 2024 as organizations entrust more data to AI. Ensuring robust security measures will be essential to maintain trust in AI.

AI’s impact on job creation – Matt McLarty, CTO at Boomi

Matt McLarty, CTO at Boomi, believes AI will create more jobs than it displaces in 2024. AI will lower the barriers to becoming a digital builder, leading to the emergence of “digital manufacturing” jobs. This shift will contribute to economic growth and workforce evolution.

Adam Zobler, General Partner at Fundamental, discusses the three layers of AI’s impact: foundational models, AI infrastructure, and AI applications. He emphasizes the importance of generative AI in addressing industry challenges and predicts the continued growth of AI-driven innovation in areas such as emissions reduction and building trust in AI.

The year 2024 holds the promise of further AI innovation, transformation, and challenges. Industry leaders and experts anticipate AI’s far-reaching impact across various sectors, from infrastructure and cybersecurity to gaming and education. As AI evolves, responsible development and security measures will be crucial to maximize its benefits while mitigating risks.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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John Palmer

John Palmer is an enthusiastic crypto writer with an interest in Bitcoin, Blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience.

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