In a rapidly evolving technological landscape, IT leaders are faced with the challenge of navigating transformative innovations and ethical considerations. As technology advances, the IT sector must strike a balance between leveraging emerging technologies and establishing ethical and operational guidelines for the ever-expanding influence of artificial intelligence (AI).
A comprehensive survey conducted by the Info-Tech Research Group has unveiled six pivotal AI-centric trends set to define the year 2024. These trends are poised to steer the digital strategy initiatives of Chief Information Officers (CIOs) worldwide.
AI trends for 2024
1. AI-Driven Business Models: Navigating with Precision
AI-driven business models pivot on the use of neural networks trained on extensive historical data to make accurate predictions, often supplemented by human feedback. According to the research, 66% of companies investing in AI by the end of 2024 expect positive impacts on their operations, compared to only 38% of non-investors. Only 3% perceive an existential threat from AI.
By the close of 2024, 77% of adopters plan to apply AI in business analytics and intelligence, while 71% intend to employ it in risk identification and security enhancement, illustrating AI’s transformational influence on strategic aspects of business.
2. Autonomized Back Office: Expanding Automation
Generative AI extends IT’s role in automating business systems by automating a wider range of tasks. These tasks include classification, editing, summarization, and content creation, based on adaptable models processing large volumes of unstructured data.
The report shows 47% are keen on adopting new features, while 37% seek more information and 16% wait for others to test. Currently, 33% use AI for low-level task automation, with 45% planning to do so by 2024. This underscores the momentum behind AI-driven workflows.
3. Spatial Computing: Bridging Digital and Physical Realms
Spatial computing promises to revolutionize how users interact with digital content in their physical surroundings. The research shows that AI adopters are 42% more inclined towards utilizing a generative AI-based interface compared to skeptics. Moreover, one in five adopters has already invested in mixed reality, indicating a growing interest in merging digital and physical experiences.
4. Responsible AI: Balancing Potential with Ethics
The potential misuse of AI looms large, from misinformation campaigns to concerns over mass unemployment and existential threats. While the regulatory framework for responsible AI is still evolving, organizations can take proactive steps now to adopt responsible AI frameworks, mitigating future compliance risks. According to the survey, one in three AI adopters believe that the CIO will be accountable for AI governance.
17% believe a committee or work group will be responsible, while another 10% believe accountability will be shared among two or more executives, potentially including the CIO.
5. Security by Design: Fortifying Software in the AI Era
Anticipating vulnerabilities and integrating robust defenses is crucial in an era dominated by AI and its inherent software complexities. The report reveals that a majority of organizations are planning to allocate more resources to cybersecurity in 2024, with over one in six organizations considering a budget increase of over 10%. Priorities differ for adopters and skeptics, with adopters emphasizing the importance of security awareness and staff training, while skeptics focus on third-party services like 24/7 intrusion detection.
6. Digital Sovereignty: Taking Control of Data
As generative AI relies on scraping the web for massive datasets, questions about data ownership and control become paramount. Organizations are now looking to safeguard their digital identity and data, seeking to prevent third-party AIs from training on their proprietary information. Courts and lawmakers are racing to catch up with these new capabilities, highlighting the urgency of establishing safeguards.
These AI trends for 2024 are set to reshape the IT industry, guiding CIOs in their pursuit of transformative innovation while upholding ethical standards. Embracing these trends promises a future where technology fuels progress, driving businesses towards unprecedented heights of success and innovation.
Source: Info-Tech Tech Trends 2024
Featured image credit: Image by Freepik
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