If 2023 made one thing clear, AI is here to stay. And I couldn’t be more excited about it.
Already, 71% of Gen Z and Millennials use Generative AI at least once a month. Incredible for a tool that was only introduced to us a year ago.
And it’s clear why we can’t get enough of ChatGPT and the likes:
- 81% of Generative AI users say the technology has improved their productivity, including 43% who say it significantly improved it.
- One in two users says Gen AI helps them automate Email and Communication, 45% use it for Data Analysis and Reporting. 42% use Generative AI tools for research.
- Microsoft Copilot users were 29% faster in a series of tasks (searching, writing, and summarizing).
- 87% found that using Generative AI helped them develop new skills. Of these, 63% say it has helped them develop creative and analytical skills, and 53% say it has helped them develop technical skills.
- 92% of Generative AI users say they expect it to have a positive impact, with 46% saying it will have an extremely positive impact.
With so many benefits and rapid developments, we should know how AI will impact us in 2024.
AI Trend 1: Generative AI's Rapid Advancement
Generative AI will continue its rapid development, reshaping numerous industries, from content creation to enterprise productivity software and specialized tools. Experts expect a major advancement in scale and capabilities with the upcoming release of GPT-5.
The trend underscores the growing significance of AI in the Workplace for automating and enhancing creative processes, potentially revolutionizing how content is created and consumed.
“Generative AI is poised for a breakthrough in 2024, as it begins to follow through on its promise of improving productivity, creativity and enhancing the way enterprises engage with their ecosystems. Expect to see Generative AI integrated into enterprise software, giving more knowledgeable workers the tools they need to work with greater efficiency and make better decisions,” said Paul Silverglate, vice chair, Deloitte LLP and U.S. technology sector leader.
Research agency Gartner predicts that in 2024, 40% of all enterprise software will have Generative AI embedded, up from less than 5% in 2020. Including AI in software people already use will help tackle the barriers to AI adoption and accelerate usage.
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AI Trend 2: Augmented Working
Aligned with the above, Bernard Marr writes about “Augmented Working” becoming mainstream in Forbes.
In 2024, augmenting our human intelligence and capabilities to perform our jobs more efficiently, safely, and quickly will be a crucial skill in the workplace.
“If you’re a legal eagle, it will help you quickly summarize relevant case law or speed up the drafting of contracts. Doctors will use it to assist them in writing up patient notes or medical images. Coders will use it to speed up writing software and to test and debug their output. If you're a student, it can help you organize notes and research, and if you're unemployed, it will help you write your CV and draft cover letters.” – Bernard Marr, AI Researcher
This also means there’s a risk that companies fall behind. With most knowledge workers using generative AI and finding ways of how to use AI to boost their effectiveness, companies that don’t embrace AI will face increasingly rampant competition.
As per IBM research, 75% of financial services CEOs surveyed believe that the institutions that implement generative AI in the most advanced way will have a competitive edge.
In my interview with Alexandra Samuel, a best-selling author and speaker on this topic, she recommended two key actions: inspire people to use AI and make time for experimentation.
AI Trend 3: Customer Experience will Finally Improve, thanks to AI
According to Forrester, the global average customer experience (CX) will improve for the first time in three years.
GenAI technology will augment customer service agents in 2024, enabling them to improve top CX drivers, such as answering questions faster and better, resolving problems on first contact, communicating clearly, and leaving the customer feeling respected.
For example, NatWest Bank recently announced enhancements to the bank's virtual assistant, Cora, that will use generative AI to give customers access to a broader range of information through conversational interactions.
IBM’s study shows that 54% of industry leaders have identified customer care as one of their top technology priorities.
People agree and can’t wait for this future to happen. A recent survey found that more than half of Americans (52.4%) are optimistic about the future of customer service and expect improvements with the integration of artificial intelligence (AI).
And it’s not just external customers: employees, our ‘internal customers,’ have many questions too. HR professionals are estimated to spend almost a third of their workweek answering questions.
Smart solutions like Notion Q&A can help take over this workload, allowing leaders and HRs to focus on where human interaction matters most.
AI Trend 4: Everyone Becomes a Creator
In our Generative AI at Work study, we heard from US-based knowledge workers that AI enabled them to write and edit (39%) and design (22%) better.
As fractional work, gig economy, and talent marketplaces become more mainstream, personal branding increases in importance. It’s one of the reasons analysts believe the creator economy will grow to almost half a trillion dollars in the next few years.
Generative AI will make it easier for people to create content and connect with audiences, especially in B2B. And not just static images and copy: ChatGPT can already turn napkin drawings into full websites and TLDraw upgrades a sketch into a full-blown game.
AI-powered tools make it easier to create content, but we’ll also have more time for it, as AI “frees up to 50% of the time to engage in creative problem-solving and innovation,” according to Forrester.
Want to learn more about AI? Check out our guide to AI in the Workplace, AI in Management , Women and AI and AI in HR.
AI Trend 5: Chip Shortages: AI Will Hit a Wall
Forrester predicts that the demand for GPUs and chips for AI has reached its limit and will hit a wall in 2024.
The research agency thinks large buyers such as Meta, OpenAI, Tesla, and cloud providers will be most affected, while Dell and Hewlett Packard Enterprise will continue to power smaller-scale enterprise applications.
The annual report by Microsoft recently identified the availability of graphics processing units (GPUs) used for AI as a possible risk factor for investors, marking the significant impact chip availability has on companies.
There’s also cost. The popular NVIDIA H100 AI processor sells for more than $40,000. While this will generate up to $50 billion for the industry, according to Deloitte, with the high cost of building enough computing capacity for LLMs, ambitions for AI projects are expected to be hindered.
But the cost of AI chips goes beyond the monetary: there’s also an environmental impact, with the H100 chip burning up to 700 watts of power. This goes against the ESG goals most companies are committing to in 2024.
Companies who want to leverage AI must prioritize applications based on the most apparent ROI in all aspects.
AI Trend 6: AI Legislation and Regulation
As AI becomes more pervasive, the need for robust legislative frameworks grows.
Countries worldwide are working on developing and harmonizing regulations to govern AI's ethical use, risk mitigation, and transparency.
As a result, we’ve seen efforts like the Bletchley Declaration and various national frameworks. The trend indicates a growing global consensus on responsible AI development and deployment.
However, the US trails behind the EU, which is making rapid progress in putting guardrails around AI development and commercialization.
Mike Beckley, The Chief Technology Officer at Appian, writes in FastCompany:
“We are far behind the E.U., and publicity stunts won’t help us catch up. Just two months ago, decision-makers in the E.U. passed a draft law known as the AI Act. This law would place new restrictions on “risky” use cases and require companies like OpenAI to disclose how data is used to create their programs. The AI Act would be the first significant law to regulate artificial intelligence if passed. We released plans and statements here in the United States, but nothing is enforceable or binding.” – Mike Beckley, CTO, Appian
The Bottom Line
We could never have pictured working with AI as we do today, even just one year ago when ChatGPT was introduced.
It’s, therefore, hard to predict what will happen in the future. One thing is almost guaranteed: Generative AI will only continue to improve and do so quicker than we’ve seen so far.
This will impact our jobs in more ways than we can imagine. I and the team will be here to keep you ahead, no matter what happens.
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