5 AI Trends to Expect in 2024

Over a year has passed since the release of ChatGPT and its influence on the business landscape has been transformative. This article will delve into the top five trends that promise to shape the future of businesses in 2024, focusing on the exciting developments that lie ahead besides the obvious hot topics revolving around bias, copyrights, ethics, regulations and legislations.

1. Customized Chatbots

Tech companies heavily invested in generative AI, such as Google and OpenAI, are poised to create user-friendly platforms that democratize AI application development. These platforms will empower and allow anyone, regardless of coding experience, to customize and build their own personalized chatbots. However, businesses must remain cautious over concerns regarding reliability, accuracy, and security in order to ensure long-term success.

Businesses can also curate their own local corpus which will train their chatbots, allowing them to easily customize their chatbots without heavy investments or coding experience. Kenja enables this through the Secure Collaboration Container (SCC), and enhances results through the Kenja Filtered Retrieval (KFR) feature. For example, NTT Comm’s chatbot uses Kenja’s SCC and KFR to ensure detailed and accurate responses to their clientele’s queries about the recent Japanese law which affects supplier invoicing. To learn more about Kenja’s work in AI, contact us here.

2. Augmented Working

AI augmentation is set to revolutionize productivity in the workplace even further, enabling new forms of collaboration and co-creation. By combining the strengths of humans (e.g. intuition, empathy, and creativity) and machines (e.g. speed, accuracy, and scalability), AI will enhance human capabilities and performance to elevate productivity and excellence in the workplace. This will be especially visible in the remote workspace and online education sector.

3. Convergence

There will be significant progress in the convergence of generative AI with other emerging technologies such as 5G, blockchain, and biotechnology. Simultaneously, the convergence of data modalities (i.e. text, images, and audio) will see an emphasis on multi-modal retrieval and inference. Expect generative AI to become more expressive, serving users seamlessly across different modalities. Also, watch out for transformative advancements resulting from these integrations which will unlock possibilities and drive innovation across the business landscape.

4. Quantum AI

As the development of quantum computing strides forward (with the help of tech giants like Google and IBM), it will rapidly move to the forefront of AI research. Quantum computing’s ability to enhance the speed and power of AI algorithms will have a revolutionary impact on data processing (e.g. faster classification of large datasets or solving complex problems). It will have a positive impact on time (i.e. timeframes), energy consumption, optimization, and much more.

5. Next Generation Generative AI

With the convergence of data modalities comes multimodal generative AI where various inputs like text, melodies, and visual cues can all be processed to create new data. This next generation of generative AI will be capable of weaving intricate narratives, narrating in various accents or languages, composing symphonies, and so on. It will redefine the line between human and AI-crafted masterpieces, opening the door to new opportunities but also a new wave of concerns.

Considering these five trends, it’s evident that AI will have a significant impact on the business landscape and will remain a strategic business imperative in 2024. Its multifaceted advantages such as competitive edge, value creation, performance enhancement, cost reduction, and revenue growth, underscore its indispensability as an asset. By understanding these trends, businesses will be better poised to the future developments of AI for their needs and objectives.