Author: Julia Voloshchenko
Artificial Intelligence (hereinafter referred to as AI) can be treated in different ways, but its active influence on almost all spheres of humanity cannot be denied. A few years ago, no one could imagine that it would be possible to generate text using AI, to generate images by constructing a plot in one’s head, and even to write code using AI.
Experts and analytical agencies around the world are sharing their predictions about AI. They include both positive aspects and concerns about the overuse of AI and data security. For example:
— Devin Coldewey, in an article for TechCrunch, predicts a rise in AI misuse lawsuits
— The IBM research emphasizes that companies’ use of generative intelligence will increase and “yields tangible business results.”
— Rob Toews, in an article for Forbes, considers the following interesting point: “A number of Fortune 500 companies will create a new C-suite position: Chief AI Officer.”
— McKinsey Global Institute forecasts a possible $4.4 trillion annual increase in corporate profits due to AI and emphasizes its strategic importance. In addition, more and more companies are beginning to actively incorporate generative AI into everyday applications.
Usetech did a little survey among AI experts, asking them a few questions:
— How do you see AI evolving in 2024?
— What concerns do you have about the use of AI?
— How does your company use AI, and how does it plan to use it in 2024?
In doing so, we discovered what issues experts are worried about today and will be worried about in 2024, as well as how experts are already using AI in their organizations.
How will AI evolve in 2024?
Many experts have noted the rapid development of AI and the adoption of generative AI by companies into their workflows. In addition, some companies have long ago automated routine processes with the help of AI.
“AI implementation is expected to start having a significant impact on business processes, changing the approach to automation and increasing business efficiency, — notes Sergei Alexandrov, IT Solutions Consultant at Usetech. — Our clients quite often come to us with a similar request: automation of routine business processes. It is worth noting that many are also interested in Data Science and Big Data services, which are among the most popular technologies at the moment. We can’t ignore an issue that many experts are concerned about: the security of AI-generated data. “Rising costs for IT services and software using AI, will drive up security costs and will be a priority for companies. The increasing need for data protection will create a favorable environment for cybersecurity innovation.” — notes Sergei.
“Businesses are using AI as an added value part of their business. I saw another demo today showing an absolutely realistic sales call fully navigated by AI. Here is the link to the TikTok I made about it. So, if you thought spam texts were bad, now be prepared to not know if the voice you hear is a human’s voice.” — Robert Brill, CEO of Brill Media, points out.
The following thoughts are shared by Tim Green, COO of TeamUp:
“In 2024, I foresee AI becoming more ingrained in our daily operations, particularly in the realm of predictive analytics. Leveraging machine learning algorithms, we’ll be able to anticipate client needs with greater accuracy, enhancing our service offerings. Furthermore, the integration of AI with IoT devices will open up new avenues for personalized user experiences. As AI models become more sophisticated, they’ll be capable of handling complex tasks, further automating our processes and increasing efficiency.”
“I see AI adoption rates soaring in 2024 as more professionals in the design and marketing fields start to worry about falling behind, and their clients get more comfortable with the idea. For our field, at least in the short term, I see usage evolving more into the person + AI realm of enhanced productivity, instead of the AI replacing staff”. — adds John Fuller, seasoned designer and consultant at Phoenixfire Design & Consulting.
Interesting thoughts can also be heard from David Klein, Co-Founder of Orange Line:
“AI started with a bang, but slowly tapered off for many companies who haven’t been able to integrate it to meaningfully support their business objectives. These are areas where we will continue to see AI gains and adoption for digital marketing:
— Hyper-Personalization — offering a much more tailored experience to the consumer
— Predictive Targeting — this is becoming even more important as many cookies become deprecated.
— Accelerated Creative Capabilities — we’ve already seen great wins in this area, but things are only getting started.”
Concerns about the use of AI
Concerns about the security of AI-generated data have already been expressed at the beginning of this article, and this is supported by the words of George Yang, The Founder of Yanre fitness and OxygenArk:
“My biggest AI worry is the protection of personal info. AI systems that handle personal data are getting more complicated, which raises the risk of data breaches or using AI in an illegal way. Services might lose the personal touch that is so important in health and medicine.”
“My main concern with AI remains misinformation. As a tool, it can be incredibly powerful, but it needs education to be used safely and efficiently. As individuals, companies, and governments, we all need to ensure the wider public understands what it is and how it works instead of being scared of it.” — adds Giancarlo Erra, Founder and CEO of AI-enhanced startup Words.tel, as well as Copyforge AI, Tweetify It and Audioshapes AI.
Anne Kim, CEO/Co-Founder of Array Insights, also gives her perspective on the safety and ethics of AI:
“While AI holds great promise, we are acutely aware of the ethical concerns it poses, particularly around data privacy and bias in algorithmic decision-making. Ensuring that AI systems are transparent, equitable, and respectful of patient confidentiality is a priority for us. We are committed to addressing these concerns through rigorous ethical guidelines and continuous auditing of our AI systems. The best systems are seeded by AI, but ultimately approved by a person.”
How are companies already using AI, and what do they plan to do in 2024?
“We use chat agents to speed up copywriting, passing along savings to clients. In November 2023 we programmed a chat agent that understands the key tenets of the best copywriters and the most proven copywriting frameworks. It scans the advertiser’s website to understand language in the feel of the advertiser’s existing brand persona. That chat agent is used to deliver higher performing ad copy faster, and less expensively, than working with a team of copywriter’s. Clients are happy, and the work is better. We’re planning to create more opportunities with AI to make our report writing sharper and to help speed up the process of our work.” — notes Robert Brill.
Sergei Alexandrov shares the following thoughts:
“We provide clients with AI services and allow them to experience the full power of AI in cooperation with Big Data or Data Science. In addition, our expert took part in the development of chatbots for call centers, which increased their efficiency several times. We are also actively helping clients implement AI in areas such as Manufacturing and Oil & Gas.”
“ , . By analyzing user behavior and preferences, we’ll be able to offer tailored recommendations, enhancing customer satisfaction.” — adds Tim Green.
An interesting idea for using AI in brainstorming, shared with us by Tim Wolski, Chief Marketing Officer at OakEx:
“Generally, we use AI at the ideation stage. That is, we use AI to help us brainstorm and find tangential concepts to explore. The platform, at OakEX, also uses AI to help our clients find the most appropriate opportunities for their investments. In 2024, we are also going to use AI more in the finishing steps, using it to help us polish the final output and ensure we don’t have simple mistakes.”
Conclusion
Hopefully, the opinions of industry leaders on AI will give you new thoughts and opportunities about it. No one knows how the technology will evolve further, but as long as AI is a driving force, don’t miss the chance to test it out and take your business to the next level.
