In 2023, the tech landscape was dominated by the buzz surrounding artificial intelligence (AI), machine learning (ML), and generative AI (GenAI).
However, amidst the frenzy, the substance of these technologies often took a backseat to sensationalism and repetitive narratives. As we enter 2024, it’s time to move beyond the headlines and delve into the practical implications and predictions for the future of AI and ML.
Good old-fashioned Fashioned Machine Learning Will Explode
While generative AI grabbed the spotlight in 2023, simple applications of machine learning, specifically narrow AI and supervised learning, are expected to experience a significant surge in 2024.
Executives, influenced by the pervasive hype surrounding AI technologies, are now paying closer attention. This shift in focus will lead to a substantial increase in well-defined, regression-solvable problems that are not only cost-effective but also easy to deploy.
Executives Will Really Try to Understand AI
With the growing awareness of AI technologies, executives are set to invest time and resources into understanding the intricacies of AI and ML. The hype surrounding these technologies has prompted decision-makers to explore their potential, moving beyond the surface-level understanding. This increased comprehension at the executive level is likely to drive strategic decision-making and foster a more nuanced approach to AI implementation.
ChatGPT, Bard & All the Rest Will Invade Everything
The proliferation of conversational AI, represented by ChatGPT, Bard, and similar technologies, will continue its widespread integration into various aspects of daily life. From customer service and virtual assistants to creative content generation, these AI-powered systems will become increasingly ubiquitous. Their presence will redefine user experiences, making AI-driven interactions an integral part of our digital interactions.
ROI Will Become Strategic OKRs
Return on investment (ROI) will transition from a mere financial metric to a strategic objective and key result (OKR) in 2024.
As organizations seek to justify AI investments, they will place a heightened emphasis on aligning AI initiatives with broader strategic goals. This shift reflects a maturation of AI adoption, with a focus on tangible outcomes that contribute to overall organizational objectives.
Business Schools Will Rethink Curriculum
The evolving landscape of AI and ML will prompt business schools to rethink their curricula. As these technologies become integral to business operations, educational institutions will need to equip future leaders with the skills and knowledge required to navigate the AI-driven landscape.
Courses focusing on AI strategy, ethics, and implementation are likely to become standard offerings in business education.
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Navigating the AI Evolution
As the hype surrounding AI and ML gradually gives way to a more nuanced understanding, 2024 promises to be a year of substantial growth and maturation for these technologies.
The focus on practical applications, executive comprehension, widespread integration of conversational AI, strategic ROI, and educational adjustments signals a shift towards a more pragmatic and informed approach to the transformative power of artificial intelligence.
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