Introducing the Future of Generative AI in 2024

As we enter the new year, the world of generative AI continues to evolve and shape various industries. Last year witnessed the tremendous growth and influence of this emerging technology, leaving no industry untouched. Now, as we delve deeper into 2024, experts predict even more exciting advancements and applications.

Arun Chandrasekaran, VP analyst for generative AI, cloud, and innovation at Gartner, emphasizes that the momentum of generative AI shows no signs of slowing down. While 2023 was a year of intense innovation and planning, Chandrasekaran believes that 2024 will be the year of execution. Multiple industries, including gaming, media, entertainment, and technology product and services companies, will experience significant impacts.

One of the key trends to watch out for in 2024 is the emergence of multimodal generative AI. Chandrasekaran highlights how AI models are becoming more versatile, expanding beyond text-based capabilities. For instance, ChatGPT, an AI chatbot, has evolved to excel in code generation and even image generation. This multimodal approach opens up countless possibilities for businesses to harness the power of AI across various mediums.

Moreover, Chandrasekaran predicts the slimming down of models and the rise of more autonomous agents and action-oriented AI. Imagine interacting with an AI agent capable of understanding and executing higher-level intents. The level of autonomy and action-oriented AI could revolutionize how businesses operate and meet customer demands.

While the potential of generative AI is vast, it’s crucial to address the associated risks. Nikita Atkins, artificial intelligence lead at NCS Group, emphasizes the need for best practices and proactive measures to manage and police misinformation and deep fakes. As generative AI becomes more integrated into organizations, considerations around copyright, intellectual property, transparency, and trustworthiness become paramount.

Huw Kwon, MD and senior partner for artificial intelligence at Accenture, stresses the importance of strong foundations and frameworks for successful AI adoption. Organizations must not only focus on the data foundation, platform foundation, and cloud foundation but also ensure responsible and pervasive use of AI. Kwon cautions against neglecting core foundational requirements, as overlooking them can hinder scalability and increase the risk of data breaches.

In 2024, Kwon suggests a measured approach to harnessing the power of generative AI. By striking the right balance within the right framework and maximizing experiences within the current business context, organizations can leverage generative AI effectively. This approach enables companies to gain invaluable experience and customization, which cannot be bought or easily integrated retrospectively.

Looking ahead, multimodal technology will continue to gain traction. Generative AI expands beyond text generation, with voice, image, and video generation becoming significant areas to explore. The real potential lies in combining these modalities, allowing businesses to tap into the synergies of text, video, and more.

As we navigate through 2024, it’s essential to stay informed and adapt to the ever-evolving landscape of generative AI. Embracing the opportunities while mitigating potential risks will pave the way for innovative breakthroughs and transformative growth across industries. The time is now to embark on the generative AI journey and unlock its full potential.