Just a year and a half ago, Artificial Intelligence (AI) was a niche speciality requiring expert training and interacting with AI systems in human languages – and getting a similar response – was a thing for sci-fi movies. But with the introduction of ChatGPT in November 2022, generative AI has become not only an integral part of virtually every business strategy but also a household name, where everyone is experimenting with different prompts to help them accomplish different tasks.
As the AI race between OpenAI, Google, Microsoft, and countless startups continues to intensify, the large language models will continue to evolve and become more efficient, accurate, and sophisticated. If 2023 was the year when the world was introduced to generative AI platforms, 2024 will see rapid growth and evolving artificial intelligence trends reshaping the way modern businesses operate.
But what does 2024 have in store for generative AI tools? Here are a few generative AI trends that will likely shape the business landscape in 2024:
AI-powered workplaces
Although the initial days of ChatGPT were filled with hesitation, apprehension, and scepticism, even the largest names in tech shied away from using the latest generative tool to optimise their workflows due to fears of data breaches. However, as 2024 has rolled around, many businesses are now leveraging mainstream or experimental AI tools to not only boost productivity but also foster innovation and creativity. Generative AI tools also support generative design and content (audio, speech, and video) creation to help streamline and automate not only operational workflows but creative processes as well.
Increasing demand for prompt engineering skills
The output and efficiency of generative AI tools depend greatly on the prompts these large language models receive. With many workplaces moving towards integrating generative AI tools into their day-to-day operations, the demand for prompt engineering skills will increase as businesses expect to get the best out of their AI investment.
Increasing investment in AI governance
Data security, privacy, and responsible use of training data have been the key challenges AI experts have been tackling as data analytics and AI capabilities have grown. Looking at the latest trends in AI and the increasing use of generative AI tools in day-to-day lives, an urgent need for stringent governance and regulations has emerged. 2024 will see major corporations, academia, and government regulators collaborate to build a robust ethical and regulatory framework for AI tools to ensure effective AI governance. This will especially be important with the increasing number of voice scams and deepfake videos that can easily spread misinformation and propaganda.
More personalisation with autonomous agents
Although 2023 marked rapid advancements in large language models and generative AI tools, they still rely on prompts and user interventions to function properly. However, as more personal devices incorporate AI going forward, with AI-augmented apps and services becoming readily available, an open multi-device ecosystem will emerge, empowering more autonomous agents. This can facilitate personalisation at scale, allowing users and businesses to get the most out of generative tools with minimal prompts and interventions.
Multimodal and open models
Increasing personalisation with AI tools will also lead to the artificial intelligence trend of multimodal and open models. These models will be able to combine different data types to use the input text (prompt) to generate things like images, audio, or videos. Additionally, open-source models are also likely to proliferate, democratising AI applications, which will lead to the survival of stronger models.
Better and more sophisticated offerings from AI startups
As the open-source trend in AI continues to grow, more AI startups will emerge, offering better and more sophisticated offerings when it comes to generative AI tools. The emerging startups will be able to offer more application-centric products, shaping the enterprise IT ecosystem.
Emergence of new use cases
The latest generative AI trends have not only impacted individual workers – improving their productivity – but also have the potential to transform entire industries by introducing new capabilities and augmenting human intelligence. Thus, new use cases will emerge across industries like education, healthcare, e-commerce, manufacturing, agriculture, construction, and many more. For example, multimodal AI tools can combine speech, text, and image inputs to improve diagnostic accuracy in healthcare. Generative AI platforms can transform modern classrooms, allowing teachers to generate lesson plans, create lesson notes, or prepare course summaries.
The bottom line is you would not be wrong to assume that we are on the brink of yet another transformative era due to the rapid evolution of AI and generative AI tools. 2023 marked a revolutionary turn in AI history, as many businesses embraced the latest artificial intelligence trends to streamline and optimise their operations. And 2024 is set to continue this revolution, with generative AI tools growing and becoming more sophisticated to address more specific challenges across industries.
From the integration of AI in modern workplaces and the rising importance of prompt engineering to the increased focus on AI governance and the emergence of new use cases, 2024 will see a transformative shift in the modern dynamic business landscape. More autonomous agents, multimodal tools, and open-source models will gain ground, opening up opportunities for personalisation at scale. As the journey of generative AI tools continues to unfold, leveraging the right generative AI platform will be the way to usher in the era of new possibilities and forge the path towards a technologically enriched future.
