Grid Dynamics Insights
Top 10 AI Trends for 2024
Prepare to embrace, adopt, and scale your business to meet the next wave of innovation
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In achieving a delicate equilibrium between harnessing AI capabilities and safeguarding against potential threats and challenges, business executives will utilize technology to assert control over the terms of this ongoing symbiotic relationship with AI.
In achieving a delicate equilibrium between harnessing AI capabilities and safeguarding against potential threats and challenges, business executives will utilize technology to assert control over the terms of this ongoing symbiotic relationship with AI.
Embark on a journey of innovation: Decoding the generative AI revolution
Explore 10 pioneering AI trends, uncover the power of generative AI, and witness how Grid Dynamics is spearheading innovation. Download now to gain exclusive insights to transform your organization and stay at the forefront of the AI revolution.
Key takeaways
Redefine the future of technology
Explore the transformative power of generative AI in 2024, liberating businesses and employees from mundane tasks to focus on strategic decision-making.
As generative AI reshapes industries, our e-book navigates the challenges of safeguarding intellectual property and deploying AI responsibly. Delve into the depths of data analysis and discover cutting-edge examples of AI, predictive analytics, and machine learning that redefine innovation.
Navigate the generative AI revolution
For business leaders, success in 2024 requires identifying risks, building trust, and ensuring security. Learn how to find the right talent, navigate evolving technology ecosystems, and leverage partnerships for generative enterprise development.
Unravel the AI landscape
Explore the top 10 AI trends shaping 2024, unveiling new opportunities and risks in this transformative era. Grid Dynamics leads the way, offering insights and strategies to help your enterprise thrive in the evolving technology landscape.
A snapshot of the top ten 2024 AI trends
1. Strategically adopting generative AI for maximum business value
Key to this generative AI trend is strategic adoption. By 2026, over 80% of enterprises will leverage generative AI, yet, only 54% of projects progress beyond initial stages. In the face of increased software spending and rising interest rates, discover how to align AI initiatives with clear ROI and strategic vision for unprecedented and sustainable competitive advantage.
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2. Monetizing data for AI success
Organizations are appointing C-level roles dedicated to overseeing data monetization, with a projected 200% increase in the adoption of vector databases. Closing the skills gap in prompt engineering is also crucial, as 60% of employees are expected to receive AI communication training. Explore how you can achieve a 20% boost in model accuracy through data quality improvement, and enhanced data lakes for relevant insights, better decision-making, and increased stakeholder trust.
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3. Harnessing composable commerce for measurable generative AI success
90% of the top 500 US organizations value intangible assets in their balance sheets: data, software, brand, and customer experience. Your choice of technology significantly influences the swift scaling of these assets. Learn how integrating generative AI with composable commerce in the MACH ecosystem positions businesses as innovative leaders with the agility to boost these assets, and open new avenues for growth and innovation.
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4. Elevating customer experience with conversational AI and XR
Customer experience will be transformed with generative AI, extended reality (XR), and conversational AI experimentation by major brands. Despite the hype, 48% of consumers still express discomfort with AI-powered self-service. With this in mind, customer service will become the primary driver of purchases, even surpassing the appeal of low prices. Discover cutting-edge conversational AI strategies that preserve the human touch.
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5. Minimizing harm with responsible AI practices
Industries are on the brink of a transformative era, aligning innovation with ethical considerations. Accountability in AI governance and data privacy is underscored, with CIOs playing a key role. Notably, 33% of organizations are now publishing clear explanations of AI use and conducting impact assessments, and Governments are swiftly moving towards legislation to ensure safe, secure, and trustworthy AI development. Learn about Retrieval-Augmented Generation (RAG) and LLMOps to effectively mitigate these risks.
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6. Building cyber resilience through intentional design
Organizations recognize the urgency of cyber resilience, exemplified by over one in six planning a cybersecurity budget increase of more than 10%. The rise of AI introduces new risks, prompting regulatory scrutiny and emphasizing the need for intentional design against evolving cybersecurity challenges. Unpack this proactive approach to anticipate and defend against emerging threats, address privacy challenges in cloud computing, and place regulatory emphasis on security practices, and strategic resource allocation.
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7. Cloud-powered, AI-augmented development and testing
With a projected 30% of enterprises adopting AI-augmented development and testing by 2025, the shift toward intelligent automation and leaner software creation is clear. Discover the pivotal role of AI-as-a-Service (AIaaS) in democratizing AI access, witness the rise of hybrid and multi-cloud strategies, and understand the significance of real-time cloud infrastructure for immediate decision-making. Uncover the push for simplified cloud computing with low-code/no-code tools, empowering users while ensuring a balanced approach.
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8. The rise of partnership-led innovation in 2024
The symbiotic relationship between businesses and partners in 2024 is crucial, with 78% of forward-looking decision-makers preparing for co-innovation. This shift positions partnerships as strategic pillars, enhancing capital efficiency, customer service, and lead generation. Find out how generative AI, championed by major vendors, intertwines with partner-led innovation, ushering in transformative possibilities.
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9. Growing demand for business process re-engineering to maximize AI opportunities
Business Process Re-engineering (BPR) involves the radical transformation of business processes, targeting key areas like quality, output, cost, service, and speed to reduce enterprise costs. Uncover how BPR enables enterprises to optimize resource utilization, set clear goals, and adopt new technologies, crucial for unlocking the full potential of AI, particularly generative AI.
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10. Looking beyond the AI revolution
Uncover the promise of computational supremacy with quantum computing and the pivotal role of sustainability in carbon capture, circular economy practices, and green cloud computing. Learn about the intersection of generative AI and sustainable practices for enhanced efficiency in connected workforces.
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