What are the AI predictions in 2024? How will generative AI revolutionize businesses worldwide? These questions have sparked a wave of curiosity, leaving search engines in awe. People know that AI is a wave of revolution. It has taken the reins and will transform the world.
Tech-friendly businesses are excited to hear about new trends in AI and actively wait for updates to prepare themselves to stay ahead of the game. However, a minor percentage of companies are also concerned about their future.
Are you excited or worried? Among those, who are you?
If you’re excited, this article is for you. Read this AI forecast to know the top 5 AI predictions. These predictions will dominate the headlines throughout this year.
AI in Healthcare
Healthcare is an industry that has been highly investing in artificial intelligence. The experts claim that AI will further revolutionize it by 2024. Advanced machine learning algorithms will ensure more accurate diagnosis. Not only diagnosis, it will lead to the mass production of medicines and a more individualized treatment plan.
Generative AI has been integrated into medical imaging. It will further enhance the treatment of abnormalities and improve patient outcomes. The good thing is that many healthcare institutions have welcomed AI and are extremely happy with its excellent results. If you also want to take your healthcare business, getting generative AI development is the only solution.
Expensive healthcare treatment has always been a big concern worldwide. AI will also sort out this issue to a great length. AI is estimated to decrease treatment costs by 30% and increase positive patient outcomes by 40%. (Frost & Sullivan)
AI in Cybersecurity
In 2022, every second day, we all saw headlines regarding increasing cybersecurity attacks. But have you noticed that 2023 experienced fewer cybersecurity attacks compared to the stats of 2022? Thanks to artificial intelligence! Its generative AI-powered cybersecurity defenses are so robust that it has become complicated to hijack a digital asset today.
By 2024, you will see a dramatic shift from reactive to proactive cybersecurity measures. ML algorithms will continuously monitor patterns and identify vulnerabilities in a timely.
This shows that the future of AI in cybersecurity is bright. More companies will invest in hiring the best generative AI development company to protect their users’ sensitive data. This will also help them build and maintain customer trust in today’s digital world.
AI in E-commerce
Many of you would have talked with chatbots when getting online customer support. E-commerce stores love them because they work 24/7 to provide customer support. Now, they don’t hire a team of customer support representatives.
An AI chatbot performs the same work, even quickly and efficiently. The trend of AI chatbot development will further skyrocket in 2024. In the past, automatic customer support was a buzzword. However, today, all leading e-commerce brands hire chatbot development services to offer their users non-stop personalized customer support.
Chatbots use AI’s NLP technology. They automatically analyze the user profile and provide accurate customer support according to specific user behavior. If a complicated issue arises, the chat is redirected to a customer support representative to handle the query.
The best thing is that chatbots don’t get frustrated even if customers keep on repeating the same questions. According to expert predictions, the AI chatbot market will cross $9.4 billion by 2024. Moreover, 80% of e-commerce brands will use chatbots by 2024. So, you can see that 2024 will experience a dramatic AI revolution in e-commerce.
AI in Education
Since COVID-19, the education industry has revolutionized dramatically. The pandemic was believed to be a disguise for education, but it worked as a blessing. It can’t be false that it was COVID-19 that broke the barriers for AI to revamp education worldwide. And today, we all see that books are digitized, student emotions are assessed, and students enjoy learning with generative AI.
Personalized learning will be more prevalent in 2024. Academic platforms will use ML algorithms to offer students a personalized learning experience according to their strengths and weaknesses.
Many educational institutes use Gen AI-powered assessment tools. These tools help teachers evaluate student performance efficiently. Moreover, automated grading systems quickly grade assignments and quizzes. It helps teachers save valuable time and reduce the chances of errors.
HolonIQ, a leading impact intelligence platform, predicts the global EdTech market will reach $342 billion by 2024. It also predicts that more educational institutes will invest in AI-educational solutions. Institutes will invest in generative AI development services to provide their students with personalized education.
Ethical Considerations in AI
AI has become more integrated into our daily lives. It is a reason that the focus on AI ethical considerations is highly intensified today. The top AI companies worldwide have started collaborating to create strong AI systems that have excellent safety protocols. The goal is to ensure that businesses and common people use AI in an ethical way.
Recently, Meta and IBM started the AI Safety Alliance with industry leaders like Oracle, Intel, Dell, AMD, and the Linux® Foundation. The agenda of this alliance is:
– Addressing AI concerns
– Developing substitutes for closed AI systems
– Promoting responsible generative AI development
– Ensuring scientific rigor, trust, and diversity
– Paving the way for economic competitiveness
– Supporting AI hardware growth
– Advancing open AI technology development
– Setting global standards for responsible AI development
So, in 2024, you will see an increased emphasis on AI ethics and responsible Gen AI development. Not only development, there will be more responsible usage of artificial intelligence. There will be proper implementation of guidelines to address concerns like bias, privacy, and accountability.
Final Remarks
While exploring the future of AI and Gen AI within businesses, one thing is clear. AI innovation and regulation will interact significantly in the future. The AI predictions mentioned above present different possibilities. Each prediction has the potential to change the landscape of global business. It will be critical for industries and regulators to collaborate with each other to address ethical considerations and promote responsible AI development.