It’s undeniable that nearly every industry experienced a collective transformation in 2023 due to the accessibility and innovation of AI technology. As we step into 2024, the landscape of Artificial Intelligence is promising an array of exciting new trends that will reshape industries, enhance human productivity, and unlock unprecedented possibilities.
We’re anticipating another promising year of AI advances that can directly translate into profitability for your business. Here are the six AI trends we are watching closely as we head into the new year.
Trend 1: Creating Video as Easily as Text & Pictures
2023 was filled with rapid advances in text-based AI tools like ChatGPT and image-based tools like DALL-E. 2024 will certainly feature even more power and more accuracy in these tools, but also rapid expansion into new and emerging areas, like AI-generated or edited video and voice.
Several traditional powerhouses in video software lead the pack on AI video. Adobe plans to make its Firefly AI a viable tool for every small and medium-sized company employing video. Just imagine the usefulness of being able to edit videos based on text inputs rather than going through a costly and time-consuming editing process. Adobe is also demonstrating the ability to make dramatic changes to existing videos such as shifting lighting and time of day. The end result? More flexibility and power in the hands of your business.
Trend 2: AI Supercharging Your Customer Service Team’s Productivity
Customer service is already one of the best ways small and medium-sized businesses can enjoy quick productivity and profitability gains by embracing AI. It works so well that a survey by Boston Consulting Group shows 95% of business leaders plan to utilize AI in customer service in the near future. So if this is the existing trend, what’s new for 2024?
AI is about to get much more useful for your employees.
Up until now, only the largest companies could afford specialized AI systems built on GPT tech to allow employees to ask questions in plain English and receive helpful responses. In 2024, this will be possible for companies of all sizes via products like Microsoft Copilot for Service, enabling your staff to give better answers to customers faster—and learn as they go at the same time.
Trend 3: Augmented Work So Employees Focus on What They Do Best
While most of us are familiar with virtual reality (VR), which places us inside a digital environment, not everyone knows about augmented reality (AR). The latter adds digital information on top of the real world. By augmenting the real world with additional information, experiences are enhanced. AI will have a similar impact on working in 2024 through a concept called augmented work.
When professionals engage in augmented work, they are no longer looking at AI as a mere tool to complete tasks, but more as a partner. For example, a developer will have an easier time completing a last-minute change to a software package when they have AI assistance to write the code and also debug it. More, in augmented working, AI doesn’t replace the human. However, it does take many routine tasks off their plate. The result? Increased productivity and happier employees.
Trend 4: AI Built into the Software You Use Daily
A key part of every Louder Co. client engagement is determining how AI can best contribute to the work processes and activities your staff undertake every day. Each company’s operations are unique to some degree, meaning not every AI platform fits the bill. The best ways to seamlessly integrate AI into workflows is to understand the new AI features added to existing software, or to have it built into the software your team uses repeatedly—and that is exactly what’ll happen in 2024.
We’ve already mentioned Adobe building its Firefly AI into popular design and video platforms like Premiere. Microsoft, the software in practically every office, will continue expanding its Copilot AI, including the much anticipated launch of Copilot for Excel. As these offerings prove to be popular and useful, expect more software platforms to follow suit.
Trend 5: Software Engineering Without the Need to be a Code Expert
Generative AI tools like ChatGPT are improving at an astonishing rate. While most of us knew that would happen, what has taken people by surprise is just how good AI systems are proving to be at writing code. So, what does this mean for small and medium-sized business?
The potential for low-code and no-code software engineering.
ChatGPT, Microsoft Copilot, and other AI platforms will be a fantastic resource in 2024 to create programs and apps for professionals with little or no coding background. The Louder Co. team doesn’t believe businesses should lay off software engineers and replace them with AI, but the technology certainly does open tremendous opportunities. Imagine rapid prototyping new software ideas or app designs to share internally. Your concepts will never be lost in translation to the software team again if you can show them a working model. Also, your software experts will be more efficient via debugging by AI as they work on projects, an example of augmented working.
Trend 6: A New Emphasis on Ethics and Transparency
As the other trends in this article show, the pace of innovation in AI isn’t slowing down. If anything, it’s ramping up. Any time tech changes at such a rapid pace, it becomes even more vital that business owners ask important questions about how the technology will be integrated into their organization.
Business leaders with the help of AI ethicists will put great emphasis on answering important questions about AI in 2024. Queries such as the following will become part of business conversations: “How is AI impacting my team?” and “Do my customers know when they are interacting with AI instead of a human?” We expect these questions, along with a surging interest in transparency about AI models and their training data, to be a major industry focus in the new year.
The trends we’ve covered make this the ideal time for small and medium-sized businesses to empower their organizations to new heights of productivity and profitability. Louder Co. specializes in working with you to find the perfect AI platform to match not only your current business processes, but where you want to be in the future. To start your journey of driving business success and employee engagement through AI, contact Louder Co. today to schedule a free consultation.