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Artificial intelligence , AI is everywhere , and stories about its promise and threat are rampant . Will AI ’ s potential be realised in the year ahead ? SAS , the vendor in AI and analytics , asked executives and experts across the company to predict trends and key business and technology developments in AI for 2024 . Below are some of the predictions they shared .
Generative AI technology does a lot of things , but it cannot do everything . In 2024 , organisations will pivot from viewing generative AI as a stand-alone technology to integrating it as a complement to industry-specific AI strategies . In banking , simulated data for stress testing and scenario analysis will help predict risks and prevent losses .
In health care , which means the generation of individualised treatment plans . In manufacturing , generative AI can simulate production to identify improvements in quality , reliability , maintenance , energy efficiency and yield .
The workforce implications of AI will start being felt in government . Governments have a hard time attracting and retaining AI talent since experts command such high salaries . However , they will aggressively recruit for expertise to support regulatory actions . Additionally , enterprises and governments will increasingly turn to AI and analytics to boost productivity , automate menial tasks and mitigate that talent shortage .
In 2023 , there was a lot of worry about the jobs that AI might eliminate . The conversation in 2024 will focus instead on the jobs AI will create . An obvious example is prompt engineering , which links a model ' s potential with its real-world application . AI helps workers at all skill levels and roles to be more effective and efficient .
Even as consumers signal increased fraud vigilance , generative AI and deepfake technology are helping fraudsters hone their multitrillion-dollar craft . Phishing messages are more polished . Imitation websites look stunningly legitimate . A crook can clone a voice with a few seconds of audio using simple online tools .
We are entering the Dark Age of Fraud , where banks and credit unions will scramble to make up for lost time in AI adoption – incentivised , no doubt , by regulatory shifts forcing financial firms to assume greater liability for soaring authorised push payment frauds .
Shadow AI , multimodal AI
CIOs have struggled with shadow IT in the past and will now confront shadow AI , solutions used by or
Bryan Harris , Chief Technology Officer , SAS
The myth of AI as a cure-all will trigger tens of thousands of faulty business decisions that will lead to a corporate collapse .
AI technologies in 2024 and beyond may cause some short-term disruptions in the job market . However , they will also spark many new jobs and roles that will help drive economic growth .
Dark age of fraud
As marketers , we must consciously practice responsible marketing . Facets of this are awareness of the fallibility of AI and alertness to possible bias creeping in . While AI offers the promise of enhanced marketing and advertising programmes , we know that biased data and models creates biased results . developed within an organisation without official sanction or monitoring by IT . Well-intentioned employees will continue to use generative AI tools to increase productivity .
And CIOs will wrestle daily with how much to embrace these generative AI tools and what guardrails should be put in place to safeguard their organisations from associated risks .
The integration of text , images and audio into a single model is the next frontier of generative AI . Known as multimodal AI , it can process a diverse range of
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