GENERATIVE AI EXPOSES NEW OPPORTUNITIES FOR MANY ORGANISATIONS TO CAPTURE MARKET SHARE FROM THEIR DIRECT COMPETITORS AND EXPAND INTO ADJACENT MARKETS .
DISRUPTIVE TECH
GENERATIVE AI EXPOSES NEW OPPORTUNITIES FOR MANY ORGANISATIONS TO CAPTURE MARKET SHARE FROM THEIR DIRECT COMPETITORS AND EXPAND INTO ADJACENT MARKETS .
Alteryx has released its predictions for AI trends in the year 2024 . These insights reflect a comprehensive understanding of the evolving business landscape and the revolutionary impact of data-driven AI technologies .
Fuelled by its potential to revolutionise industries , boost productivity , and spur unprecedented innovation , the excitement around AI and , more specifically , generative AI was unmistakable in 2023 . The anticipation is not just about the technology itself , but the promise it holds for transforming the business landscape by accelerating data-driven insights capable of redefining the competitive dynamics of every sector .
From data collection to analysis , interpretation to reporting , generative AI will revolutionise decisionmaking by enabling employees to act and stay ahead of the curve .
As business leaders strive to take advantage of this era of decision intelligence , the focus for every sector in 2024 will be on harnessing AI ’ s power for business value by making AI-driven decision-making accessible and secure for the entire workforce .
Karl Crowther , VP MEA at Alteryx highlights the surge in enthusiasm for accessible and secure AI-driven decision-making technology . “ Reflecting on the dynamics of the current business landscape of 2023 , the new year offers opportunities to further push boundaries , explore uncharted territories , and utilise technology and innovation to redefine success in the Middle East ’ s dynamic business ecosystem .
“ However , a business-wide approach to data-driven decision-making that empowers the entire workforce to take full advantage of technology such as AI is crucial to success . Our focus for the coming year is to continue to simplify the complexities of data science and help democratise accessible AI through intuitive , low-code and no-code solutions that empower all to navigate this era of AI-driven intelligence .”
Reshoring work
With AI and automation simplifying many tasks , more companies are expected to bring outsourced work back home . McKinsey believes the demand for these physical and manual tasks will decrease significantly by 2030 in favour of technological and cognitive skills .
As organisations focus on upskilling and reskilling their workforce skills crucial in an AI-driven future , data analytics , data science , and machine learning will be critical . There will also be a rise in new graduates skilled in data handling , reflecting the growing emphasis on data literacy in education .
Competitive dynamics
Generative AI exposes new opportunities for many organisations to capture market share from their direct competitors and expand into adjacent markets . Alteryx recently surveyed data leaders globally and found that one of their top main drivers for adopting generative AI was to predict business performance and industry trends .
As more organisations unlock the potential of generative AI , market share capture from direct competitors and expansion into adjacent markets will become the new norm .
Governance frameworks
The top two reasons for not yet implementing generative AI came down to data privacy concerns and lack of trust
www . intelligentcio . com INTELLIGENTCIO MIDDLE EAST 73