Generative AI: The Game Changer of Tomorrow
With Generative AI Advancements, Companies Must Think Big and Act Quickly
AI advancements will push companies to think and act big.
Move over internet, there’s a new kid on the block! According to the prestigious research and advisory firm Forrester, generative AI is about to revolutionize the world in ways we can’t even fathom. This technological marvel is set to become the fulcrum that businesses rely on to enhance, empower, and engage employees and customers. Brace yourselves, folks, because 2024 is going to redefine business as we know it!
The Top 15 Forrester Predictions for 2024
Get ready to be blown away, folks! Forrester’s crystal ball has some mind-boggling predictions for the year 2024. From the infiltration of generative AI in consumers’ lives to agencies betting big on “brand-specific” AI models, the future looks promising, albeit a tad bit unpredictable. Let’s dive into the highlights:
- Generative AI will seep into consumers’ lives. Around 60% of skeptics will unknowingly embrace and adore generative AI. Resistance is futile!
- AI will spur the age of creativity. Enterprise AI initiatives will boost productivity and unleash a creative revolution. From software development tasks to problem-solving, AI will be the ultimate sidekick.
- Agencies will bet big on “brand-specific” AI models. The top 10 agencies are primed to spend a whopping $50 million to build custom AI solutions for their enterprise clients. Talk about putting all your chips on the table!
- AI processing will hit a wall in 2024. Brace yourselves for a reality check! Limited chip availability will temper down irrational AI expectations and bring us back to our senses.
- The clouds will launch prompt engineering services to no avail. Cloud providers will attempt to accelerate value delivery with prompt engineering talent, but incomplete contextual data and limited experience in natural language processing will render their efforts futile. Looks like it’s back to the drawing board, folks!
- Backstage will take center stage. Spotify’s Backstage, an open-source developer portal, will reign supreme as the number one framework for self-service developer portals. Move over, Hollywood, it’s showtime for developers!
- GenAI will augment customer service agents’ capabilities. Cue the confetti, folks! Customer experience is about to get a much-needed boost. Improvements will be most pronounced in Europe and APAC, while North America and Canada battle it out for the gold medal in customer satisfaction.
- Marketers will become privacy champions. Privacy and marketing are finally becoming best friends. Five large consumer brands will dedicate resources to privacy, breaking the bottleneck that’s been holding them back. Privacy, meet marketing; let the bromance begin!
- Generational differences will alter B2B buying preferences. Millennials are reshaping the game! Two out of five millennial buyers will demand early access to B2B product experts. Looks like it’s time to cozy up to the experts, folks!
- An “EX Winter” will freeze employee experience investments. Brace yourselves, HR professionals! Employee experience teams will suffer from a lack of funding or focus. The struggle is real, but the show must go on!
- Europe will lead hybrid work adoption. Goodbye office, hello home! In Europe, 40% of employees will work from home regularly. It’s time to kiss those commuting nightmares goodbye.
- Climate risk will become employee experience risk. Mother Nature calls the shots! Employee action will force massive adaptations in five Fortune 500 firms. Change is in the air!
- Customer trust will remain up for grabs. Trusted sources of information are making a comeback! Social media’s reputation is crumbling, clearing the way for news organizations to shine. Fake news, meet real news!
- APAC firms will struggle to operationalize customer trust. Mission: Customer Trust! While 25% of APAC multinationals will vocally commit to customer trust, only 5% will effectively measure and implement it. Keep hustling, APAC!
- Regulators will have genAI in their sights. The law is coming! An app using ChatGPT will be fined for mishandling personally identifiable information. Oops!
Embrace the Future of AI
We get it, folks. The implications of generative AI can be concerning. Data security, ethics, and bias are hot topics on everyone’s minds. However, research shows that customers still crave the human touch. A whopping 81% of them want a human in the loop, validating generative AI outputs. Remember, every AI project begins as a data project, so let’s navigate this winding road together.
If you’re thirsty for more knowledge, you can check out Forrester’s research and 2024 predictions on their website. Get ready to witness the AI-powered future unfold before your very eyes. Buckle up, because the ride is about to get exciting!
Now, dear reader, we want to hear from you! What are your thoughts on generative AI and Forrester’s predictions for 2024? Are you excited or skeptical about this technological revolution? Let us know in the comments below!
