Embracing the Future: How Generative AI Innovations Are Driving Rapid Change for Businesses

Forrester: Generative AI, since the internet, is the most.

Also: Microsoft’s move means for ChatGPT’s future: 3 possible paths

15 Forrester predictions for 2024: 

  1. Generative AI will seep into consumers’ lives. 60% will use (and love) generative AI — knowing it or not.
  2. AI will spur the age of creativity. Enterprise AI initiatives will boost creative problem-solving by 50%. Current AI projects cite improvements of up to 40% in software development tasks.
  3. Agencies will bet big on “brand-specific” AI models. The top 10 agencies will spend $50 million to build custom AI solutions for enterprise clients.
  4. AI processing will hit a wall in 2024. Limited chip availability will tamper down irrational AI expectations.
  5. The clouds will launch prompt engineering services to no avail. 80% of firms will add prompt engineering talent internally. Cloud providers’ first-gen services will not suffice in addressing tailored needs.
  6. Backstage will take center stage. Backstage will be the number one framework for self-service developer portals.
  7. GenAI will augment customer service agents’ capabilities. Customer Experience (CX) will improve most in Europe and APAC.
  8. Marketers will become privacy champions. CMOs at five large consumer brands will fund dedicated privacy resources.
  9. Generational differences will alter B2B buying preferences. Forrester predicts that 40% of younger buyers will rate personal interactions as meaningful.
  10. An “EX Winter” will freeze employee experience investments. In 2024, many teams that drive employee experience (EX) will suffer from a lack of funding or focus.
  11. Europe will lead hybrid work adoption. 40% of European employees will work from home regularly.
  12. Climate risk will become employee experience risk. Employee action will force accommodations at five Fortune 500 firms.
  13. Customer trust will remain up for grabs. News organizations will have a resurgence as trusted sources of information. 
  14. APAC firms will struggle to operationalize customer trust. Forrester estimates that by the end of 2024, 25% of APAC’s largest companies will vocalize their strategic commitment to customer trust.
  15. Regulators will have genAI in their sights. An app using ChatGPT will be fined for its handling of personally identifiable information.

81% of customers want a human to review and validate generative AI outputs. Businesses need a new operating model to compete in an AI-powered economy.

To learn more about Forrester’s research and 2024 predictions, you can visit here.