Hits, Misses & The Democratisation of AI in 2024
Generative AI systems have emerged as a transformative force across various industries, butthey continue to exhibit limitations in tasks requiring complex reasoning, and the anticipated revolutionary impact on industries and employment is yet to occur
As the year comes to an end, it offers an interesting insight into the trajectory of technology gleaned from forecasts that have come true, and those which have failed to hit the mark. Generative AI has emerged as a transformative force across various industries, enhancing content creation, customer service, and personalised user experiences. A McKinsey survey indicates that AI adoption surged to 72% in 2024, up from about 50% in previous years, signifying a substantial increase in the implementation of AI technologies, including generative AI, across organisations worldwide.
A major contributing factor, according to a survey published by NTT Data, to the positive sentiment toward GenAI is the democratisation of the technology. GenAI is accessible to and being taken up by nontechnical users, who can interact with these tools using natural language and without the need for deep technical knowledge. NTT interviewed more than 2,300 GenAI decisionmakers and influencers from organisations across 12 industries, spanning 34 markets around the -world, to generate this report.
This level of accessibility has broadened GenAI’s appeal greatly, as it offers a significant advantage over traditional AI when it comes to creativity, the report underscores. Anyone can generate text, images, code, music and more, opening up vast possibilities for artistic expression, innovative design and exceptional problem-solving.
Furthermore, there is now a vast amount of online content that can be used to fuel the engine by acting as training data for GenAI models. And, crucially, cloud computing is providing the powerful, scalable and cost-effective infrastructure – readily available to both technical and nontechnical users – for these models to function. It’s no surprise, then, that 97% of CEOs expect a material impact from GenAI and 99% of respondents are planning more GenAI investment, with 90% saying legacy infrastructure is hindering their use of GenAI.
Personalised AI Chatbots
One of the major developments of 2024 has been the deployment of personalised AI chatbots tailored to specific organisational needs has also seen significant growth. The global chatbot market is projected to reach $19.6 billion by 2024, growing at a compound annual growth rate (CAGR) of 27.4% from $2.6 billion in 2019, reflecting the rapid adoption of AI chatbots across various sectors.
In the healthcare sector, artificial intelligence has significantly advanced remote services. The global market for AI in healthcare was estimated at around $19.27 billion in 2023; it’s projected growth at a CAGR of 38.5% from 2024 to 2030 highlights the growing incorporation of AI into healthcare services.
Self-driving Cars Fail to Come True
However, not all technological forecasts have come to fruition. Despite ambitious projections, fully self-driving cars remain unrealised. Elon Musk, CEO of Tesla, had predicted complete autonomy by 2018 and later adjusted this to 2021. As of 2024, Tesla’s vehicles have not achieved full self-driving capabilities, and the company has yet to apply for necessary permits to operate autonomous vehicles in the US.
Similarly, Apple’s venture into autonomous vehicles, known as Project Titan, faced significant setbacks. Initially aiming for a fully self-driving car, Apple scaled back its plans to focus on basic driver-assistance features, with a projected release around 2028. In February 2024, the company announced the cancellation of the project, reallocating resources to generative AI initiatives.
Limitations of AI
The launch of OpenAI’s ChatGPT spurred expectations of rapid advancements in artificial intelligence, including concerns about widespread job automation. However, by late 2024, these transformative changes have not materialised. Generative AI systems continue to exhibit limitations in tasks requiring complex reasoning, and the anticipated revolutionary impact on industries and employment is yet to occur.
Agentic AI in 2025
Building upon the developments and setbacks of 2024, several technological advancements are anticipated in 2025. The emergence of agentic AI, capable of making autonomous decisions, is expected to transform business operations. Gartner predicts that by 2028, at least 15% of day-to-day work decisions will be made autonomously through agentic AI, up from 0% in 2024.
The development of robots capable of performing multiple functions is anticipated to advance. By 2030, 80% of humans are expected to engage with smart robots daily, up from less than 10% today.
The implementation of AI governance platforms is expected to enhance customer trust and regulatory compliance. By 2028, companies utilising AI governance platforms expect 30% higher customer trust ratings and 25% better regulatory compliance scores compared to competition.
Increased Cyberthreats
As companies become increasingly data driven, encourage data sharing, and adopt hybrid systems of working, their IT systems will become more vulnerable to cyberthreats from malicious actors. There will be increased efforts to automate threat detection, especially using AI-driven threat intelligence, as well as an effort to prepare for the future by reinforcing encryption algorithms, especially the growing interest in Post-Quantum Cryptography to shieldfromquantum-computing threats – the next expected disruption. This shift marks a broader transformation in corporate security and the growing trust in autonomous systems.
The projections suggest a continued focus on AI and robotics, with significant advancements expected in autonomous decision-making, multifunctional robotics, and AI governance, shaping the technological landscape of 2025.
Acknowledgement:www.capgemini.com