AI predictions: Top 13 AI trends for 2024

Discover what's coming in 2024 with our easy-to-follow guide on the top 13 AI trends.

Guess what? The worldwide AI market is predicted to hit a huge $190.61 billion by 2025, with a super-fast growth rate of 36.62 percent every year.

AI software is changing our world really fast, and it's going to speed up even more in the next few years.

Let's jump into the future of artificial intelligence with our guide on the 13 big AI trends expected to shake things up in 2024.

Explore everything from the growth of generative AI to BYOAI (Bring Your Own AI) and the rules and regulations around AI. Find out how these things are making a big impact on the world around us.

1. Generative AI: The most disruptive trend of the decade

Generative AI, also called GenAI, is like a smart robot that can make new and creative things, like writing, coding, music, and more. It learns from a lot of information and then uses that learning to create new stuff.

But don't worry; it won't replace writers and designers because it still makes mistakes. Instead, it helps them by doing things faster, like creating pictures and words, changing them to be shorter or longer, and checking for mistakes.

This GenAI trend isn't just for writers and designers; it can help with any job. It makes things faster, saves money, and creates new chances for growth.

Imagine more people having access to these smart tools. That's why experts say that by 2026, most big companies will use GenAI in their work—more than 80 out of every 100 companies! This is a big change from only a few companies using it now.

2. Augmented working, BYOAI & Shadow AI

Bring Your Own Artificial Intelligence (BYOAI) is a new thing at work where employees bring their own smart tools to do their jobs. This is happening because it's easier to get and use these tools, and companies need more people who know how to use them. About 60 out of every 100 workers are expected to bring their own AI tools, says Forrester.

BYOAI has good things about it, like making work better and saving money. It helps people do their jobs better and be happier at work.

But, there's a tricky part called Shadow AI. It's like using secret AI tools at work without telling the IT (Information Technology) people. This can cause problems:

1. Private Info and Security Issues: Secret AI tools might not protect important information, so it could be stolen or lost.
2. Breaking Rules: These tools might not follow important rules, and that can lead to legal problems.

3. Open source AI

In 2023, there was a big increase in the use of smart technology called generative AI. OpenAI, the company behind it, made their own powerful model called ChatGPT 3.5 Turbo, which we used for our Pragmatic AI chatbot.

But now, more and more groups are starting to use free-to-use models, like GPT-J.

These free models are better because they're clear, easy to change, can be adjusted a lot, and don't cost as much as the ones you have to pay for.

It doesn't mean the paid models will go away, but in the future, more people will use the free ones. Forrester says about 85 out of every 100 big companies will use free AI models soon.

4. AI risk hallucination policy

Even though GenAI is really smart, it can sometimes make things up that seem true. These made-up things are called hallucinations.

As more and more people use GenAI, there's a worry that these hallucinations might cause problems. People will want insurance to protect them from these made-up things.

Right now, not many people have this kind of insurance, but it's going to become popular fast. Forrester predicts that in 2024, a big insurance company will start offering a special insurance policy just for the risks of AI hallucinations. So, in the future, a lot of money will be made from this kind of insurance.

5. AI coding

According to Gartner, in the year 2028, three out of four software engineers at big companies will use AI helpers to write code. Just to give you an idea, back in early 2023, fewer than one out of ten engineers used these helpers.

Why is this becoming popular?

Well, artificial intelligence helps developers in a bunch of ways, like:

1. Doing repetitive tasks automatically (like making code and formatting documents).
2. Making creative tasks better.
3. Making sure the code is really good.
4. Helping solve problems.

With AI making the development process so much easier, it's safe to think that almost everyone you know at work is already using AI tools to get more done and finish projects faster.

Pretty soon, if it's not happening already, using AI for coding will be a normal thing to do. People who don't start using these tools might end up falling behind others in their work.

6. AI TRiSM

AI TRiSM, which stands for Artificial Intelligence Trust, Risk, and Security Management, is like a guide for organizations using AI. It helps them handle the risks that come with creating and using AI models.

Here are the five main things AI TRiSM takes care of:

1. Explainability: It helps organizations understand how their AI models make decisions and spot any possible biases.
2. ModelOps: AI models need to be looked after, just like any other computer program. AI TRiSM gives tools and ways to automate and keep an eye on AI models throughout their whole life.
3. Data Anomaly Detection: If the info the AI learns from is wrong, the results won't be good either. AI TRiSM helps find and fix mistakes in the data that might cause errors in AI models.
4. Adversarial Attack Resistance: AI TRiSM provides tools and tricks to protect against tricky attacks that might try to mess with the AI.
5. Data Protection: AI models often deal with personal info. AI TRiSM helps organizations follow rules about keeping info private and protecting people's privacy.

As more organizations use AI, AI TRiSM is getting really important. Gartner says that by 2026, companies using AI TRiSM will make better choices by getting rid of 80% of wrong or fake data.

7. Intelligent apps & AI for personalization

It's no surprise that the growth of AI is changing how we use technology, especially when it comes to personalization.

According to Gartner, by 2026, one-third of all new apps will use AI to make personalized and adaptable interfaces. This is a big jump from today, where only about 5% of apps do this.

Why is this becoming popular?

Well, by using smart AI programs to look at how people use apps and what they like, these clever apps can customize content, suggestions, and the overall experience for each person.

AI-driven personalization really makes a difference in how much people engage with an app and how likely they are to buy something. For instance, a study by McKinsey showed that companies really good at personalization make 40% more money from these efforts compared to others.

This is because when suggestions and content are more personal, they match what a person likes, making them more likely to click on things and buy stuff.

8. Quantum AI

The combination of quantum computing and AI, called quantum AI, is a fast-growing field that brings about many exciting possibilities. The global Quantum AI market is predicted to reach $1.8 billion by 2030, growing at a rate of 34.1%.

Quantum computers can give us the computing power needed to train and operate complicated AI models, while AI algorithms can efficiently use and enhance quantum resources.

This teamwork has the potential to change things in big areas like:

1. Financial modeling and risk assessment: Quantum AI can go through lots of financial info to find patterns and predict how markets might move, making risk management and investment plans better.
2. Drug discovery and development: Using quantum algorithms, scientists can make drug design better and simulate how molecules work together. This speeds up finding new and helpful treatments.
3. Artificial General Intelligence (AGI): Quantum AI might be a key part of reaching a point where machines can do any smart task a human can.

9. AI Legislation

As artificial intelligence gets smarter and becomes a bigger part of our lives, there's a need for rules to guide how it's made and used.

AI can be used for good and not-so-good things, so having laws is crucial. These laws make sure AI is used in a responsible and ethical way.

10. Ethical AI

Ethical AI is like a set of rules that looks at the right and wrong ways to use smart technology. It covers a bunch of things, such as:

1. Bias and fairness:Smart technology can sometimes show the biases of the people who made it. This can lead to unfair results for certain groups.For example, a study by Black researchers found that facial recognition software had a big bias. It made a lot of mistakes, especially for Black women.
2. Transparency and explainability:The way smart technology thinks can be really hard to understand, even for experts. This can make it tricky to trust what smart tech decides and to hold the people who made it responsible.
3. Privacy:Smart tech often uses a lot of personal information, which can make people worried about their privacy and how their data is used.
4. Safety and security:Sometimes, smart tech can be used in harmful ways, like making weapons or spreading false information.For instance, early versions of Chat GPT could be tricked into making content that wasn't allowed, like helping with harmful stuff.

People are starting to see how important it is to think about what's right and wrong in making and using smart technology. For example:

• In 2019, the European Union made a set of guidelines for making and using smart tech in a good way.
• In 2023, the US president gave an order about making smart tech that's safe, secure, and trustworthy.

11. AI Jobs

As artificial intelligence becomes more common in different industries, there are two noticeable job trends:

1. AI Upskilling:This is about learning new skills and knowledge related to AI to get better at your job or improve your career.
2. New AI Jobs Emerging:Some new jobs related to AI are expected to become important in 2024 and beyond:AI Product Manager:Makes sure AI-powered products are developed and launched well, meeting market needs and business goals.AI Engineer:Includes roles like AI Research Scientist, Business Intelligence Developer, Computer Vision Engineer, Machine Learning Engineer, NLP Engineer, and more.AI Ethicist:Makes sure AI systems are made and used in a way that's fair, ethical, and responsible, dealing with issues like bias, privacy, and transparency.AI Input and Output Manager:Handles the info that goes into AI systems and understands the results they produce.Sentiment Analyzer:Looks at things like customer feedback and social media comments to figure out what people think and feel.AI Regulatory Specialist:Keeps up with the rules around AI and makes sure companies follow them.AI Human-Computer Interaction (HCI) Designer:Designs how people interact with AI products to make sure it's easy and enjoyable for users.

12. AI-powered online search

AI is changing how we search online, making it more personal, connected to context, and predictive:

1. Personalization:AI uses smart programs to show search results based on what each person likes, giving more relevant and timely info.
2. Contextual Understanding:Even for tricky questions, AI understands the context and gives accurate results.
3. Conversational Search:With natural language processing, talking to search engines becomes more like talking to a person.
4. Visual Search:You can search using pictures or videos, thanks to AI.

AI's impact is big in SEO and making content. But, there's a challenge for companies using AI in search—they need to earn the trust of customers.

A survey in February 2023 found that people are curious about AI-powered search but worry about its accuracy and biases. About 39% of adults in the US said they don't trust AI tools to keep their data private.

People care a lot about safety, how easy it is to use, and if it works with the things they already use online. Some like the idea of AI helping with search, but others still like the old-fashioned way.

In the same survey, more than half of adults in the US were hesitant to switch to AI-powered search engines. Baby Boomers were more unsure, with 54% saying no. On the other hand, Millennials were more open, with 40% saying they'd give it a try.

13. AI in customer service

The future of AI in customer service looks promising, as per the insights from Intercom's 2023 report:

1. Increased Investment in AI:Many companies are excited about AI's potential in customer service and plan to invest more in it. About 69% of support leaders are gearing up to invest more in AI in the coming year.
2. Enhancing Jobs, Not Replacing Them:AI is seen as a tool to make human customer service jobs better, not replace them. A significant 78% of support leaders believe AI will positively transform customer support careers in the next five years.
3. Cost Savings and Efficiency:Integrating AI and automation into customer service can save money and boost efficiency. Around 66% of support leaders are enthusiastic about using AI and automation to make their teams more efficient.
4. Competitive Edge with AI:AI is seen as a way to stand out in customer service. Providing better service through AI is considered a competitive advantage, with 73% of support leaders expecting customers to want AI-assisted service in the next five years.
5. Knowledge Gap:There's a difference in perception between customer service leaders and representatives regarding customer readiness for AI chatbots. While leaders are confident, less than half of practitioners share the same belief.

In summary, AI is rapidly evolving and making a significant impact on various industries. As we move into 2024, we can anticipate even more innovation in the AI field. If you're considering leveraging AI for your business, exploring AI software development services could be a valuable step to transform your operations and stay competitive.

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