5 Data and AI Trends You Can’t Ignore in 2024

As the year draws to a close, a question echoes from my clients, colleagues, friends, and family: ‘What are the next big trends in Data and AI?’

While I may not possess a crystal ball, my two decades of experience selling Data and Analytics solutions have granted me a glimpse into the future. Nonetheless, it’s crucial to remember that these are merely informed predictions, subject to the ever-changing landscape of technology. Here are five trends I think you should look forward to in 2024.

1. EASIER and STANDARDIZED access to AI

   2024 is going to be all about Democratized AI. This means that AI will become more accessible and affordable, enabling businesses and individuals of all sizes to harness its power for innovation and growth.

   More and more cloud-based AI platforms and open-source software will be available. Making it easier for all to deploy AI applications without the need for extensive expertise or infrastructure. This democratization will drive the development of smaller yet competent language models (LLMs), becoming the industry standard. The creation of AI models will transform, becoming standardized, outsourced, and specialized! Technology partners like Infocepts will focus on fine-tuning smaller models for specific verticals and use- cases tailored to the needs of individual companies or departments.

   AI for all — That’s the sentiment here!

2. Welcome ‘Hyper-productive’ HUMANS

   We will move towards ‘Augmented Workforce’, a paradigm shift that will further elevate AI from a mere tool to an indispensable partner. In this reimagined workspace, software developers will be empowered by AI-driven code suggestions, seamlessly woven into their workflow, akin to an omnipresent coding companion. Learn, Unlearn, Relearn – how we work will be redefined.

   Become an AI Ally. I personally don’t think you have a choice 🙂.

3. Meet the next generation of GenAI! 

   Prepare to witness multi-modal generative AI – systems that deftly harmonize diverse inputs like text, voice, melodies, and visual cues, forging a seamless fusion of creative expressions. AI will redefine the very landscape of the art world. As 2024 approaches, the stage is set for a transformative paradigm shift, where immersive art experiences will captivate the senses and redefine the boundaries of artistic engagement.

   Ready or not, here it comes.

4. Business Transformation with AI 

   Business transformation with AI will get a super boost in 2024, with data coming to decision-makers’ hands with ease and agility. The emphasis remains on establishing a centralized AI platform that bridges silos and fosters collaboration across the organization, prioritizing security and governance.

   AI’s automation capabilities will streamline operations, from mundane tasks to complex processes, freeing human resources for higher-value strategic initiatives!

5. Fun times for data enthusiasts

   AI will lead to the emergence of new job roles and opportunities to learn and grow. With advanced AI tools democratizing data access and insights, data scientists, engineers, and analysts will be empowered to focus on the truly fascinating and creative aspects of their work.

   Trust me, the best time to be in the Data Analytics industry is now!

   I would like to emphasize that as more artificial intelligence enters the world, we must not let go of our emotional intelligence. AI can never replace the unique human ability to connect emotionally with others, to understand the depth of human experiences, or to respond with genuine empathy.

   Keep your heart and ethics in check and prepare yourself for an exciting 2024!