Technology in 2024: How Generative AI would revolutionize the World?

Day by Day we witness changes in technology. Artificial intelligence or AI has been the talk of the town in the past few years. AI is a broad term for machines or systems designed to perform tasks that typically require human intelligence. Now as per technology in 2024, the focus has shifted to Generative AI which is developed as a subset that focuses on generating new content, such as images, text, etc.

Generative Artificial Intelligence (AI) emerges as a transformative force, poised to revolutionize numerous industries. It marks a more creative and autonomous facet within the broader field of artificial intelligence. In the year 2024, information technology is shaping up dynamically with GenAI playing a crucial role.

To analyze how Generative AI is going to emerge in the year 2024, DQ Channels have reached out to the experts and veterans of the industry. Salesforce, a global cloud-based software company shared their views about how AI will transform how businesses operate and impact the overall industry.

“A primary objective for AI is using the technology to achieve full autonomy within enterprises, where standard workflows can be entirely automated. In 2024, AI won't be an auxiliary tool but the core around which successful businesses revolve, marking an era of unparalleled transformation. Businesses need a digital strategy that builds resilience for today, increasing productivity and driving efficiency. And a vision for the future - to keep pace as all industries evolve to meet growing customer and employee expectations. 2024 will also see a strong focus on data privacy and compliance and organizations can only harness the full power of AI when it is fueled by accurate, comprehensive data. More robust data governance frameworks, establishing clear policies for data collection, storage, and usage, and continuous monitoring and auditing of training data. We will also see a new era of cyber defense take shape to address new threats. Furthermore, the term 'semantic query' will become commonplace, reflecting the seamless integration of AI in daily workflows.” - Arun Kumar Parameswaran, MD - Sales, Salesforce India.

“In 2024, AI will transform the office into a smarter workplace - and transform how we think about (and measure) human productivity.  Chatbots and virtual assistants will simplify the employee experience by automatically booking the right space for a team’s needs. From an innovation perspective, AI will be infused at every layer of product roadmaps and platforms to bring value to customers. This is as true for SaaS companies as it is for semiconductor and gaming companies. AI will also impact the very nature of development and how these products are built. Through the augmentation of mundane coding tasks, developers can boost their productivity and ability to focus their skills on the gnarliest problems. But open, ethical, and transparent use of generative AI may be what sets companies apart in customers’ minds.” - Sanket Atal, Managing Director – Operations and Site Lead – Technology, Product, at Salesforce India.

Oracle a multinational technology company known for its diverse range of database management systems, cloud solutions, and enterprise software also shared with DQ Channels their views about the same.

Deepa Param Singhal, Vice President, Applications, Oracle India stated -

"In 2024, generative AI will bring about a significant shift in how we approach work, impacting various industries and job functions. This technology, once confined to labs and niche applications, will become more widespread, enhancing human capabilities and reshaping the nature of work. For instance, supply chain experts can benefit from AI assistants helping in designing optimized routes, predicting demand based on real-time data, and generating custom packaging solutions while minimizing environmental impact. Another example could be in finance, where AI generates accurate forecasts, crafting personalized investment reports, and even composing market-ready proposals, freeing analysts for strategic decisions. In Human Resources, AI can create hyper-personalized training modules, crafting targeted recruitment plans, and even generating talent profiles for perfect matches. It is set to make human resource management truly human-centric. Additionally, organizations can resolve customer service issues quicker and more efficiently by increasing service agent and field technician productivity, optimizing self-service, and automating traditional tasks that are manual and time-consuming."

"The coming year will see a workforce where co-creation, rather than mere execution, becomes the core driver of success. This is an era of the augmented worker, powered by generative AI," she added.

Conclusion -

In the rapidly evolving terrain of technology, the advancement from conventional Artificial Intelligence or AI to the importance of Generative AI marks a significant paradigm shift. As we step into 2024, the vitality of Information Technology is notably shaped by Generative AI (GenAI), showcasing its prospect to revolutionize industries. Expert insights from Salesforce and Oracle highlight the transformative role of AI, particularly Generative AI, in reshaping business operations and productivity. The vision for 2024 contains a seamless integration of AI into workflows, concentrating on autonomy, innovation, and ethical use. It envisions a future where technology extends human capabilities, making work more efficient, personalized, and human-centric.