This appeared
a few days ago:
Thursday, 07 December 2023 04:13
Twelve AI predictions for 2024
By David
M Williams
In
time for the 12 days of Christmas, data, AI, and analytics software company SAS
has released its 12 predictions about AI for the coming year.
Generative AI will augment (not replace) a comprehensive AI
strategy
“Generative
AI technology does a lot of things, but it can’t do everything. In
2024, organizations will pivot from viewing generative AI as a stand-alone
technology to integrating it as a complement to industry-specific AI
strategies. In banking, simulated data for stress testing and scenario analysis
will help predict risks and prevent losses. In health care, that means the
generation of individualized treatment plans. In manufacturing, generative AI
can simulate production to identify improvements in quality, reliability,
maintenance, energy efficiency and yield.”
– Bryan
Harris, Chief Technology Officer, SAS
Note
that earlier this year, SAS
committed $1 billion to AI-powered industry solutions.
AI will create jobs
“In
2023, there was a lot of worry about the jobs that AI might eliminate. The
conversation in 2024 will focus instead on the jobs AI will create. An obvious
example is prompt engineering, which links a model's potential with its
real-world application. AI helps workers at all skill levels and roles to be
more effective and efficient. And while new AI technologies in 2024 and beyond
may cause some short-term disruptions in the job market, they will spark many
new jobs and new roles that will help drive economic growth.”
– Udo
Sglavo, Vice President of Advanced Analytics, SAS
AI will enhance responsible marketing
“As
marketers, we must consciously practice responsible marketing. Facets of this
are awareness of the fallibility of AI and alertness to possible bias creeping
in. While AI offers the promise of enhanced marketing and advertising programs,
we know that biased data and models beget biased results. In SAS Marketing, we
are implementing model cards that are like an ingredient list, but for AI.
Whether you create or apply AI, you are responsible for its impact. That's why
all marketers, regardless of technical know-how, can review the model cards,
validate that their algorithms are effective and fair, and adjust as needed.”
–
Jennifer Chase, Chief Marketing Officer, SAS
Financial firms will embrace AI amid a Dark Age of Fraud
“Even
as consumers signal increased
fraud vigilance, generative AI and deepfake technology are helping
fraudsters hone their multitrillion-dollar craft. Phishing messages are more
polished. Imitation websites look stunningly legitimate. A crook can clone a
voice with a few seconds of audio using simple online tools. We are entering
the Dark Age of Fraud, where banks and credit unions will scramble to make up
for lost time in AI adoption – incentivized, no doubt, by regulatory shifts
forcing financial firms to assume greater liability for soaring APP [authorized
push payment] scams and other frauds.”
–
Stu Bradley, Senior Vice President of Risk, Fraud and Compliance Solutions, SAS
Shadow AI will challenge CIOs
“CIOs
have struggled with ‘shadow IT’ in the past and will now confront ‘shadow AI’ –
solutions used by or developed within an organization without official sanction
or monitoring by IT. Well-intentioned employees will continue to use generative
AI tools to increase productivity. And CIOs will wrestle daily with how much to
embrace these generative AI tools and what guardrails should be put in place to
safeguard their organizations from associated risks.”
– Jay
Upchurch, Chief Information Officer, SAS
Multimodal AI and AI simulation will reach new frontiers
“The
integration of text, images and audio into a single model is the next frontier
of generative AI. Known as multimodal AI, it can process a diverse range of
inputs simultaneously, enabling more context-aware applications for effective
decision-making. An example of this will be the generation of 3D objects,
environments and spatial data. This will have applications in augmented reality
[AR], virtual reality [VR], and the simulation of complex physical systems such
as digital twins.”
–
Marinela Profi, AI/Generative AI Strategy Advisor, SAS
Digital-twin adoption will accelerate
“Technologies
like AI and IoT [Internet of Things] analytics drive important sectors of the
economy, including manufacturing, energy and government. Workers on the factory
floor and in the executive suite use these technologies to transform huge
volumes of data into better, faster decisions. In 2024, the adoption of AI and
IoT analytics will accelerate through the broader use of digital-twin
technologies, which analyse real-time sensor and operational data and create
duplicates of complex systems like factories, smart cities and energy grids.
With digital twins, organizations can optimize operations, improve product
quality, enhance safety, increase reliability and reduce emissions.”
–
Jason Mann, Vice President of IoT, SAS
Insurers will confront climate risk, aided by AI
“After
decades of anticipation, climate change has transformed from speculative menace
to genuine threat. Global insured losses from natural disasters
surpassed $130 billion in 2022, and insurers worldwide are feeling the
squeeze. US insurers, for example, are under scrutiny for raising premiums and
withdrawing from hard-hit states like California and Florida, leaving tens of
millions of consumers in the lurch. To survive this crisis, insurers will
increasingly adopt AI to tap the potential of their immense data stores to
shore up liquidity and be competitive. Beyond the gains they realize in dynamic
premium pricing and risk assessment, AI will help them automate and enhance
claims processing, fraud detection, customer service and more.”
– Troy
Haines, Senior Vice President of Risk Research and Quantitative Solutions, SAS
AI importance will grow in government
“The
workforce implications of AI will start being felt in government. Governments
have a hard time attracting and retaining AI talent since experts command such
high salaries, however, they will aggressively recruit for expertise to
support regulatory actions. And like enterprises, governments will also
increasingly turn to AI and analytics to boost productivity, automate menial
tasks and mitigate that talent shortage.”
– Reggie
Townsend, Vice President of the SAS Data Ethics Practice
Generative AI will bolster patient care
“To
advance health and improve patient and member experiences, organizations will
further develop generative AI-powered tools in 2024 for personalized medicine,
such as the creation of patient-specific avatars for use in clinical trials and
the generation of individualized treatment plans. Additionally, we will see the
emergence of generative AI-based systems for clinical decision support,
delivering real-time guidance to payers, providers and pharmaceutical
organizations.”
– Steve
Kearney, Global Medical Director, SAS
Deliberate AI deployment will make or break insurers
“In
2024, one of the top 100 global insurers will go out of business as a
consequence of deploying generative AI too quickly. Right now, insurers are
rolling out autonomous systems at breakneck speed with no tailoring to their
business models. They’re hoping that using AI to crunch through claims quickly
will offset the last few years of poor business results. But after 2023’s
layoffs, remaining staff will be spread too thin to enact the necessary
oversight to deploy AI ethically and at scale. The myth of AI as a cure-all
will trigger tens of thousands of faulty business decisions that will lead to a
corporate collapse, which may irreparably damage consumer and regulator trust.”
– Franklin
Manchester, Global Insurance Strategic Advisor, SAS
Public health will get an AI boost from academia
“Public
health is achieving technological modernisation at an unprecedented rate.
Whether overdoses or flu surveillance, using data to anticipate public health
interventions is essential. Forecasting and modelling are rapidly becoming the
cornerstone of public health work, but government needs help. Enter academia.
We will see an increase in academic researchers carrying out AI-driven
modelling and forecasting on behalf of the government. It is clear after
COVID-19 that the protection of our population will require exceptional
technology and collaboration.”
– Dr.
Meghan Schaeffer, National Public Health Advisor and Epidemiologist, SAS
Here is the
link:
https://itwire.com/business-it-news/data/twelve-ai-predictions-for-2024.html
I find this
an interesting list with such a diverse list of suggested futures at all sorts
of levels and possible impacts.
It is worth
reading through the list to see what you agree with and then to try and see
what might have been left out! (Impacts of AI on Law and Accounting professions
maybe and what about those who write for a living?)
I see much
broader impacts than cited here!
David.