New Generative AI Tools Coming In 2024

Uploaded on 2023-12-27 in TECHNOLOGY-Key Areas-Artificial Intelligence, FREE TO VIEW

Artificial Intelligence (AI) tools have proliferated in 2023 and will only increase in 2024 with Generative AI becoming the a dominate trend across IT industry as the major technology firms are moving fast to invest billions into the technology.

In particular, the release by Microsoft's affiliate, OpenAI, of ChatGPT, has caused a major growth spurt, with businesses moving fast to adopt Generative AI tools.

Right now, Generative AI is expected to become deeply integrated into workplace technology in 2024.

The boom in AI is boosting IT from cloud computing and semiconductor chips to the most popular collaboration tools. Indeed, Gartner predicts that over 80% of enterprises will have used Generative AI applications in the workplace, compared to less than 5 percent in early 2023. “By 2026, more than 80% of enterprises will have used Generative AI application programming interfaces (APIs) or models, and/or deployed Generative AI-enabled applications in production environments, up from less than 5% in 2023, according to Gartner, Inc,” according to Gartner.

“Generative and other types of AI offer new opportunities and drive several trends,” said Gartner's research chief Chris Howard in a recent report. The 2023 AI products in the market are helping businesses become more productive and efficient by speeding up a wide variety of tasks and use cases. “But deriving business value from the durable use of AI requires a disciplined approach to widespread adoption along with attention to the risks.” Howard cautions users.

Large language models (LLMs) like Microsoft 365 Copilot, Google Bard and OpenAI’s GPT-4 can be used to generate code, translate customer documentation, create marketing materials, answer questions and develop new product ideas.

Other AI tools like Amazon's Bedrock makes GenerativeAI models accessible through an API, while Google’s Vertex AI Platform provides purpose-built tools for data scientist and machine learning engineers to automate, standardise and manage AI projects.

The possibilities and use cases for Generative AI increase with every new version, with the largest US technology companies, including Google, Microsoft and Amazon, spending billions on building new tools. According to analysis by CRN , every business, channel partner, investor and user should know about Generative AI, which is increasingly considered to be a major transformative technology of the decade.

The beginning of 2024 will likely see the trend continue, but with a growing focus on delivering real business value to justify the billions in investment. From the biggest business to the smallest startup, all organisations need to form their strategies around the tools this transformative technology offers

Organisations that master these developments will be in a position to create long-term strategic advantages , creating powerful customer experiences and gaining market share in even the most difficult market conditions.

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Gartner: ZDNet: CRN: CRN: Fox Business: Medium:

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