This time last year, blog posts, conference panels, and podcasts predicted that 2024 would be the year of AI adoption and domination. Were the technology experts and thought leaders (ourselves included) right? Did AI take off and take over in the way that we predicted? Let’s look back.
The State of AI Adoption
Our 2024 State of Business-Driven Technology Report Survey uncovered that 72% of business technology leaders look to artificial intelligence and machine learning as the top technologies impacting their business in the next five years. With the potential of increased efficiency and revenue on the table, businesses are leaning into what AI has to offer by investing in and adopting emerging AI technology. Up from just a third in 2023, half of McKinsey & Company survey respondents use AI for two or more business functions, and 72% have adopted AI for at least one business function. A survey of more than 800 senior business leaders indicates that weekly usage of generative AI has nearly doubled from 37% in 2023 to 72% in 2024. As predicted, more and more businesses regularly incorporate AI technology into their operations.
A Year of AI Innovation
Almost every industry imaginable felt the impacts of AI in 2024, and innovators didn’t hesitate to see what AI was capable of. From weather forecasting to video production, Fast Company’s “The 11 Next Big Things in AI and Data Innovations for 2024” covers some of the year’s more interesting AI use cases. However, one thing remains clear—the hype around generative AI was mostly warranted. Gartner predicts that by 2026, more than 80% of businesses will have used generative AI, up from less than 5% in 2023. This year, we have seen countless generative AI tools, including Microsoft Copilot and Google Gemini, come onto the scene. Generative AI allows businesses to reduce operational costs, save time, and promote efficiency and productivity by helping to produce content, organize data, or write code.
While this technology is already improving efficiency and cost-cutting in many areas, experts and thought leaders may have undersold its shortcomings. First and foremost, generative AI platforms and tools can produce information and content that is downright inaccurate. For example, Google’s AI search overviews have drawn attention for glaring inaccuracies. This technology can also perpetuate biases, create privacy risks, and it can even be used to spread misinformation or disinformation.
What Next?
As 2024 comes to a close, our feeds will once again be flooded with content pondering the year ahead and making predictions about the impact of new technology. We don’t doubt that the AI hype will continue into 2025 and beyond, with businesses increasing investments and adoption. Perhaps this new set of predictions will take a more conservative approach, with an eye towards solving generative AI’s weaknesses.
If you’re not sure how your business can leverage and navigate all that AI has to offer, we can help. Contact us today to begin adopting the latest AI technology in a way that will drive your business and revenue forward.
