5 AI Predictions in 2024 That Will All Come True, Almost

In the year 2023, AI, machine learning (ML), and generative AI (GenAI) were the talk of the town. However, much of the attention was focused on superficial aspects rather than the substance of the technology. In 2024, five predictions about AI can be made:

  • Good old fashioned machine learning will continue to gain momentum
  • Executives will make an effort to understand AI
  • Generative AI technology, such as ChatGPT and Bard, will become ubiquitous
  • ROI will become a key consideration in AI implementation
  • Business schools will need to rethink their curriculum to accommodate AI

Simple applications of machine learning, which are narrower in scope and more easily solved, will continue to explode in popularity. This is partly due to increased executive interest in AI and the financial benefits it offers. Executives will seek to educate themselves on AI to understand its capabilities and potential for making and saving money. Generative AI will also play a significant role in multiple industries such as law, marketing, finance, and customer service, automating routine and repetitive tasks. ROI will become a key metric for evaluating the success of AI implementation. Finally, business schools will need to update their curriculum to reflect the impact of AI on various business disciplines and functions.