Global trends in AI & Generative AI

There is no overstating the influence of AI and Generative AI,  and its ample benefits to business across the spectrum. Be it efficiency, productivity, cost-effectiveness and customer service- all aspects of global businesses have been impacted (and mostly positively) by AI and more specifically Gen AI. Gen AI takes the virtues of traditional AI, several notches upward- in terms of text, images and videos. In fact, this alone is rejuvenating businesses, and industries in a manner that could have only been dreamt of earlier.

Given the strides in technology, and its impact on the evolution of AI and Gen AI, keeping up with all the news trends, uses and developments can be a challenge. Here let’s explore and understand the new trends and uses in AI and Gen AI.

Multi-model AI

Multi-Modal AI is basically machine -learning, by which we can process data from many sources simultaneously- like images, text and videos. This development has the power to expand prowess of AI and help transform Industries. For instance, it can be used in interactive education platforms furthering engagement by students, facilitating customer identity in financial transactions through voice and facial recognition. It can also be used for a superior retail experience by analysing online, voice and in-store touch-points.

Agentic AI

Since Gen AI is already optimizing and exploring the path of agentic AI automation, we can be sure it will only increase its use and our dependency on it, in the coming years. These innovations can glean the insights provided by AI and transform them into smart and useful workflow and actions. These add unimaginable speed and accuracy to business tasks.

In the manufacturing industry this will be especially useful, since it will speed up repetitive tasks at great speed. Inventory support, supply chain, processing orders, customer interactions- will all be on the befitting side of this revolution.

Conversational AI

As per Gartner’s prediction, by 2028 all customer service and support is likely to be using Gen AI, digital customer service and conversational User Interfaces (CUI). Conversational AI, in fact will be driving this transformation. With Natural Language Processing (NLP) improving every day, AI tools like virtual assistants will understand and follow verbal commands even better and thus be in apposition to handle even complex and a wider set of tasks and queries.

Meanwhile, developments in Natural Language Processing are further improving the abilities of Gen AI., making it more nuanced, resulting in almost human- like text generation.

AI-driven decision making

Organisations and businesses have learnt the benefits of GEN AI in data-driven decision-making. Gen AI can analyse large sets of data and insights that could be invaluable for strategic planning with greater operational efficiencies. This could be especially useful in sectors like power and energy, where optimizing resources and mobilisation could result in definite cost savings.

Integration of generative AI in creative & marketing processes

Incorporation of generative AI with Creative workflow will redefine content. From creating marketing materials, designing new-age products these tools are augmenting creative processes across industries. This amalgamation of machine intelligence with human creativity, is reconceiving and improving outcomes across all parameters.

Hyper-Personalization

There is a whole new level of personalisations, across sectors, coming from the judicious use of Gen AI. We know have the technology to identify and respond to highly granular patterns/ preferences, which means that we can now tailor make service, products and responses that are specific to the needs of the end user or customer. For instance, educational platforms can create personalised learning approaches for each user, bearing previous progress and activities in mind.

AI in gaming and entertainment  

Even Gaming and Entertainment sectors are benefitting from the AI break throughs.  It is adding a level of personalisation and sophistication to gaming and interactive media. Developers are tailoring storylines and experiences for individual users, resulting a more engaging and interactive experience. In addition, the scale of Gen AI content creation is also helping developers create on a bigger, and far more detailed scale  and faster than before.

Focus on ethical AI development

While AI technologies is now widespread across most spectrums of modern living, there is also a concern and emphasis on ethical AI development. Across board there is emphasis on prioritizing fairness, transparency and accountability in their AI endeavours. This is vital as it builds user trust and ensures the Gen AI mitigates risks coming from bias and misinformation.

Looking Ahead

To integrate Gen AI into business processes calls for breaking down silos between IT, AI, and business teams. It is extremely important to foster a culture of experimentation.  Here,  innovation is key to navigating the complexities of AI & Gen AI in a  successful manner. Only by staying ahead of these trends, organizations can look forward to unlocking new opportunities and driving meaningful growth.

By Sameer Dhanrajani, CEO of AIQRATE and 3AI