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Embark on the concluding chapter of our exploration into the transformative trends of 2024. In this second installment, we dissect the profound impacts of Industry Cloud Platforms, Intelligent Applications, Democratized Generative AI, Augmented Connected Workforce, and the paradigm shift with Machine Customers. Join us for a comprehensive journey through the ever-evolving realms of technology, shaping the future.
Industry Cloud Platforms (ICPs)
Industry Cloud Platforms (ICPs) are technological powerhouses seamlessly blending Software as a Service (SaaS), Platform as a Service (PaaS), and Infrastructure as a Service (IaaS) to fashion bespoke solutions for various industries. With a projected surge to 70% adoption by 2027, ICPs are transformative forces addressing long-standing market gaps and ushering in tailored, industry-specific solutions.
This section delves into the modular approach of ICPs, accelerating cloud adoption and envisioning a shift into ecosystem clouds. A recent Gartner survey reveals a substantial 39% adoption rate in North America and Europe, with approximately 17% contemplating deployment by 2026. Gartner predicts that by 2027, over 50% of enterprises will leverage ICPs to accelerate business initiatives.
Innovation beyond Boundaries
The modular and composable features of ICPs emerge as catalysts for agility, promising industry players a more adaptive way to manage workloads. Beyond serving conventional users, ICPs are evolving into collaborative spaces that transcend traditional industry frameworks, reshaping the business landscape of 2024.
Intelligent Applications
Dive into the realm of Intelligent Applications, where consumer and business apps intertwine with AI and extensive connected data. Gartner foresees a monumental shift, predicting that by 2026, 30% of new apps will boast AI-driven adaptive interfaces.
AI's Transformative Role
Generative AI emerges as the catalyst, infusing apps with unparalleled intelligence. These apps learn, adapt, and autonomously generate outcomes, streamlining insights for business users by integrating transactional and external data within apps. From predictive analytics to personalized recommendations, AI fosters adaptability, automation, and transformative decision-making in real-time.
Driving Forces and Tips for Leaders
The surging popularity of intelligent apps stems from innovation, reduced development costs, and increased business value. Technology providers integrate "intelligence" for competitive differentiation, driving market uptake. As the cost to create intelligent applications decreases, more players, including independent software vendors, enter the arena. High-tech leaders should construct strategic decision models and explore revenue potential within their customer base, reshaping the landscape of software applications.
Democratized Generative AI
Enter the era of Democratized Generative AI, where the creation of new content becomes accessible to all, disrupting the fabric of information accessibility and skill acquisition. Gartner predicts that by 2026, over 80% of enterprises will harness generative AI APIs and models.
Generative AI, with its user-friendly accessibility and widespread availability, levels the playing field across diverse roles and business functions, enhancing productivity, efficiency, and innovation. However, this democratization brings forth a dual landscape of benefits and risks, fueling workforce productivity while raising concerns about potential risks like the loss of confidential data and misuse.
Democratized Development
GenAI models, tools, and applications, now available as APIs in the public cloud, revolutionize the development landscape. This accessibility empowers developers to build applications without the complexities of creating and managing their models. The democratization of Generative AI is a transformative force reshaping enterprise landscapes beyond automation, redefining how businesses compete and operate.
Augmented Connected Workforce
Enter the realm of the Augmented Connected Workforce, a strategic powerhouse optimizing human potential through intelligent technology, workforce analytics, and skill augmentation. Gartner predicts a transformative shift, with 25% of CIOs leveraging these initiatives to slash time to competency by 50% for critical roles through 2027.
Getting Started
Initiating this transformative journey requires a strategic approach. Prioritize time to competency, forming a cross-functional program involving leaders from IT, HR, sales, customer service, and supply chain. Craft employee experiences augmented with intelligent technology, reshaping how work is accomplished.
Machine Customers
Machine customers, non-human economic actors, represent a paradigm shift in commerce. With more machines capable of acting as buyers than humans globally, the era has already commenced with over 9.7 billion IoT devices. Gartner predicts that 50% of people in advanced economies will have AI personal assistants by 2027, underscoring the ubiquity of machine customers.
Executives must unite to prepare for this transformative shift. Legal officers, CIOs, marketing officers, HR officers, supply chain officers, and revenue officers all play pivotal roles in framing risk-managed engagement strategies, constructing machine-friendly platforms, re-conceptualizing customer relationships, and assessing organizational impact.
Decisive Differences
Machine customers differ fundamentally from humans in decision-making, operating logically without emotion. As businesses navigate this transformative landscape, understanding and adapting to the unique dynamics of machine customers will be imperative for sustained success.
In Conclusion
As the curtain falls on our two-part series exploring tech trends of 2024, we witness the dynamic evolution from Industry Cloud Platforms to Machine Customers. Embracing intelligent applications, democratized AI, and augmented workforces, businesses navigate a landscape where innovation meets responsibility. The era of machine customers marks a transformative dawn, reshaping economic interactions. Stay tuned for the unfolding future at the intersection of technology and human enterprise.
Contact Oscar Cruz, our CTO, to bring your data to life: oscar@bowriversolutions.com.