59 WorkTech Predictions from Industry Experts for 2024
Blog: Solutions Review - Business Process Management
As part of this year’s Insight Jam Live event, the Solutions Review editors have compiled a list of predictions for 2024 from some of the most experienced professionals across the Enterprise Resource Planning (ERP), Business Process Management (BPM), and Marketing Technology marketplaces.
As part of Solutions Review’s annual WorkTech Insight Jam, we called for the industry’s best and brightest to share their ERP, BPM, CRM, and Marketing Automation predictions for 2024 and beyond. The experts featured represent some of the top WorkTech solution providers with experience in these marketplaces, and each projection has been vetted for relevance and ability to add business value.
WorkTech Predictions for 2024 and Beyond
Jennifer Griffin Smith, Chief Market Officer at Acquia
“It’s becoming clear that the B2B marketing landscape will undergo a transformative shift around accessibility, video, and artificial intelligence (AI) in 2024. While these three trends will be fundamental to success, they will be the most powerful if working together. With the takeoff of generative AI, marketers have grappled with how to leverage it cohesively versus in silos, so we can expect to see a concentrated effort to integrate AI technology across entire organizations with strategic oversight. Within marketing, in particular, I also anticipate a significant surge in AI adoption for improving the understanding of customer interactions and predicting future engagements.
“With brand trust wary due to past data breaches, marketers will also look for new ways to engage and build that trusted connection back. One way will be through live videos, providing alternative formats for content consumption, such as bite-sized clips, to internalize information more quickly. Further, as businesses recognize the diverse needs of their audience, digital and communication accessibility will be paramount in 2024. When it comes to video, for example, we can expect an uptick in subtitles and voice-overs to better reach the 75 percent of Americans with disabilities who use the internet daily. Inclusive approaches to all marketing will help ensure that efforts—like video—reach and resonate with all audiences.”
Yeshwant Mummaneni, the Chief Engineer of Cloud at Altair
MLOps Moves to the Edge.
“MLOps (Machine Learning Operations) will significantly evolve to not only provide operational capabilities such as deployment, scaling, and monitoring, but will include model optimization. This will encompass everything from hyperparameter tuning to tweak model performance to model size/quantization and performance optimization for specific chipsets and use cases such as for edge computing on wearable devices or cloud computing.”
Jason Haworth, Chief Product Officer at Apica
Global catastrophes will continue to have an impact.
“We will see more financial crises, and logistics and supply chains will continue to take hits. There will be less money to spend, and it will be important to consolidate the tools and resources we use. This is especially critical as data volumes will continue to soar. When you have overwhelming amounts of data and don’t know how to process it, costs rise, and time is lost.”
AI will continue to boom, and we will see adaptations in almost every area of our lives.
“While AI will undoubtedly make our lives easier in many ways, we will see an uptick in error rates because this technology is only as smart as the language it’s been trained on. AI will inevitably replace more people and jobs, but the good news is that it will also create more jobs. In a few years, we will see many autonomous vehicles, essentially cell phones on wheels. The possibilities are virtually endless with AI, and we are only now starting to explore them.”
Paul Lechner, VP of Product Management at Appfire
“We will see the convergence of DevOps and Agile practices, aiming to break down silos and improve collaboration for faster, higher-quality software development. Tools facilitating continuous integration and delivery will be crucial in this integrated approach, streamlining the path from development to deployment, with the goal of delivering tangible value at every step of the way. Additionally, businesses will shift their focus from solely leveraging cloud migration for cost and time efficiencies to embracing its strategic advantages, especially within the growing AI sector. Many companies will lack the in-house resources to develop such technologies, so they will turn to AI-as-a-service on cloud platforms to leverage this powerful technology.”
Alan Masarek, Chief Executive Officer at Avaya
“With companies firmly in the ‘Experience Economy,’ where goods and services have been commoditized, and the customer experiences companies create will matter most, the focus in 2024 will be on innovating the customer experience to drive differentiation and growth. Brands are increasingly recognizing that their contact centers are at the ‘tip of the spear’ for driving differentiating experiences for their customers, and AI-powered innovations will be front and center to supercharge CX solutions.
“If 2023 was about the ‘potential of AI,’ the dynamic will shift in 2024 to demonstrating how AI investments must translate directly and tangibly to driving tangible business value by contributing to top and bottom-line improvements and competitive advantage. And, because CEOs and Boards of Directors are increasingly focused on managing risk, privacy, security, and business ethics concerns associated with AI technology, 2024 will increasingly be a year where these issues come to the forefront.”
Josh Mueller, CMO at Avaya
The CMO Will Have an Increased Role in Customer Experience
“In 2024, businesses will see the role of the CMO become more heavily entwined in the efforts to build stronger customer experience and interactions. In the contact center, specifically, expect to see CMOs closer to the content delivered in the contact center through campaign messaging, contact center agent training, or hands-on roles in applying AI to call routing. In the coming year, CMOs will play an increasingly crucial role in the experiential side of customer interactions.”
Omar Javaid, SVP and Chief Product Officer at Avaya
Improving CX in the contact center with AI and ML.
“Over the next year, there will be two areas of focus for AI-powered innovation in the contact center. The first will be using AI to delegate menial tasks away from contact center agents, boosting overall productivity while allowing agents to focus on creating higher-quality customer experiences and driving greater agent job satisfaction and retention. The second will be on how AI and/or ML investments can help customers navigate to their desired resolution much quicker than any previous solutions have allowed, driving customer engagement, satisfaction, and, potentially, share of wallet revenue gains.”
Raj De Datta, CEO and Co-Founder at Bloomreach
Ownership: The Key to AI Success in 2024 and Beyond
“2023 saw businesses jumping at generative AI, impressed by flashy demos and promises of instant productivity gains. But many initiatives flopped as companies realized they couldn’t just plug in AI and watch the magic happen.
“In 2024, successful AI initiatives will hinge on ownership. Business leaders will make a real impact once they take the reins to champion AI, pinpoint problems it can solve, and build dedicated staff to experiment, iterate, and operationalize. Leaders who get their hands dirty and steer their people through uncertain waters will successfully harness AI’s immense potential in 2024.”
Ed Macosky, Chief Product and Technology Officer at Boomi
The democratization of technology will be driven by AI automation.
“Democratizing technology is becoming a top priority for many, thanks to the high demand and limited supply of IT talent. Being able to reskill non-technical staff quickly and effectively will be integral to overall resiliency within an organization. With too much overhead on both infrastructure maintenance and technical training, businesses can quickly find themselves unable to adapt quickly enough in tough macroeconomic climates. AI automation will enable the drastic reduction of resources needed for maintenance, as well as reduce the amount of expertise required to have a strong understanding of their tech stack.”
Astha Malik, Chief Business Officer of Braze
“The winds of change are subtly shifting for marketers as we move into 2024. While 2023 was predominantly about efficiency, marketers’ focus for the upcoming year will be moving toward building trust and enduring engagement with consumers with radical efficiency. It will be crucial for marketers to align with partners who can support their long-term growth goals, helping them on their journey from campaign management to comprehensive customer journey orchestration. This involves leveraging first-party data to build trustworthy, mutually beneficial direct relationships and the power of AI to scale customer journey orchestration and foster creativity, efficiency, and experimentation.
“However, marketers should view AI not as a standalone solution but as a sage and trusted advisor that enhances their marketing prowess and learns alongside them. This perspective acknowledges AI’s limitations and underscores the necessity for marketers to broaden their traditional skill set, particularly in data analysis, to fully leverage the opportunities AI presents.”
Myles Kleeger, President & Chief Commercial Officer of Braze
“In the marketing world, we’ve heard about a cookieless future for years. The reality is that it’s time for marketers to overhaul their customer data strategy or risk damaging trust with their consumers and hindering long-term customer value permanently. With the anticipated end of cookies and the rise of privacy-protecting laws, marketers need to balance capturing contextual data about consumers with gaining their trust. In fact, only 53 percent of consumers in the US and UK say they’re somewhat confident (or more) that brands will use their personal data responsibly.
“To ensure they deliver value over time, marketers must provide consistent, transparent messaging that fosters trust about what information they’re gathering (with consumer consent) and how that shared data will deliver a valuable experience. Compared to three years ago, most consumers (70 percent) in the US and UK are either more or as willing now to share personal data with brands. If consumers are willing to share personal data, brands should, in exchange, build them highly personalized experiences that provide value. In 2024, I predict more marketers will rethink their customer data strategy to prioritize collecting the most impactful data needed to create savvy campaigns that strengthen trust and provide value to increasingly privacy-centric consumers.”
Spencer Burke, SVP of Growth at Braze
“Real-time feedback from consumers will be of paramount importance in 2024. Often, being late with a message is sometimes worse than not sending a message at all. So brands that can effectively listen, understand, and act upon their consumers’ feedback are better positioned to build strong long-term loyalty by meeting their consumers at the most relevant and critical times in the customer journey. Creating contextually rich experiences is also important for retention, as recent Braze research shows that 80 percent of consumers react positively to personalized experiences, saying that they are at least somewhat important when making purchases. Further, with the rise of AI, customer experience experts will see more opportunities in 2024 for brands to ingest data and understand it more effectively—enhancing the ability to understand feedback from disparate sources and turn it into personalized action in real-time.”
Dave Hoekstra, Product Evangelist at Calabrio
AI will transform the contact center workforce in the next decade.
“AI’s impact on the contact center workforce will be transformative over the next 10 years. Contrary to concerns about job displacement, a resounding 70 percent of contact center managers believe that the number of agents will increase. This forecast indicates that AI will serve to augment human abilities, creating a heightened demand for well-trained agents proficient in working alongside AI technologies and efficiently engaging with customers.”
Mahesh Rajasekharan, CEO of Cleo
“The US will most likely experience a recession in 2024. Despite its short anticipated length, it will still have detrimental impacts on businesses. Ongoing supply chain disruptions and geopolitical tensions will trickle down to cause diminished consumer spending, fueling the economic slowdown. Despite the recession, now is the time for businesses to be aggressive in their investments in new technologies of automation and AI to quickly rebound and prepare for a period of expansion in 2025.”
John Thielens, CTO at Cleo
“The United States will experience a long-term labor shortage, which means that businesses will need to focus on productivity, signaling a potential increase in automation and digital transformation to improve efficiency and operations. At the same time, reports show that generative AI will not be as prolific in manufacturing as once thought. Though many have feared the potential of AI to push human labor out of the workforce, this shows that any increase in AI will be due to the shrinking labor market, filling a labor gap that would have had no human counterpart to complete.”
Kyle Campos, Chief Product & Technology Officer (CPTO) at CloudBolt Software
AI/ML will disrupt the linear relationship in the FinOps solution ecosystem.
“Currently, there is a direct correlation between user complexity/friction and capabilities/cost granularity in the FinOps solution ecosystem: increases in the latter make the former that much more complex. However, advances in AI/ML will continue to disrupt the status quo, lowering the barrier and time to value for users. What used to take hours of custom configuration and trial and error will be a low-friction conversation. Additionally, AI/ML will facilitate Unit Cost solution inversion such that unit cost is provided to the user, not from the user.”
FinOps joins Security and Observability as the “golden paths” trifecta of Platform Engineering.
“FinOps silos that drive friction and unrealized optimization promises will find a breakthrough as the conversation and solutions shift from ‘motivation’ to ‘facilitation.’ With Platform Engineering fully adopted as a technology approach by the majority of forward-thinking IT organizations by the end of next year, FinOps practices will become a native part of its ‘golden paths,’ on par with security and observability, as the trifecta of defaults in the delivery process.”
John Engates, Field CTO Cloudflare
Executives, beware of the AI knowledge gap. Your productivity and profit depends on it.
“The AI divide is deepening, the result of C-suites that chose to invest–or ignore–AI investments. The result? A new class of ‘have-nots’ that operate at status quo while the AI-savvy gain surges in productivity thanks to teams that are equipped with efficiency-creating AI tools. Across industries, this divide will solidify the leaders and brands that can navigate the torrents of the economic landscape and come out on top, today and through the coming years.”
Patrick Martin, Chief Customer Officer and GM of Service at Coveo
In 2024, GenAI hype will crystallize into reality.
“In 2023, the world got hit by the ChatGPT storm, and the hype was huge around its capabilities and what it meant to the support world. We saw opportunities for operational efficiencies, automation of redundant tasks, and improvements in the overall experience. As we head into 2024, companies will continue exploring how this technology will be implemented in support organizations across multiple use cases. We will see more and more live use cases, largely for agent assistance, as concerns of removing the human-in-the-loop to validate generated content linger.”
Self-service will solidify as the norm and propel support teams to shift to more collaborative models in 2024.
“With GenAI’s impact on self-service, support organizations will need to review what is now coming into their support teams. Chances are, simple known issues will significantly decrease, meaning that Level 1 agents will receive more complex cases with no existing documentation. It should be expected that escalation rates to upper tiers will increase, thus forcing support organizations to rethink their support models to be more collaborative.”
Cross-functional collaboration efforts will be key to reigning in the right data for the right AI-driven business outcomes.
“The outcomes driven by GenAI can only be as good as the information/data used to feed the AI models. This means that companies must start expanding their operational strategies to leverage all valuable information and data points in their AI projects. This will require tight cross-functional collaboration between internal teams so that the right data is being collected by the right team at the right time.”
Brian Peterson, Co-Founder and Chief Technology Officer at Dialpad
“In 2024, we will see the initial hype around large foundational AI LLMs fade as companies realize that one size does not fit all. While the introduction of AI tools like ChatGPT was impressive, the enterprise will not benefit from solutions that pull from the entire internet. Instead, businesses are going to move away from leveraging large LLMs, leaning toward more specialized solutions and LLMs that are trained on a more bespoke and curated dataset. Not only will these produce more tailored results, but they are also more secure and cost-efficient. Businesses will embrace AI that is tailored to them and their customers to improve accuracy, avoid hallucination, and, ultimately, increase productivity and revenue.”
Manny Rivelo, CEO of Forcepoint
“In 2024, AI-related innovations will create new possibilities we’re not even considering at the moment. Moving forward, organizations of all sizes will need to create and expand corporate AI policies that govern how employees can interact safely with AI. AI security policies will need to extend beyond commercial AI tools to also cover internally developed GPTs and LLMs. At Forcepoint, we have web and data security solutions all designed to future-proof adoption of emerging technologies such as GenAI, no matter how quickly the technology landscape evolves.”
Nick Savvides, Director of Strategic Accounts, Asia Pacific, Forcepoint
“Ethical frameworks and regulation are necessary for AI and not just a distraction for organizations as they pursue their bottom line. We cannot avoid AI, as it’s the only way to scale our operations in the asymmetrical cyber battlefield. Ethical frameworks and regulatory governance will become critical to help AI function efficiently and equitably. Every new piece of software or service will have an AI or ML element to it. Establishing best practices for ethics in AI is a challenge because of how quickly the technology is developing, but several public and private-sector organizations have taken it upon themselves to deploy frameworks and information hubs for ethical questions. All of this activity is likely to spark increasing amounts of regulation in the major economies and trading blocks, which could lead to an increasingly piecemeal regulatory landscape, at least for now. It’s safe to predict that the current ‘Wild West’ era of AI and ML will fade quickly, leaving organizations with a sizable compliance burden when they want to take advantage of the technology.”
Marco Santos, CEO Americas of GFT
AI will manage itself inside and outside of the enterprise.
“Enterprises didn’t just start testing out AI tools; they began exploring AI’s applications on a foundational level. Now that they know AI’s potential for increasing internal efficiencies and speed and have tested and piloted use cases for customers, the next step will be scaling what they’ve built.
“To make this happen, we’ll see major enterprises introduce AI-powered agents to oversee and manage other technology and data-driven systems organization-wide. Internally, enterprise leadership and teams will no longer have to move from system to system to access the information and tools they need. They’ll instead interface with these dedicated AI agents that will work with all of the other systems on their behalf, significantly streamlining workflows and productivity.”
Kevin Miller, the CTO of North America at IFS
The Enterprise Will Latch Onto AR
“2024 is sure to bring what we refer to as ‘ubiquitous AR’, with increased adoption of augmented reality (AR) via mobile devices, especially glasses. There will be projects to integrate AR into existing workflows, empowering manufacturing and field service professionals with real-time information, improved collaboration, and enhanced visualization while retaining the situational awareness necessary for the safety and well-being of workers in factories and in the field. A recent report on global AR in healthcare showed the market is projected to balloon to more than 4.2 billion U.S. dollars by 2026, demonstrating the wide appeal of AR in business. Other industries, like manufacturing and field services sectors, are ripe for AR adoption.
“Manufacturing functions like design and prototyping, quality control, and maintenance can all benefit massively from AR use. Workers can, for instance, automatically measure the length of an item or ascertain if the right tool is used with their safety glasses. In the field services sector—think field engineers, mechanics, and maintenance workers—AR is already helping with remote assistance, training and onboarding, equipment maintenance, and documentation and reporting. At IFS, we have embedded AR into our software to empower customers to take advantage of the new capabilities it unlocks for them.”
Rick Rider, the SVP of Product Management at Infor
“As we peer into 2024, a tapestry of uncertainties at the intersection of business and technology looms large. With its transformative yet controversial potential, the generative AI hype continues to shape industries. Economic uncertainty remains a constant companion, injecting dreaded unpredictability into the business world. The widening skill gap and labor challenges are pressing concerns demanding more aggressive innovative solutions. These macro trends are trickling downstream, impacting organizations of all sizes across industries. Our predictions for 2024 shed light on how these complex forces manifest in enterprise software.”
Jason Beres, Sr. VP of Developer Tools at Infragistics
AI Technology Will Not Replace Developers
“AI is moving to the forefront of software development, with IT leaders using AI to speed time to market and alleviate the developer shortage. While generative AI–based tools can speed up many common developer tasks, complex tasks remain in the domain of developers for now. AI technology will be used to augment developers rather than replace them as some tasks continue to demand skilled developer expertise.”
Low-Code/No-Code Tools Will Dominate Software Development in 2024
“In 2024, low-code/no-code tools will dominate software development as they bring the power of app development to users across the business. The rise of ‘citizen developers’ has proven that as we move toward a no-code future, people without coding experience are changing the working world. As tech companies adopt low-code/no-code, they’ll save time and money, rather than falling behind early adopters.”
Casey Ciniello, Reveal and Slingshot Senior Product Manager at Infragistics
More Businesses Will Rely on Predictive Analytics to Make Decisions in 2024
“Making decisions based on gut instinct is a thing of the past as organizations are fully realizing the power of analytics to make data-driven decisions, evidenced by the number of software platforms incorporating embedded analytics. Analytics will be all-encompassing in 2024 as we become reliant on data for everything from everyday business research, such as inventory and purchasing, to predictive analytics that allows businesses to see into the future. Predictive analytics will drive businesses forward by helping them make informed, data-driven decisions, improve productivity, and increase sales/revenue—rather than merely reacting to events that have already occurred.”
Mark Neufurth, Lead Strategist at IONOS
“The domain industry is experiencing a spike in creativity. Recent news of Google launching .ing is just a mere look into the future for the domain industry where imagination hasn’t yet emerged to its full potential. Cutting words in half or adding ‘.dad’ is a light-hearted and funny version, and some are poisoning confusion and security threats with .zip and .mov names that can be hidden as downloadable files. Still, the industry’s main focus remains on easy access and easy-to-remember domain names that enhance the online presence. It’s a reflection of the digital realm’s constant reinvention.”
Anticipated stories in the IT and enterprise tech industries in 2024.
“The year 2024 is expected to be heavily influenced by artificial intelligence, serving as the foundation for new services across various sectors. AI technologies are set to become more widespread, with a trend toward consolidation and the establishment of standards. Furthermore, AI models are projected to become more efficient on diverse hardware, reducing the dependency on GPU-based infrastructure and accelerating technological advancements across industries, thus bypassing potential platform-based monopolies.”
Neeha Curtis, the Chief Communications Officer of Jugo
“We will see a lot of brands and people in general rethinking our approach to social media and digital spaces. We’ll see a growing need for building digital communities, fostering discussions, and encouraging diverse perspectives. It’s about using these powerful tools to unite rather than divide.
In 2024, the imperative for communicators, marketers, and storytellers will be to go beyond simply informing or entertaining; it will be to connect. In a world that’s become increasingly divided, our biggest challenge—and perhaps our most significant opportunity—is to use our skills and tools to bring people closer together and boost understanding and empathy. It’s a tall order, but it’s more important now than ever.”
Ned Rhinelander, the Chief Technology Officer at meQuilibrium
We must treat AI like a coworker.
“In 2024, we can expect unprecedented integration of artificial intelligence in the workforce. For most workers, AI will become a side-by-side co-worker. While this may feel threatening, it presents opportunities. The core skills for success—growth mindset, positivity, self-awareness, and sound judgment—will be as critical as ever when interacting with AI. We must direct AI with a clear sense of purpose, delegating specific tasks rather than strategy. The soft skills we use with human coworkers will prove even more vital when leveraging this new technology.”
Paul Barrett, CTO at NETSCOUT
A Push for Greater AI Explainability
“The business community has witnessed significant advances in artificial intelligence over the last two years. Yet a defining characteristic of sophisticated AI systems, including neural networks, is that they do not always behave as expected. Indeed, the path an AI system chooses to arrive at a destination may vary significantly from how a human expert would respond to the same challenge. Studying these choices and building AI explainability tools will become increasingly important as AI systems become more sophisticated. Organizations must be able to analyze AI systems’ decision-making to put adequate safeguards in place. Additionally, the outputs that AI systems provide to explain their thinking will be critical for making further improvements over time.”
Mike Loukides, Vice President of Emerging Tech Content at O’Reilly Media
GenAI Will Change the Nature of Work for Programmers
“GenAI will change the nature of work for programmers and how future programmers learn. Writing source code will become easier and faster, but programming is less about grinding out lines of code than it is about solving problems. GenAI will allow programmers to spend more time understanding the problems they need to solve, managing complexity, and testing the results, resulting in better software that’s more reliable and easier to use.”
A New Generation of AI-Assisted Programming Tools
“Copilot is just the start. We’ll see a new generation of AI-assisted programming tools. We are already seeing tools for managing prompts; we will soon have libraries of prompts designed to direct GenAI to accomplish specific tasks. And, while Copilot is primarily useful for low-level coding, we will soon see generative AI tools for high-level tasks like software architecture and design.”
Padmanabhan Raman, CEO and Co-Founder of Osa Commerce
Optimizing Use of AI Will Determine Future Supply Chain Winners
“AI and predictive analytics will separate the winners and losers over the next decade across manufacturing and retail. Leaders who harness big data to optimize inventory, forecast demand, control costs, and personalized recommendations will dominate their less analytical peers. Companies that fail to adopt will see spiraling costs and plummeting efficiency.”
Yifat Baror, Co-Founder and Chief Growth Officer of Osa Commerce
Automation is Necessary to Supplement Labor Shortages
“Automation, especially in warehouses and transportation, will become mission-critical over the next few years as labor shortages persist. Companies that invest in the latest technologies that can easily integrate with robotics or self-driving vehicles, automated inventory systems, or AI and predictive solutions will be best positioned to address workforce gaps, control rising labor costs, and attract younger tech-savvy talent.”
Agur Jõgi, CTO at Pipedrive
Further development of AI-based solutions.
“Due to high performance, enhanced reliability, business agility, and cost efficiency, companies and organizations of all sizes will continue to migrate from private clouds to public clouds, eliminating the need to invest in hardware and software to maintain the infrastructure and enabling allocation of resources to business development.
“Based on data and patterns, in 2024, we will start seeing useable AI products in high-level automated B2B and B2C decision-making or business management processes as a rAI’st of AI’s prominent capability of detecting patterns, trends, strengths, and weaknesses of any technological system or analyzing behavioral patterns of team performance or consumer data. AI will also increase the quality assurance of SaaS products and services by increasing the speed and efficiency of data-driven quality management and minimizing mistakes or defects in the development and production processes.”
Razat Gaurav, CEO at Planview
Sync or Sink: How Companies are Using Data to Drive Success
“The ability to connect past results and current realities with a probability of success for future objectives through effective data utilization will emerge as a defining factor in 2024. This will separate the successful innovators from those struggling to keep pace with evolving market demands. Often, data resides not in one or two or three systems but in hundreds, sometimes thousands, of different systems.
“Looking forward, we can anticipate a growing divide between organizations that harness the power of data for strategic alignment and predictive capabilities and those that neglect this critical aspect. Those adept at synchronizing data to align with their goals and OKRs will continue to thrive, leveraging their insights for rapid adaptation and maintaining a competitive advantage. In contrast, organizations failing to prioritize data-driven decision-making risk lagging behind, facing challenges in navigating the dynamic business landscape.”
Cameron Van Orman, Chief Strategy Officer at Planview
Adopting AI for Pragmatic Progress
“In 2024, generative AI will transition to the ‘slope of enlightenment’ phase of the technology hype cycle from its current position somewhere between the ‘peak of inflated expectations’ and ‘trough of disillusionment’ phases. The initial excitement around AI enablers will give way to more pragmatic expectations, focused on targeted applications that offer tangible value as enterprises move beyond experimentation to focus on practical implementations. Overall, this marks a pivotal moment, signaling a more mature and purpose-driven era for generative AI. With this, attention will shift from ‘enablers’ to applications, highlighting how enterprises are directing investments toward initiatives that drive efficiency and meaningful change.”
Eric Schrader, Chief Product Officer at Propel Software
The era of continuous business transformation kicks off.
“The old adage of ‘the only constant is change’ has finally arrived in the manufacturing industry. Gone are the days of static business processes and tech stacks that are updated every few years or even decades. Instead, manufacturers are embracing continuous transformation where they identify a need or pain point, deliver a solution using an agile approach, and quickly move on to address the next problem. This nimble and responsive approach will help manufacturers to quickly capitalize on revenue opportunities and adjust to market changes, making them more resilient, efficient, and profitable.
“With technology evolving at a remarkable pace, it opens up new opportunities to change the way companies do business. As a result, business transformation has become increasingly tied to digital transformation. Next year, we will see many manufacturers focusing on the customer outcome and how their products deliver that desired outcome. And they will be looking closely at teams, processes, and technology to support those outcomes.”
In 2024, we’ll see more manufacturers transform their businesses by focusing on revenue growth, capturing market share, and building brand loyalty.
“Successful technology solutions will be those that can quickly pivot to support business needs as they evolve. Many manufacturers will lean in on a new technology category, product value management (PVM). PVM will help drive business transformation for many with a single continuous product thread that enables companies to grow profits by collaborating across the enterprise on a continuous data product thread, sharing insights that chasm between the front office and back office.
“Adapting to change while keeping customer experiences top of mind is the only way to continue growing revenue and increasing profits. Starting with those goals in mind will ultimately make the path to business transformation success much easier.”
Dave Rowe, the Chief Product Officer & EVP of Global Transformation at Rimini Street
Demand to maximize the ROI of existing investment will outshine new technology implementations
“All organizations, at some level, are entertaining the idea of cloud adoption for their current operations. In 2024, we will see a bigger conversation about known technologies. Although it is not a new implementation, we expect organizations to weigh the pros and cons of a cloud-native approach and whether they should migrate all their data and workloads to the cloud.
“There is a dark side to the cloud conversation, one that relates to the unexpected costs, the motives to move everything to the cloud, and its management. As we approach and move into 2024, leaders will opt for a pragmatic strategy versus using the cloud for all their operations. Within their environments, they will strategically choose where the cloud makes more sense, specifically looking at the use of applications and data, cross-department functions, the costs of moving and maintenance, and, of course, the ROI of their previous investments.
“With current massive bills accumulating for enterprises, questions will shift from ‘Are you all in the cloud yet?’ to ‘Do you know when and how you need the cloud?’ And as software vendors continue to push their own cloud products there seems to be an increasing trend of data ‘repatriation’—moving it to the data center or more managed facilities where organizations can have more control. Ultimately, this will be a matter of finding the balance that works for the organization’s goals and not what software vendors try to dictate.”
John Bates, the CEO of SER Group
The end of enterprise email.
“Enterprise email has been on a sharp downward trajectory for some time now, usurped by more spontaneous and collaborative chat and content exchange platforms like Microsoft Teams. As content becomes more ‘conscious’ and able to relay information about itself, the need for busy and jaded human professionals to have to visually scan, respond/address, or discard individual email messages will cease. Emailed requests and attached invoices, contracts, or applications will simply announce and identify their existence and file themselves or trigger automated processing, according to their type and priority level.”
Surface-level RPA will be left in the dust.
“Robotic process automation (RPA) tools are great at doing routine things very well. But, superseded by real, adaptive machine intelligence, RPA as a technology has largely outlived its usefulness. Scraping information from the screen of one app and pasting it onto the screen of another means that the technology doesn’t ‘understand’ what it is doing, preventing it from making an intelligent decision about what to do next. To perform a next-level content task requires intelligent insight into the information’s properties and relative importance. In 2024, intelligent content automation will increasingly replace RPA, enabling smarter processing/more advanced automation.
“After all, why keep doing mundane things over and over again when there are ways to run and manage them in more efficient and dynamic ways, aided by AI? Increasingly now we’ll see process automation incorporate deeper learning from content and data. Intelligence which will feed continuously into a growing and ever richer corporate knowledge base.”
The world won’t end because of AI. Not in 2024, at least.
“World politicians are missing the point about AI, deep learning, and its potential to do harm. The technology is great at understanding language, deciphering images, and comparing, cross-analyzing, and drawing first-line conclusions from the contents of large libraries. It’s also excelling at translating these into easy-to-digest prose and images. But, as far as the technology has come, AI hasn’t yet passed what could be deemed the new Turing test of modern-day machine intelligence – the ability to do the ironing and put clothes away. So we’re not at risk of an AI-driven nuclear war. For now, anyway.
“What we can expect is that new AI applications will be ‘crash-tested’ for safety before being unleashed. This is how real-time environments like foreign exchange trading desks will be protected. Currently, around 75 percent of all AI applications probably risk being stifled by government over-regulation, an anti-innovation stance that must now be challenged if we are to reap the fuller benefits of AI as a society and global economy.”
Kuldeep Yadav, Senior Vice President of AI & Labs for SHL
“In 2024, we are likely to see organizations taking notice of their interviewing practices and applying AI technology to get better visibility across the interview lifecycle. There will be much more scrutiny from candidates on why there are a greater number of interviewing rounds (and they have to spend a lot of time). Organizations will look to optimize their time spent in interviewing and increasing the quality” of hire.”
Sara Gutierrez, Chief Science Office at SHL
“Although we saw economic struggles coming out of the pandemic, we also witnessed the most buoyant job market in recent history. This led to the Great Resignation, with employees having agency and power and employers having to work hard to attract and retain talent—the result: higher starting salaries, greater flexibility, more work-life balance, and so on.
“That pendulum has shifted. A tight labor market, fewer opportunities, job insecurity, and a cost-of-living crisis mean employers are back in the driving seat. While it might be tempting for organizations to pull back from employee-oriented initiatives, such action will be short-sighted. Organizations that continue to invest in their people, offering development, mobility, and career growth in 2024, will reap the rewards in the months and years to come.”
Bryan Murphy, CEO of Smartling
AI-powered Human quality translation will increase productivity by 10X or more.
“At the beginning of 2023, everyone believed that LLMs alone would produce human-quality translations. Over the year, we identified multiple gaps in LLM translations ranging from hallucinations to subpar performance in languages other than English. Like cloud storage or services, AI-powered Human quality translation is increasingly moving toward a cost at which the ROI of translating nearly all content becomes attractive, creating a competitive advantage for those companies that use it to access the global market.
“Contrary to the shared belief that the language services industry will shrink in 2024, it will grow as more content gets localized, but it costs less to do. 2024 will be the year the cost of translation plummets. Translators powered by Language AI and AI-powered Language Quality Assurance increase their productivity by 10X or more.”
Eric Bierry, the CEO of Sopra Banking Software
AI is the final tipping point for hybrid systems with legacy and digital layers.
“Organizations used to be able to get away with taking a piecemeal approach to digitization, tackling the slowest and most inefficient components of their legacy systems, one at a time. While this was once considered a safer, more cautious approach than a full rip-and-replace, these same organizations are now dealing with the consequences: lasagna-like architectures composed of a mix of both legacy and digital layers.
“In the banking industry, for instance, organizations have moved specific areas of their business—such as payment processing or lending—to digital, cloud-based formats while leaving other legacy systems untouched. This approach has not only introduced significant costs and inefficiencies, but a huge gap between these organizations and the rest of the market. Enterprises will have no choice but to begin digitizing their operations from end-to-end in the coming year.”
Claus Jepsen, CTO and CPO, Unit4
The term AI is greatly overhyped and will distract leaders from their end goal.
“Company leaders need to ensure they are asking the right questions. For example, a particular vendor’s AI strategy is irrelevant if leaders don’t understand how deploying AI will support their business objectives. In the ERP industry, 80 percent of automation can happen without deploying AI—it’s more of a buzzword than a strategy. AI will continue to be an overhyped distraction for business leaders in 2024 until companies can determine how AI can best supplement their goals—and without the proper data, this question is nearly impossible to answer. Focus on establishing the user cases and collecting the right data to make informed decisions about your business, rather than jumping on the AI bandwagon.”
The role of the CIO is evolving into a “data philosopher.”
“Gone are the days of CIOs being involved in the tactical elements of servers—or what I like to call ‘server junkies.’ In 2024, the role of the CIO will evolve to create more value-add for businesses as they begin to make sense of company data. Technology is a facilitator to finding an answer within siloed sets of data pools, not the answer itself. CIOs will now begin to determine the right questions to ask to meet business objectives and leverage technology to help find the answers within company data.”
Integration-as-a-service will become the next industry buzzword.
“In 2023, business leaders slowly began understanding the value of integration-as-a-service. In 2024, implementation will begin to take off. Integration-as-a-service has required more time than initially anticipated for company leaders to understand its value proposition. We saw some progress in 2023, but the industry still requires more maturing and understanding before implementation skyrockets. I expect integration-as-a-service to become more prominent as leaders begin to understand the value-add for their organizations and recognize its purpose and availability from vendors and partners.”
Kevin Beasley, CIO, and Joe Scioscia, EVP with VAI
“Limited budgets and difficulty finding IT talent have long hampered tech adoption among small and medium-sized businesses. Continued economic uncertainty will only add to headwinds for companies in 2024. Mid-market companies with limited budgets will be forced to pick and choose how and when they digitize, and these trends and technologies are poised to stand out in 2024:
- Artificial Intelligence: Many companies will take a wait-and-see approach to AI. They’ll utilize AI when it contributes directly to business value, such as in predictive analytics and purchasing forecasting.
- Big Data: Data is the lifeblood of AI, and many enterprises have access to large amounts of valuable data that can be mined to improve the business in various ways. As the use of AI expands to companies of all sizes, many will struggle to answer core data governance questions: who has access to data, who has the right to change it, and is it protected from outsiders? Many firms must work with experienced partners to address these challenges directly.
- Mobile Tools – RF guns and other mobile tools will be important in 2024 for order scanning and picking in warehouses. RF guns, in particular, have long been the workhorses of distribution companies, and they maintain some advantages over mobile technology, including speed. But Android-based devices are getting better and are more familiar to new workers. Training new employees to use smartphones is easier because they’re intuitive and familiar.
“Software vendors serving the mid-market will thrive when they can offer solutions that contribute directly to customers’ bottom lines. Tools that extend relationships with customers, like AI-based recommendation engines and predictive ordering, for example, are becoming more and more common, and they’re leveling the playing field between SMBs and their larger competitors.”
Andy Patel, Researcher at WithSecure
Democratization of AI & 2024 Uses – Get Ready
“Open-source AI will continue to improve and be taken into widespread use. These models herald a democratization of AI, shifting power away from a few closed companies and into the hands of humankind. A great deal of research and innovation will happen in that space in 2024. And whilst I don’t expect adherents in either camp of the safety debate to switch sides, the number of high-profile open-source proponents will likely grow.”
Image and video-generative AI services will start to catch up with text generation in terms of accessibility.
“As these models become easier to prompt and control, Midjourney (and the like) will continue to add functionalities such as 3D and video. Expect a consolidation of these different offerings as the biggest players start to dominate. And the sheer quantity of AI-generated images will mean that nearly every image on the internet, including historical images, will soon be suspicious to someone.”
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