According to SAS, generative AI, multimodal AI, digital twins... will be booming this coming year.

The data analysis company SAS has analyzed, like every year, the main trends and predictions on the technological and business advances in AI that will predominate in 2024.

 
Generative AI will improve (and not replace) companies' global strategy

By 2024, organizations will move from considering generative AI as a stand-alone technology to beginning to embrace it comprehensively in their AI strategies. In this way, industries such as banking will use it to predict risks and prevent losses, the healthcare sector to generate individualized treatment plans, and even in manufacturing to identify improvements in quality, maintenance, energy efficiency or performance.

Furthermore, despite concerns raised this year about the jobs AI could eliminate, the conversation will now focus on those jobs it can create. “The massive adoption of generative artificial intelligence will involve the automation and redefinition of roles, the creation of specialized jobs, as well as the necessary adaptation and training. These will be the most relevant factors in the labor market, and that may lead to the restructuring of entire industries and sectors,” says Juan Montero, SAS Director of Operations for West Europe.

Multimodal AI will reach new frontiers

Integrating text, images and audio into a single model will be the next big thing for generative AI next year. Known as multimodal AI, it allows a wide range of data to be processed simultaneously, offering more context-aware applications for more effective decision-making. An example of this will be the generation of objects, environments and spatial data in 3D, thanks to technologies such as augmented reality, virtual reality and the simulation of complex physical systems such as digital twins.

The adoption of digital twins will increase

In 2024, the adoption of AI and IoT analytics will advance through broader use of digital twin technologies, which analyze operational and sensor data in real time and create duplicates of complex systems such as factories, smart cities and networks. energy. For Jason Mann, vice president of IoT at SAS, digital twins allow organizations to optimize their operations and improve product quality, as well as strengthen safety, increase reliability and reduce their emissions.

AI will promote responsible marketing

Although AI is a key tool capable of improving marketing and advertising programs, it can sometimes cause failures and generate inaccurate results due to the use of biased data and models. Therefore, it is expected that marketing professionals will begin to act more responsibly, becoming aware that AI does not always offer true results, anticipating possible risks and validating that the algorithms used are effective and fair. “In SAS Marketing, model cards will be implemented, equivalent to lists of ingredients for AI, urging all marketing professionals to supervise and validate algorithms to guarantee their effectiveness and fairness,” explains Jorge Zafra, director of SAS for Iberia.

AI will benefit insurers, but they will have to be cautious in their deployment

Global losses from natural disasters will exceed $130 billion in 2022, so insurers around the world are now grappling with the consequences. To move forward, over the next year they will increasingly adopt AI in order to take advantage of the potential of their immense data repositories and thus strengthen their liquidity to be competitive in the market.

However, according to Franklin Manchester, global strategic insurance advisor at SAS, one of the top 100 global insurers will go bankrupt in 2024 by implementing generative AI too quickly and without adapting it to its business models. Among the causes that will lead to this situation is the wave of layoffs suffered this year, which has caused teams to now be more dispersed, making it difficult to carry out the necessary supervision that comes with using AI ethically and on a large scale.

Renewed quality in patient care thanks to the use of generative AI

Aiming to advance the healthcare sector and improve the patient experience, organizations will continue to focus on developing AI-powered tools that will advance personalized medicine such as creating patient-specific avatars for use in clinical trials or the generation of tailored treatment plans. “New AI-based generative systems will be created to support clinical decision-making, providing real-time guidance to pharmaceutical entities, providers and organizations,” confirms Steve Kearney, global medical director at SAS.

At the same time, as technological modernization in healthcare continues to advance at an unprecedented pace, forecasting and modeling have become a key part of healthcare. In this context, the academic field will take on special importance, since it is expected that during 2024 the number of researchers and scientists specialized in the development of modeling and forecasts based on AI will increase.

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