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Pure Storage 2024 Predictions: Navigating the AI Evolution Amidst Shifting Trends

vmblog-predictions-2024 

Industry executives and experts share their predictions for 2024.  Read them in this 16th annual VMblog.com series exclusive.

Navigating the AI Evolution Amidst Shifting Trends

By Miroslav Klivanksy, Global Practice Leader, Analytics & AI, Pure Storage

The past year has been marked by a boom in AI developments, especially in the mainstream consumer space. However, as the dust settles on 2023's unprecedented levels of AI experimentation, the AI ecosystem will see further transformation in 2024. This year, we will see an overall shift from consumer-friendly novelty to the strategic application of this new technology across enterprises. Read on to discover what this coming year will bring for AI and its expanding use-cases.

1. AI solutions will become industrialized: 2024 marks a critical juncture in the AI landscape, as industries enter GenAI's ‘trough of disillusionment.' Gartner's Hype Cycle defines this as a period when interest in AI wanes due to experiments and implementations failing to deliver. Companies, once taken by the gloss of AI's potential, will now pivot towards a deeper understanding of its capabilities. This marks a shift from the broad appeal of general AI tools to a tailored approach designed to meet specific business goals across diverse industries. As we shift from the hype brought on by AI tools with a consumer-friendly UX, we'll see companies better understand, invest, and apply AI-specific solutions to their business needs.

2. The rate of AI innovation will slow down in the next year: Over the last several years, AI innovation has been fueled by information sharing and open-source development. However, as companies increasingly invest in AI to give them a competitive edge, and as regulatory bodies seek to unpack the potential around AI's broader impact, companies will likely be more aggressive when it comes to protecting their IP.

This means that in 2024, organizations will implement stronger measures to secure their AI innovations and assets from being copied or used by competitors or unauthorized entities, in turn creating a more defensive and vigilant environment for AI innovation.

3. AI will optimize energy efficiency across energy-hungry industries: AI will be integral in optimizing the energy-optimization process and money savings for industries such as manufacturing, which will rely on better cooling systems, hardware and alternative energy sources to lower increasing power bills. Deploying LLMs for inference at scale will also lead to surprisingly high power bills, leading companies to review their data center efficiency strategies and ESG initiatives.

However, Pure Storage's recent report ‘Drivers of Change: Meeting the Energy and Data Challenges of AI Adoption' found that a majority of organizations are unprepared for the massive energy requirements of AI. In fact, of those who have adopted AI, 88% of respondents said that their need for computing power has surged dramatically - and nearly half (47%) have had to increase their computing power by double or more since. Investing in and deploying the right AI-ready data infrastructure will in turn allow companies to effectively use AI solutions that both improve energy efficiency while reducing their bottom line.

4. The healthcare industry will improve diagnostics and automate administrative tasks with AI: One of the industries most ripe for innovation with the help of AI is healthcare. Not only does it have the potential to improve diagnostics, but it also can improve medical devices and automate administrative tasks. The latter will likely be disrupted first because these systems are electronically managed and quickly automate tasks. AI stands to revolutionize the healthcare industry by enhancing accuracy and efficiency, opening up room for healthcare professionals to utilize its advanced analytics and insights to deliver better care.

In the year ahead, AI's allure of limitless possibilities will entice businesses to leverage the technology for its capacity to maintain sustainable growth and enable competitive advantages in a new era of possibility.

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ABOUT THE AUTHOR

Miroslav Klivansky 

Miroslav Klivansky is the Global Practice Lead for Analytics & AI Solutions with Pure Storage. He's worked with startups, hyperscalers, and the top companies in the Storage industry for over 25 years, with extensive experience in storage systems, system architecture, analytics, AI, and benchmarking. Miroslav loves both learning and teaching, and has translated those passions into helping organizations get value from innovative technologies.
Published Wednesday, December 20, 2023 7:38 AM by David Marshall
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