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Laserfiche 2024 Predictions: Forecasting the Next Wave of Intelligent Enterprise Transformation

vmblog-predictions-2024 

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

Forecasting the Next Wave of Intelligent Enterprise Transformation

By Michael Allen, CTO, Laserfiche

2023 was a transformative year for businesses across all sectors. Generative AI burst onto the scene, democratizing powerful, intelligent capabilities in one fell swoop. Firms quickly adopted novel AI tools to help streamline operations, enhance decision making and ultimately unlock new avenues for growth. Today, analyst research suggests nearly one-third of organizations leverage generative AI "regularly in at least one business function." The case for AI right now is evident. But what about tomorrow?

By examining what has already happened, we can start to anticipate what organizations might need out of their AI capabilities moving forward. Indeed, it's easy to see how AI will continue to make a significant impact, augmenting human capabilities and even sparking a paradigm shift in business models, customer experiences and workforce interactions. At a broad level, AI is likely to move from bolstering just one business function to becoming an integral driving force behind operations of all sizes.

In 2024 and beyond, the race to leverage AI will unlock many new innovations

  • AI will get more specialized: In 2024, we're going to start seeing generative AI tech expand beyond the "artificial copywriter," mantle and be used to generate content in multiple mediums and more highly specialized applications. Many existing AI assistants can already create stunning images. In the near future, they'll be able to help with other art forms, including 3-D modeling, animation, architecture, and video creation.

    The medical field illustrates what the path to specialized AI models might look like. From diagnostics to imaging to lab analysis, specialized AI has made headway in various niches of the healthcare industry.
  • AI costs will spark innovations in model development. Thanks in large part to the upcoming specialization, we'll see tremendous early growth in AI, followed by a realization that the costs of generative AI are still very high due to the scarcity of specialized hardware and the energy costs to train large models. 

    One firm (competitive with OpenAI) estimates that processing power, storage and bandwidth needed to host and run models like ChatGPT can cost on the order of $3m per month. Not many organizations have the resources to maintain that sort of run rate. As so often happens, the drive to unclog this bottleneck will lead to innovations in the way data is captured and models are trained, to optimize the resources available.
  • AI will improve threat detection in 2024: Threat detection tools are going to see a big upgrade with the incorporation of AI models. Software and systems are still insecure by design, so early threat detection is going to be the most critical component of mitigating threats for the foreseeable future.
  • AI will increase in-person presence of the hybrid workforce: While conversations continue to take place regarding the shift between remote and return to office work, the reality is that hybrid work is the primary business model for white-collar industries and it's here to stay for the time being. However, in 2024, AI will automate routine tasks and redefine productivity making at-home focus time for employees less relevant for a number of white-collar occupations. Therefore, AI will accelerate the shift back towards spending more hours in the office, but only in the context of a hybrid workforce. Work done at home will ultimately need to become more creative to "outcompete" AI.
  • Sustainable technology will grow due to cultural changes: Unfortunately, almost all technologies have driven an increase in energy consumption and therefore carbon emissions. The data center industry alone is responsible for up to 3% of global electricity use, for example. Major technological breakthroughs in tackling climate change seem to require breakthroughs in material science and manufacturing with advanced materials at scale. In 2024, cultural changes to steer humanity toward a more sustainable lifestyle, in an environment of rapid societal change, may actually be more tractable. Some of this has already started to take shape, with the UN launching its AI Advisory Body. The initiative promises to find ways to "combat and mitigate the effects of climate change" with AI.

AI will be the cornerstone of growth and progress

The AI arms race is quickly intensifying as companies lean on intelligent algorithms to uncover every inch of competitive edge. 2024 and the years to follow will be marked by this relentless push to find new levels of efficiency and innovation. The pursuit of continued optimization can ignite new possibilities and even reshape how companies, from small startups to major conglomerates, operate. Moving forward, AI is projected to become the essential ingredient for success in the digital age.

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ABOUT THE AUTHOR

Michael Allen 

Allen leads the development of Laserfiche technology and is responsible for delivering industry leading intelligent content management, business process automation and analytics solutions. He joined Laserfiche in 2002 as a software engineer and has since played a key role in Laserfiche's innovation. He was promoted to Chief Software Architect in 2019. Allen helped to lead the transformation of Laserfiche into a cloud-first development company, focused on delivery of Laserfiche as a SaaS system. He earned a B.S. in computer science from Harvey Mudd College. 

Published Thursday, December 28, 2023 7:00 AM by David Marshall
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