With generative AI advancing leaps and bounds in terms of efficiency and effectiveness, its impact across businesses, governments, and the economy across the UAE and the world is poised to be enormous.
- AI Conference DeepFest at LEAP 2023 in Riyadh Expects Massive Turnout
- UAE loves Green: Cisco broadband survey finds 92% of consumers willing to pay for a greener Internet
According to Cisco’s AI Readiness Index, 95% of the respondents have an AI strategy in place or under development, but only 14% are fully ready to integrate AI into their business. In the UAE, however, the Index indicated that strategy readiness is at 73%, with many organizations deemed as “fully prepared” to adopt AI technology into their business.
“The immense potential of AI and data analytics is expected to generate monumental benefits for the Middle East. The region is continuously pioneering technology adoption, and we are seeing companies exploring new ways to harness the power of AI.”
Cisco has identified five predictions for AI for 2024, and they are as follows:
- Large adoption of GenAI into businesses: Natural Language Interfaces (NLI) powered by GenAI are expected for new products and more than half will have this by default by the end of 2024.
- A movement for ethical use of AI: According to Cisco, 76% of organizations don’t have a comprehensive AI policy in place. They predict that there will be a movement for ethical use of AI with agreed-upon regulations and industry self-policing to mitigate the risks from GenAI.
- GenAI scams and disinformation will increase: AI-enabled disinformation, scams and frauds will continue to grow, according to Cisco, which will pose a threat to businesses, people, and even politicians. This will pave the way for more investments in detection and risk mitigation by the private sector and governments.
- Companies will embrace AI for their tasks: As AI becomes more powerful and efficient, Cisco predicts that businesses will seek innovative ways to leverage the power and benefits of AI without the complexity and cost of building their own platforms with the use of Application Programming Interfaces (APIs).
- Software development will change significantly: Cisco says that software development will change with the help of AI, where programmers will develop new tools, approaches and technologies to centralize toolkits and discover new efficient ways of doing work so they can “focus on delivering exceptional digital experiences.”
What do you think of generative AI, and how do you plan to use it for your work and business? Let us know in the comments.
Mufaddal Fakhruddin has been writing about games and technology for the past 15 years. He has lost count as to how many reviews he has written over the years, but he is sure headphone reviews make up at least 70% of that.