Top AI trends for 2024

Leaders from over 41 countries convened at the eighth DES – Digital Enterprise Show, Europe’s premier summit on exponential technologies, in Malaga, Spain. They discussed the current and future applications of generative AI, identifying ten key trends for 2024:

AI as a new technological cycle

Artificial intelligence, particularly generative AI, has surpassed recent technologies, becoming integral across industries. It has notably impacted banking and boosted competitiveness in IT and professional services. Anticipation and hyper-personalisation make AI the disruptive force of 2024, with expanded use cases expected next year.

Addressing AI data biases

The summit highlighted the need to correct biases in AI to ensure it reflects diverse ethnic, gender, demographic, and group perspectives. Zondwa Mandela, president of the Mandela Legacy Foundation, urged for better data access and AI solutions for Africa, set to comprise 25% of the global population by 2050.

AI ethics and regulation

With generative AI investment projected to hit $151.1 billion by 2027, regulatory frameworks are essential. DES2024 emphasised the need for legislation to ensure privacy, data security, and ethical AI development. Collaboration among global leaders, including the UK, US, and China, is crucial.

Human talent and new professions

Experts at DES2024 stressed the importance of human talent in AI implementation. AI will enhance rather than replace jobs, increasing remuneration for AI-specific skills by 25%.

Risks of AI perfection

AI’s advancement poses threats like privacy breaches, job impacts, copyright issues, reduced creativity, and misinformation. DES2024 noted that 40% of consumers fear privacy violations and 'deep fakes'. The psychological impact on vulnerable users, especially children, was also discussed.

Custom AI solutions

DES2024 highlighted that AI integration requires tailored approaches. The summit predicted a strong ecosystem of AI developers by 2025, with no-code tools gaining popularity in education, healthcare, and marketing.

Integration with other technologies

AI's synergy with other technologies like the Cloud and Blockchain is creating opportunities. Global spending on cloud infrastructure rose 21% to $79.8 billion in Q1. AI and Blockchain are transforming banking, healthcare, and other sectors, with significant cost savings and improved processes.

Need for European cybersecurity

Cyber-attacks have surged, affecting major entities like Meta and Amazon. DES2024 called for a unified European defence strategy, starting with a body to protect EU-27 from cyber threats, ensuring data security.

Measuring ESG for company value

ESG criteria are now crucial for regulatory and investment progress. Data analytics technologies help measure ESG impact, boosting company value by up to 5%. Certifications enhance stakeholder engagement, risk management, and performance.

Málaga’s tech leadership

DES2024 reaffirmed Málaga's status as a European tech hub, attracting investment and talent. The city’s model, blending business with cultural and climatic benefits, is bolstered by tech giants like Google and Vodafone, and the new IMEC headquarters.