A CEO's view on AI in 2024

Stephen Kelly, CEO, Cirata

I want to talk briefly about my view as a CEO, on what AI looks like sitting here in 2024.

The game-changing innovation: OpenAI's Chat GPT

So last year, we saw an absolute explosion of innovation when Open AI released Chat GPT. And it was the first Open Source Generative AI model accessible to all companies of people, and people realize pretty quickly almost overnight, what artificial intelligence can deliver.

The dark side of AI: rise of deep fakes & need for governance

Now, unfortunately, there will be downfalls. Bad actors, bad players, the rise of deep fakes. Yeah, we'll see an increased need for governance, regulators, government to come on the pitch. And policies to make sure that we are all kept safe, and AI is used for ethical purposes.

AI in business: bridging skills gap & boosting productivity

Now already, we're seeing companies using artificial intelligence to fill employee skills gap, help with recruitment, increased productivity, and automate some process. I can see this already as our own company, Cirata. Those who have adapted to the use of AI are getting work done at scale and quicker. And expanding their skill sets as well.

The customer-centric shift: personalization & enhanced experience

In 2024, we'll continue to see companies leveraging their own data to find new ways to deliver the best customer experience. And I think this is a really critical thing for chief executives to pay attention to. Because companies will lean towards intelligent personalization and putting customer experience, and the customer at the heart of the business. And that's ultimately, the nirvana for every chief executive who really wants to put the customer right at the center of their business.

A seismic shift: the beginning of the AI revolution

Perhaps, what's most intriguing... If you've been in technology and lived through the mid-nineties, the dot com bubble, the boom and bust, that era, this time, right now, it kind of feels a little bit the same. Where I go back on the explosion of the internet in the late nineties and early two thousands, we're really at the beginning of a seismic change that I can see in artificial intelligence. And I think it's a time where we'd certainly should fasten our seat belt and think about how do we go faster and exploit the power and the potential for artificial intelligence within our businesses... and that is very exciting.