Artificial intelligence: from 2019 to 2024 and beyond
FIBK
Between breakthroughs and predictions: how artificial intelligence is redefining tomorrow
The evolution of Artificial Intelligence (AI) since the 2019 Future Trends Forum report to the present in 2024 has been extraordinary, marking a new era of innovation and practical applications in multiple sectors. In that think tank, we had world-renowned experts in AI, among whom were the Spaniards Nuria Oliver, Andrés Torrubia, Pilar Manchón and Ramón López de Mántaras. This article offers a retrospective view and forecasts where we are headed, highlighting key trends and developments in the field.
State of the art in 2019
In 2019, AI was in an accelerated growth phase, focused on machine learning, data analytics, and process automation. Generative AI was starting to show promise but was still in its early stages. The healthcare, automotive, financial services, and customer care sectors were some of the most impacted by the adoption of AI technologies, mainly through chatbots, recommender systems, and predictive analytics.
Progress to 2024
In 2024, AI has undergone remarkable transformations, driven by technological advances and the integration of AI into everyday life and business. Let’s take a look at the highlighted trends and how they have evolved since 2019:
Generative AI and multimodality: Generative AI has seen a dramatic boom, especially with the advent of models such as GPT-4, which have revolutionized the way we interact with technology, offering enhanced capabilities in text, image, and audio generation. Multimodal models, which combine various types of data such as text, images, and voice, have advanced significantly, offering richer and more personalized user experiences. For example, during a customer service call, AI can analyze a customer’s spoken request, interpret their financial documents, and evaluate their facial expressions in a video call. By synthesizing these data points (voice, text and visual cues), AI can provide more personalized financial advice and finetune creditworthiness assessments.
B2B applications and business efficiency improvements: Generative AI has rapidly expanded into the business arena, transforming project management, quality control, and customer service. The adoption of natural language interfaces in digital products and services has improved business-to-business interaction and accelerated software development. Customization of enterprise AI is on the rise, with companies adopting tailored generative AI applications. These applications are designed to meet specific business needs by integrating proprietary data and ensuring more accurate and relevant responses. This trend points to more efficient and personalized AI-based business solutions.
Personalization and customer care: Personalization and customer care have undergone a revolution thanks to AI. By 2024, the ability to offer highly personalized services has become a standard, with AI anticipating user needs and preferences, optimizing the customer experience in real time. Chatbots and virtual assistants, now more sophisticated, provide personalized responses and 24/7 support, improving customer satisfaction and loyalty. The integration of AI into CRM and data analytics systems enables companies to offer unprecedented customer service, marking a clear evolution from 2019.
Health: innovations 2019 vs. 2024
Since 2019, AI has transformed the healthcare sector, improving diagnostics and personalizing treatments with greater precision. By 2024, this technology will make it possible to develop new drugs at unprecedented speed, improve surgical interventions using autonomous robots, and optimize healthcare data management to prevent disease. AI in healthcare now facilitates a proactive approach to patient care, offering personalized solutions based on genetics and lifestyles.
Education: evolution from 2019 to 2024
In education, AI has revolutionized the way we teach and learn, moving from basic tutoring tools in 2019 to advanced personalized learning systems in 2024. These technologies offer students tailored educational experiences, adapting to their pace and learning style, and providing access to interactive and engaging educational content. AI has also democratized access to quality education, overcoming geographic and socioeconomic barriers.
Ethical and regulatory challenges: The soaring adoption of AI has raised significant ethical and regulatory challenges. The need to establish robust governance frameworks for AI is critical to address biases in algorithms, ensure transparency, and protect data privacy. One example of regulatory progress is the EU AI Law, an important step in regulating the deployment of AI in the European Union, as it covers a wide range of AI applications, from high-risk scenarios, such as the use of AI in sensitive systems like welfare, employment, education, and transportation, to low-risk applications, such as chatbots. In addition, the EU AI Act prohibits certain AI applications that are deemed to pose unacceptable risks, such as the use of emotion recognition in the workplace and social scoring based on social behavior or personal characteristics.
Impact on the labor market: The impact of AI on the labor market from 2019 to 2024 has been profound and multifaceted. Automation and artificial intelligence have redefined roles and skill demand, creating opportunities in emerging fields while displacing routine tasks. The need for technology skills, creativity, and focus on jobs that require a human touch has intensified. Organizations and workers have had to adapt to an accelerated pace of change, prioritizing lifelong training, upskilling and reskilling to navigate this new AI-transformed workplace landscape.
Where we are going
Looking ahead, AI is expected to continue to evolve, with innovations that promise to further transform our lives and the way we do business. The integration of AI into everyday services will become deeper, and human-machine collaboration more synergistic. As we move forward, it will be crucial to address ethical and regulatory challenges to ensure the sustainable and responsible development of AI.
The trend toward open-source AI marks a promising future, democratizing access to advanced technologies and fostering unprecedented collaborative innovation. This means that more researchers, developers and companies can contribute to and benefit from advances in AI, accelerating the development of intelligent solutions in diverse fields. Open-source AI promotes transparency, fairness and ethics in technology, facilitating a community-based approach to addressing global challenges and improving everyday life. One example is the AI Alliance, a collaboration between Meta, IBM, Intel, AMD, and NASA, among others, that seeks to promote the development of more secure and open AI models.
In summary, the trajectory of AI from 2019 to 2024 has been one of unprecedented growth and evolution, ushering in a new technological era. The integration of AI with emerging technologies such as quantum computing, augmented reality, virtual reality and robotics will unlock significant advances, creating synergies that will multiply their capabilities and applications.
If you want to know more about the current state of AI, you can read our 2023 report, “Quantum Computing and Artificial Intelligence: the silent revolution.”
Also, you can listen to our podcast Innoverse “Generative Artificial Intelligence
