DUBAI, UAE – Developments in Artificial intelligence (AI) have been impacting businesses, governments and economies across the world. Advancements in AI, especially generative AI (GenAI), are leading to a once-in-a-generation shift.
The Cisco AI Readiness Index has revealed that 95 percent of respondents have an AI strategy in place or under development, but only 14 percent are fully ready to integrate AI into their business, a press release said.
In the UAE, the index indicated that strategy readiness stands out as the most developed aspect, with 73 percent of organizations deemed “fully prepared”.
Cisco’s AI predictions for 2024 focus on what organizations can do to adopt and integrate AI while adopting trust and security measures and regulations.
It also says how innovators can leverage that technology to remain competitive.
Reem Asaad, Vice President, Cisco Middle East and Africa, said, “The immense potential of AI and data analytics is expected to generate monumental benefits for the Middle East.”
She said, “The region is continuously pioneering technology adoption and we are seeing companies exploring new ways to harness the power of AI for operational efficiency, revenue and market share growth and harnessing innovation to adapt to customer needs.”
She added, “This year’s AI trends reflect a deepening sophistication and caution in AI development and deployment strategies, with an eye to ethics, safety and the evolving regulatory landscape. Trust between people and the AI systems and tools they use is fundamental and non-negotiable.”
Asaad said, “That means providing clarity on what AI can and cannot do with new data transparency and responsibility frameworks, new efforts to educate people and businesses about how disruption might happen.”
She said that it also involves “teaching the skills that will be needed for new AI-enabling and -enabled jobs. At Cisco, we are already integrating differentiated AI capabilities into our portfolio — and doing it responsibly.”
She added, “We see a future with AI that’s innovative, efficient and trustworthy, not to mention more sustainable and equitable.”
Natural language interfaces (NLIs) powered by GenAI will be expected for new products and more than half will have this by default by the end of 2024.
GenAI will also be leveraged in B2B interactions with users demanding more contextualized, personalized, and integrated solutions.
Adoption of AI is sitting at the intersection of innovation and trust. Yet, 76 percent of organizations don’t have comprehensive AI policies in place.
There is mostly general agreement that we need regulations/policy and industry self-policing and governance to mitigate the risks from GenAI. There is a need to ensure that consumers have access to and control over their data.
In 2024, AI-enabled disinformation, scams, and fraud will continue to grow as a threat to businesses, people, and even candidates and elections.
There will also be more collaboration between the private sector and governments to raise threat awareness and implement verification and security measures.
Businesses must prioritize advanced threat detection and data protection, regular vulnerability assessments, updating security systems and thorough audits of network infrastructures.
For consumers, vigilance will be key to protecting identities, savings and credit.
In the year ahead, businesses will seek innovative ways to leverage the immense power and benefits of AI without the complexity and cost of building their own platforms.
Application programming interfaces (APIs) will play a pivotal role. With access to a vast array of AI capabilities through APIs, teams will automate repetitive tasks, gain deeper insights from data, and enhance decision making.
As organizations continue to modernize, software development will change with novel tools, approaches and technologies. Programmers will leverage platforms and collaboration – and even a little help from AI – to centralize toolkits and unlock newfound efficiency so they can focus on delivering exceptional digital experiences, the press release added.
Humans checks and balances must ensure AI-based decisions are fair, unbiased, and aligned with ethical and moral values. AI should augment human decision making, not replace it entirely.