quote In achieving a delicate equilibrium between harnessing AI capabilities and safeguarding against potential threats and challenges, business executives will utilize technology to assert control over the terms of this ongoing symbiotic relationship with AI.

Embark on a journey of innovation: Decoding the generative AI revolution

Explore 10 pioneering AI trends, uncover the power of generative AI, and witness how Grid Dynamics is spearheading innovation. Download now to gain exclusive insights to transform your organization and stay at the forefront of the AI revolution.

Key takeaways

Gain in-depth insights into the transformative power of generative AI and its applications.
Witness real-world examples illustrating how AI innovation can propel your business forward.
Understand the strategic integration of AI technologies, such as conversational AI, XR, and composable commerce.
Uncover actionable steps and best practices for implementing and maximizing AI opportunities in various business domains.
Learn about the challenges and opportunities presented by responsible AI practices in compliance with evolving regulations.
Discover the role of retrieval-augmented generation (RAG) in mitigating risks and enhancing responsible AI practices.
Navigate the complexities of cloud-powered, AI-augmented development and testing, including AIaaS, multi-cloud strategies, and real-time analytics.
Explore the demand for business process re-engineering (BPR) to maximize AI opportunities, with a focus on generative AI adoption.
Acquire practical steps for implementing BPR with generative AI, ensuring fairness, transparency, and efficiency in the process.
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Redefine the future of technology

Explore the transformative power of generative AI in 2024, liberating businesses and employees from mundane tasks to focus on strategic decision-making.
As generative AI reshapes industries, our e-book navigates the challenges of safeguarding intellectual property and deploying AI responsibly. Delve into the depths of data analysis and discover cutting-edge examples of AI, predictive analytics, and machine learning that redefine innovation.

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Navigate the generative AI revolution

For business leaders, success in 2024 requires identifying risks, building trust, and ensuring security. Learn how to find the right talent, navigate evolving technology ecosystems, and leverage partnerships for generative enterprise development.

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Unravel the AI landscape

Explore the top 10 AI trends shaping 2024, unveiling new opportunities and risks in this transformative era. Grid Dynamics leads the way, offering insights and strategies to help your enterprise thrive in the evolving technology landscape.

A snapshot of the top ten 2024 AI trends

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1. Strategically adopting generative AI for maximum business value

Key to this generative AI trend is strategic adoption. By 2026, over 80% of enterprises will leverage generative AI, yet, only 54% of projects progress beyond initial stages. In the face of increased software spending and rising interest rates, discover how to align AI initiatives with clear ROI and strategic vision for unprecedented and sustainable competitive advantage.

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2. Monetizing data for AI success

Organizations are appointing C-level roles dedicated to overseeing data monetization, with a projected 200% increase in the adoption of vector databases. Closing the skills gap in prompt engineering is also crucial, as 60% of employees are expected to receive AI communication training. Explore how you can achieve a 20% boost in model accuracy through data quality improvement, and enhanced data lakes for relevant insights, better decision-making, and increased stakeholder trust.

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Abstract cubes to explain MACH ecosystem and generative AI

3. Harnessing composable commerce for measurable generative AI success

90% of the top 500 US organizations value intangible assets in their balance sheets: data, software, brand, and customer experience. Your choice of technology significantly influences the swift scaling of these assets. Learn how integrating generative AI with composable commerce in the MACH ecosystem positions businesses as innovative leaders with the agility to boost these assets, and open new avenues for growth and innovation.

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4. Elevating customer experience with conversational AI and XR

Customer experience will be transformed with generative AI, extended reality (XR), and conversational AI experimentation by major brands. Despite the hype, 48% of consumers still express discomfort with AI-powered self-service. With this in mind, customer service will become the primary driver of purchases, even surpassing the appeal of low prices. Discover cutting-edge conversational AI strategies that preserve the human touch.

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5. Minimizing harm with responsible AI practices

Industries are on the brink of a transformative era, aligning innovation with ethical considerations. Accountability in AI governance and data privacy is underscored, with CIOs playing a key role. Notably, 33% of organizations are now publishing clear explanations of AI use and conducting impact assessments, and Governments are swiftly moving towards legislation to ensure safe, secure, and trustworthy AI development. Learn about Retrieval-Augmented Generation (RAG) and LLMOps to effectively mitigate these risks.

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6. Building cyber resilience through intentional design

Organizations recognize the urgency of cyber resilience, exemplified by over one in six planning a cybersecurity budget increase of more than 10%. The rise of AI introduces new risks, prompting regulatory scrutiny and emphasizing the need for intentional design against evolving cybersecurity challenges. Unpack this proactive approach to anticipate and defend against emerging threats, address privacy challenges in cloud computing, and place regulatory emphasis on security practices, and strategic resource allocation.

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7. Cloud-powered, AI-augmented development and testing

With a projected 30% of enterprises adopting AI-augmented development and testing by 2025, the shift toward intelligent automation and leaner software creation is clear. Discover the pivotal role of AI-as-a-Service (AIaaS) in democratizing AI access, witness the rise of hybrid and multi-cloud strategies, and understand the significance of real-time cloud infrastructure for immediate decision-making. Uncover the push for simplified cloud computing with low-code/no-code tools, empowering users while ensuring a balanced approach.

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8. The rise of partnership-led innovation in 2024

The symbiotic relationship between businesses and partners in 2024 is crucial, with 78% of forward-looking decision-makers preparing for co-innovation. This shift positions partnerships as strategic pillars, enhancing capital efficiency, customer service, and lead generation. Find out how generative AI, championed by major vendors, intertwines with partner-led innovation, ushering in transformative possibilities.

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Quantum technology and AI systems

9. Growing demand for business process re-engineering to maximize AI opportunities

Business Process Re-engineering (BPR) involves the radical transformation of business processes, targeting key areas like quality, output, cost, service, and speed to reduce enterprise costs. Uncover how BPR enables enterprises to optimize resource utilization, set clear goals, and adopt new technologies, crucial for unlocking the full potential of AI, particularly generative AI.

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10. Looking beyond the AI revolution

Uncover the promise of computational supremacy with quantum computing and the pivotal role of sustainability in carbon capture, circular economy practices, and green cloud computing. Learn about the intersection of generative AI and sustainable practices for enhanced efficiency in connected workforces.

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Contributing authors
Rajeev Sharma
Chief Technology Officer

With over three decades of diverse expertise spanning engineering, military, and entrepreneurship, Rajeev Sharma is a trailblazing Chief Technology Officer (CTO) with a distinctive approach to leadership. His journey from combat in the Indian army to rocket propulsion engineering, and ultimately to corporate leadership, reflects a commitment to continuous learning, resilience, and traditional values. As the CTO of Grid Dynamics, Rajeev fosters a culture of data-driven decision-making and engineering rigor, navigating...

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Rohit Tripathi
Principal, CTO Office

Rohit is Principal, CTO Office at Grid Dynamics, focused on supply chain and manufacturing practice areas. He has over 25 years of industry experience in leading organizations and teams across the globe. Before joining Grid Dynamics, Rohit was the Chief Product Officer at Honeywell International; prior to which he held leadership roles at SAP, The Boston Consulting Group (BCG) and supply chain software provider i2 Technologies (now Blue Yonder). Rohit holds an MBA with high honors from Booth School of Business...

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