Artificial Intelligence: Technology Trends Changing the World

Artificial Intelligence has been around for quite some time, however the explosion into mainstream media did not come until the widespread democratisation of Generative AI through the infamous ChatGPT by OpenAI. For an avid technology news reader, it seems like the innovations in the space is unstoppable, with new specialized gen-AI bots arising every day, debates of open source vs. private cloud.

Today’s article we will cover the technology trends that are changing the world right now. The article itself will not specifically address the technology itself, bur rather how businesses should change or shape their ways and viewpoints on these technologies to make the most use of them. To improve their core business and increase competitiveness.

1. Software is eating the world. The AI Software Engineers will change the world.

Software is still eating the world. However, the people creating the software are the drivers of this progress. The impact on AI here is vast, of course in terms of implementation of the AI products that saves bottom line cost. However, the compounding effect here is the AI tools that helps AI engineers. Developer tooling is becoming more important than ever, because we are facing a monumental jump in lowering the cost of software development services. As the productivity increases from virtual assistants are impacting the market and being readily available to everyone throughout the cloud.

This will make already experienced software developers and software engineers faster and better than ever. Also, it will boost the availability of coding knowledge, as it is super easy to ask the chatbots and virtual assistants to create code from natural language.

As many businesses are looking to build supplementary services or businesses to generate additional revenue streams, this will make this process much easier. Probably we will see more in house development teams quickly building these cloud-based applications using AI and having AI integration. Allowing everyone and all to offer their own custom-built supplementary software services, and easily distribute it throughout the cloud.

To learn more about how you could start with these Natural Language Processing (NLP), Large Language Models (LLMs), and Virtual Assistants we recommend you checking out our article on the topic here.

2. Scale beats innovation, AI needs to be implementable and scalable.

When ChatGPT first hit the scene, the hype exploded, and companies rallied to get experiments going trying to figure out how they can apply this before they get left behind. The hype is real. However, usually this niche innovations tend to either die out or only work in specific scenarios. What is key to be successful is if this technology is scalable or not within a business.

To achieve scale, you do need to build out the supporting mechanisms around a technology, and you need to set these things in motion from the very beginning.

AI needs data, it needs to scale to get better and more data. The same goes for your investment in AI, is that it must scale to get better. This will lower costs as well as increase the use cases in your company.

In looking at how to build and set up the operating models for this to work effectively, we suggest looking at our article covering the topic of building your own artificial intelligence, and running MLOps here.

3. Interest on interest, AI on AI on AI.

As with investing, in IT, we want compound interest. Momentum stacks and builds and creates clear sustainable competitive advantage between companies. Speed also kills, so being able to increase sophisticated ways of digitalizing such as cloud, AI, etc. which also happens to increase our cycle speed of improvement and innovation, will compound over time. The most successful AI companies are those that are compounding on the quick wins, finding use cases for artificial intelligence that is extremely easy to implement, and has a low number of dependencies to internal and external readiness.

This will compound over time and give a sustainable competitive advantage as systems starts working together to reduce cycle time of innovation. You should realize that there is no one magic use-case for artificial intelligence that can significantly improve your company. Yes, there might be one out there eventually, but you must start trying many different ways and how things could work together today, and not wait for tomorrow.

If not, you risk getting left behind by competitors. This is therefore the task of the leader. Starting to standardize processes, and making sure your business is ready for adoption of AI. Such as having the cloud supporting your core business, which is one of the great enablers of AI.

How Generative Artificial Intelligence is changing the ROI equation for cloud computing.

Many companies after adopting the cloud, has been struggling to get the ROI they were looking for. There are many reasons for that from application architecture to talent, to operating model, and governance issues. Many of these companies are already in the cloud, which means that the business has now facilitated for a speed and ease of deployment for AI models. Which dramatically is decreasing the requirements of investment and time to adopt more cloud and deploy AI models which even though not perfectly optimized to scale for application usage, such as cloud is expected to, can generate huge amounts of ROI through its capabilities of productivity and time saving.

It also enabled companies to experiment with AI a lot over the various business functions they have, as depending on their adoption level of cloud computing most of the data is there.

This will help the companies increase their ROI on cloud even further, as the potential of AI is very high in cost savings and impact on the broader business.

In one of our most recent articles, we go very in depth about the most common misconceptions preventing cloud adoption and how to address them. For more information on that check out our article here.

4. Leaders are the change drivers making artificial intelligence successful.

There are no change transformation happening without the leaders being on board. What the fact of the matter is that new ways of working are here that welcomes rapid change, change is here to stay. Cloud, artificial intelligence, DevOps, DevSecOps, Microservices, containerization, APIs, all are new ways of working that is emerging that is built to reduce takt time and improve cycle speed for improvement and innovation. All these technologies have a key similarity, all of them are helping to blur the line of traditional centralized IT and pushes IT responsibility out to “normal” businesspeople. Meaning that the lines of a business and a technology leader will become blurrier. As we have discussed in many other articles before. This is what needs to happen to achieve better ROI and cost reduction with technology as a helper.

This is where we see the benefits of moving entire business domains to the cloud, rather than applications or entire data centres. By going business domains by business domains, you can train leaders to become technology literate. Meaning they understand the technology trends coming, and the supporting processes around their core business functions will be ready to handle the changes and challenges. You just need to define the KPIs in such a way that they are incentivized to do so.

5. Knowledge is power, feed you artificial intelligence data.

You need data. You can most likely not run a highly successful business today without data. Data is what preserves knowledge of your business, and is what all business, operational, and AI strategies will be built on going forward.

Knowledge brings returns, and how well you compound on that knowledge matters a lot. How you govern, silo, structure, and ensure high quality for later usage. This will build mechanisms to make improvements and get better overall as a business.

Not all companies that are using data is necessarily a great data and AI organization. Which is why we have written a great series of how you can build an organization that is great at Data and AI. I suggest you have a reading if you want to learn more about building such an organization.

Making the outline transformation as described in the series is some of the first steps in transforming into a next generation business, where you start small with AI now that will escalate as you go.

6. Human in the Artificial Intelligence loop.

The AI wave really exploded, not when the potential for AI was to replace our jobs, but when AI integrated with human workflows to increase productivity. The AI copilot is what really has captured the imagination and curiosity of most businesspeople and IT personnel alike. As it is hard to avoid having a human in the AI loop anyways, why not just supercharge us humans?

It is also the first step in AI literacy, as it is very easy to implement and start experimenting with. Not requiring a lot necessary and builds the foundational understanding.

This is exactly what we are talking about in our article on How to Start with AI. Which guides you through in what Konfitech think is the best way to start with AI in your organisation.

7. The Aritificial Intelligence neuron.

Going into the future organisation we will most likely also see some structural changes in how a business is organised. We have seen operating model shifts as cloud was introduced to a more platform economy with products etc. Which leads to responsibilities of things gets pushed out into the organization. One example of this is security, how you will organize a Security centre but developers in models for DevOps and DevSecOps will sit on most of the day-to-day responsibilities. This effectively empowers workers to use AI to understand general non-domain specific ways of working, prompting the AI with safety questions, and bringing the more advanced questions to the centralized centre of excellence. This will effectively change the way departments are organized into a neural structure.

8. IT-As-A-Service.

The IT function of the future will be delivered as a service integrated into all business domains. As more and more of the business processes gets eaten up by technology, it will be sown into all departments. Therefore, IT needs will be delivered on demand as a service, built into the cloud and the application business users’ provision from the app. Todays mostly generic operational parts of the IT centre will be automated or shift the responsibility of into the cloud.

9. ROI and value remain the same despite Artificial Intelligence.

In all our articles about AI, the name of the game remains the same. It does not matter if it is in the cloud, open source, LLM, NLP, ML, GenAI, you can use all the keywords in the book. It is not worth doing unless you get a return on the investment. Do not forget that.

10. Experiments will win in Artifical Intelligence.

Change and innovation has not stopped accelerating in human history, and the trend will continue. Entrepreneurial ventures in the world of AI are coming out of the woodwork every day on the news. The most flexible and adaptable systems will win as they can quickly test out what works. Therefore setting your organisation and tech stack up for AI readiness is so important. As the supportive systems that increases the speed of testing and scaling will allow you to do faster.

Setting yourself up for capabilities such as MLOps, amongst many to quickly reiterate on your capabilities will allow you to compound the successes.

Summary

These are the top trends that we in Konfitech see as changing the way business in done right now. It is important to understand them, assess them, and see if you can get on some of the trends to prepare for tomorrow. In this article we shared many blog posts, but we also have much more on our homepage.

If you have any questions as to how you can get started with anything of this, or need to get external competency or support, reach out now or get left behind.

Check out more aticles from us:

https://konfitech.com/konfitechs-the-artificial-intelligence-technology-trends-that-are-changing-the-world/
https://konfitech.com/konfitechs-top-5-common-mistakes-business-leaders-have-about-ai/
https://konfitech.com/insights/ai-artifical-intelligence-how-to-start-nlp-llm-virtual-assistants/

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The Artificial Intelligence technology trends that are changing the world