Artificial Intelligence (AI) is a fundamental driver of progress seamlessly integrated into our digital lives.
Likewise, the AI market size is set to reach upwards of $407 billion by 2027, meaning that its adoption will continue to grow.
That’s why this article will bring light to how AI is shaping and changing some aspects of life by inspiring creativity in a new era of tech advancements.
How Has Artificial Intelligence Shaped the Present?
Artificial Intelligence (AI) is no longer a futuristic concept but a powerful force that is actively shaping our present and future.
Today, AI is subtly guiding decisions and streamlining processes across industries.
In a survey about the state of AI in 2024, the McKinsey Global Institute revealed a significant leap, with 72% of businesses globally integrating AI, up from 55% in 2023, meaning a considerable increment of AI usage in operational strategies.
AI has revolutionized customer service through chatbots equipped with Natural Language Processing (NLP), like ChatGPT, which is by far the most used Generative AI tool according to the Reuters Institute and Oxford University.
The healthcare industry is not left behind, with tools like IBM Watson assisting in diagnosing diseases and planning treatment paths. However, consumer uptake for health-related AI apps has seen a slight dip, remaining at 37% in 2024.
AI Index Report 2024 indicates that Artificial Intelligence has surpassed human intervention’s performance in tasks like image classification and English understanding, suggesting a significant boost in these areas.
In the realm of business, AI's impact is particularly notable. For instance, GenAI has been instrumental in marketing and sales, with an estimated added value between 760 and 1,200 billion U.S. dollars.
In this manner, Forrester's 2024 predictions suggest that AI initiatives are expected to boost productivity and creative problem-solving by 50% across IT operations.
The World Economic Forum discusses how AI is revolutionizing business processes by supercharging the efficiency of doing repetitive tasks and reshaping the future of jobs.
It highlights the use of tools like Microsoft Copilot, which can draft economic models and code, thereby accelerating research progress.
How Will Artificial Intelligence Change the Future?
As we stand on the brink of 2024, the landscape of AI-driven technologies is changing and evolving at an unprecedented pace.
McKinsey Global Institute's survey, mentioned above, also revealed that 65% of organizations are now regularly using Generative AI, nearly double from the previous year.
This surge is reshaping industries, automating routine tasks, creating new paradigms for innovation in different business models to recast the foreseeable future.
In the banking industry, financial services have cut false payment card declines in half while slashing fraud rates, and by analyzing massive transaction datasets, they have also sniffed out subtle signals of fraud for prevention in real time.
AI technology systems in retail is expected to grow from USD 7.3 billion in 2023 to USD 29.45 billion in 2028, with a compound annual growth rate of 32.17%.
This growth is driven by AI's ability to provide personalized recommendations and virtual try-on, among other applications aimed at improving Customer Experiences (CX).
However, with great power comes great responsibility, and the rapid expansion of AI has prompted a necessary focus on governance and regulation of these digital systems.
In the United States, the absence of comprehensive federal legislation has led to a patchwork of state laws.
California and Texas, for example, have been at the forefront, enacting regulations that address the ethical use of AI, data privacy, and the impact of automation on job displacement.
In 2024, California introduced a series of legislative measures targeting discrimination in AI, industry-wide safety and transparency standards, and protections for actors and artists against the replication of their work by AI5.
Looking ahead, the digital future of AI is not just about technological advancements but also about the societal and ethical implications of its integration into our lives.
As AI continues to advance, it'll be imperative to balance innovation with the protection of individual rights and the promotion of equitable access to technology's benefits.
What is Apple Intelligence (AI)?
At the 2024 Worldwide Developers Conference (WWDC), Apple unveiled a suite of AI-driven features that are redefining User Experience (UX) across its devices.
Apple Intelligence initiative is a significant leap in personal computing, integrating GenAI to enhance how we interact with our devices.
With the new iOS 18, iPadOS 18, and macOS Sequoia, users can expect a more intuitive Siri virtual assistant that understands context better, system-wide writing tools for crafting perfect texts, and even the ability to create custom emojis.
One of the most anticipated updates is ChatGPT's integration with Siri, allowing for more sophisticated interactions and responses with the digital assistant, which could perform a broader range of queries by tapping into ChatGPT's extensive knowledge base.
Likewise, for creative minds, Apple's AI can generate images to accompany your text, adding a visual flair to your communications.
These advancements are not just about flashy new features; they represent Apple's commitment to making AI accessible and beneficial, enhancing mundane tasks for users.
Conclusion
With some of its branches, like Machine Learning and Deep Learning at its core, AI is set to catapult our everyday lives into a future where efficiency and creativity reach new heights.
From the recent breakthroughs showcased at the 2024 WCDC by Apple to the applications that streamline our daily lives, AI is the silent partner in our quest for progress.
As a Full-cycle Product Development Agency with over 14 years of experience, we’re eager to see how AI products will continue to shape our future!
