AI, Digital Transformation and Better Processes — Laserfiche Leadership Makes Predictions for 2024
At Laserfiche we’re always looking forward. As such, our leadership team continually evaluates the latest trends and how we can best position our organization and its customers for the future of work.
Here’s what some members of our executive team here at Laserfiche have to say about what to look forward to in 2024:
Karl Chan, CEO
Top challenges for CEOs: Economic uncertainty has been a concern since before COVID, and now there are multiple high-visibility geopolitical conflicts that have added to that concern. All CEOs in 2024 will have to navigate this uncertain landscape and the decisions that come with it — such as how to manage budgets or predict revenue and spending with the possibility of rising interest rates; how to do business in other regions and more. Additionally, we’ve seen a lot of investment in automation, digital transformation and AI over the past few years — in 2024, we’ll see CEOs taking a hard look at ROI for these initiatives. For AI especially, the initial excitement is starting to subside, so business leaders are going to be looking at if and when they start to use AI in their business, and how to measure success.
Digital transformation will continue to be a priority: There will always be a need for process automation and digital transformation – regardless of the state of the economy – and that need will continue to increase as technology evolves in 2024. If people and organizations are looking to cut costs, they will need automation and digital transformation to help with efficiency. If they are growing or trying to gain a competitive edge, they will need automation and digital transformation to support innovation and growth.
Data will be more important than ever: Data is what gives organizations the ability to successfully set and achieve goals, make informed decisions, and gain a competitive advantage. It’s not just the C-suite or tech companies that can benefit — every organization can benefit from fostering a data-fluent culture, and every individual can benefit professionally from increasing their level of data fluency. Data can help HR teams reduce turnover, for instance, or support frontline employees with reducing errors or automating routine tasks. With the use of AI becoming increasingly common, data will be more important in 2024 than ever before.
Generative AI will still be governed by businesses: Generative AI presents a lot of opportunities to streamline operations, improve decision-making, and react faster to changes. Organizations will be able to use AI in 2024 to improve business-critical processes across the enterprise, including customer acquisition, service and strategy; product development and service delivery; and financial analysis and capital management. We’re seeing governments begin the conversation about AI guardrails, but at the moment it’s up to organizations to set policies and expectations around AI usage for employees.
Thomas Phelps, CIO
Companies will need to embrace generative AI responsibly and sustainably: It should be no surprise that generative AI is at the forefront of 2024 predictions, assuming that quantum computing doesn’t break current encryption systems, which could upend cryptography and the security landscape as we know it. In the business landscape, several major challenges loom large. First and foremost, the task of securing an extended enterprise and supply chain is no easy feat on an ever-extending attack surface, presenting new threats such as zero-click vulnerabilities and AI-augmented attacks. Simultaneously, organizations are faced with the challenge of embracing generative AI responsibly and sustainably to drive innovation and productivity, while effectively managing associated risks and costs. There is also a pressing need to control increased software subscription costs, consisting of both an inflationary uplift and an “AI premium.”
The CIO role will continue to evolve: The CIO role will continue evolving into that of a Chief Digital and Innovation Officer role, with some specific industries carving out a Chief AI Officer position to focus solely on AI. The key to any successful business strategy is a digital strategy that enables desired business outcomes. In 2024, a comprehensive digital strategy must incorporate AI-augmented development, support, marketing, and sales initiatives to drive productivity gains, optimize costs, and reimagine the way business is conducted.
Michael Allen, CTO
AI will become more specialized: In 2024, we’re going to start to see generative AI tech expand beyond the “artificial copywriter,” and be used to generate content in multiple mediums and more highly specialized applications, such as 3D modeling, animation, architecture, and video creation. We’ll see tremendous early growth, followed by a realization that the costs of generative AI are still very high due to the scarcity of specialized hardware and the energy costs to train large models.
AI will Improve detection of cybersecurity threats: Threat detection tools are going to see a big upgrade with the incorporation of AI models. Software and systems are still insecure by design, so early threat detection is going to be the most critical component of mitigating threats for the foreseeable future.
Return to office will still drive future of work conversations: The biggest ongoing conversation around white-collar work is return to office, and I don’t see it stopping anytime soon. In 2024, we may see remote work almost accidentally accelerate the adoption of automation by leaders.
Sustainable technology will grow due to cultural changes: Unfortunately, almost all technologies have driven an increase in energy consumption and therefore carbon emissions. Major technological breakthroughs in tackling climate change seem to require breakthroughs in material science and manufacturing with advanced materials at scale. In 2024, cultural changes to steer humanity towards a more sustainable lifestyle, in an environment of rapid societal change, may actually be more tractable.
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