Believe it or not — 2023 is almost over. The fourth quarter is now underway; the holidays are approaching, and businesses are working hard to meet their targets before the end of the year. Apart from summarizing achievements and setting new goals, Q4 is also a perfect time to analyze how the trends evolved and predict what will happen with them in the future. As the martech market evolves, it is critical to maintain your strategy adaptive. Let us help you stay at the top and discuss the key martech trends and technologies for 2024. So keep reading, be inspired, and prepare your business for success with a professional martech development company.
Democratized Generative AI
The convergence of massively pre-trained models, cloud computing, and open source is democratizing generative AI (GenAI), making these models available to workers globally. Gartner projects that by 2026, more than 80% of companies will use GenAI APIs and models and/or implement GenAI-enabled apps in production, up from less than 5% in early 2023. GenAI apps may make huge amounts of internal and external information accessible and available to business users. So the fast adoption of GenAI will greatly democratize corporate knowledge and capabilities. Large language models will allow organizations to provide information to their employees in a conversational way with deep semantic understanding.
AI Risk, Trust, and Security Management
The democratization of AI access has increased the urgency and clarity of the need for AI Trust, Risk, and Security Management (TRiSM). Without these safeguards, AI models may have bad impacts that spiral out of control, overshadowing any good performance and social improvements enabled by AI. AI TRiSM includes the following:
- ModelOps tools;
- AI-specific security;
- Proactive data protection;
- Model monitoring;
- Risk controls for third-party model and application inputs and outputs.
Gartner expects that by 2026, organizations that use AI TRiSM controls will make decision-making accuracy better by eliminating up to 80% of inaccurate and fraudulent information.
The use of AI technologies such as machine learning and GenAI to assist software developers in planning, creating, and testing applications is known as AI-augmented development. AI-assisted software engineering boosts developer productivity and helps development teams to meet the growing demand for business-critical software. These AI-infused development instruments enable software developers to spend less time writing code and more time on more strategic tasks like designing and composing attractive commercial apps. If that’s not the case for your company, then you can always order custom web app development services and rest assured about quality software delivered to you in no time.
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There is a strong need and demand for intelligent apps. In the 2023 Gartner CEO and Senior Business Executive Survey, 26% of CEOs identified a talent shortage as the most detrimental risk to their firm. CEOs’ top labor issue is attracting and keeping people, and AI has been chosen as the technology that will have the greatest influence on their sectors over the next three years. So it is expected that intelligent applications will be used to supplement or automate labor in a variety of ways and provide experiences that adapt dynamically to the user.
The augmented-connected workforce (ACWF) movement is being driven by the need to accelerate and scale talent. The ACWF employs intelligent apps and workforce analytics to give daily context and direction to the workforce in order to improve its experience, well-being, and capacity to develop its own talents. Simultaneously, the ACWF produces business outcomes and has a favorable influence on important stakeholders. By 2027, 25% of CIOs will have used augmented-connected workforce efforts to cut time to competence for essential tasks by 50%.
Machine consumers (also known as ‘custobots’) are nonhuman economic players that can negotiate and acquire products and services in return for payment autonomously. By 2028, there will be 15 billion linked items with the ability to act as consumers, with billions more to follow in the future years. This growing tendency will generate billions of dollars in income by 2030 and will ultimately eclipse the debut of digital commerce. Opportunities to either enable these algorithms and devices or perhaps build new custobots should be strategic considerations.
Gartner projects that by 2027, more than 70% of organizations will be using industry cloud platforms (ICPs) to advance business activities, up from less than 15% in 2023. ICPs target industry-relevant business results by merging core SaaS, PaaS, and IaaS services into a complete product offering with scalability. An industry data fabric, a library of bundled business capabilities, composition tools, and other platform improvements are usual. ICPs are industry-specific cloud proposals that may be further adapted to an organization’s requirements.
Follow the Martech Trends to Stay at the Top
It doesn’t matter what industry your company operates in, it is critically important to follow the key martech trends. Thus, you will show your professionalism, attract more customers, and bypass your rivals with ease. Create a professional image for your company.