Advanced AI Will Give Deep, Actionable Insights Into Customer Needs
In 2024, more impact can be seen by adopting GenAI potential further for software development and optimization
Manish Bafna, SVP of Engineering,Responsive
AJ Sunder, CPO & CIO, Responsive
FinTech BizNews Service
Mumbai, December 25, 2023: As we stand on the cusp of 2023, Manish Bafna, SVP of Engineering and AJ Sunder, CPO & CIO, Responsive, share interesting views around adopting GenAI and its likely impact in 2024
Manish Bafna, SVP of Engineering
- Following ChatGPT’s surge in 2023, major large language model (LLM) developments and gen AI-enabled products helped support human-level performance. While earlier automation technologies focused on optimizing physical work activities, the current wave focused on decision making and collaboration across modalities from text, code, image to video.
- At Responsive, we were first to launch AI Assistant to simplify content creation and editing for RFPs, RFIs, due diligence and security questionnaires. In 2024, more impact can be seen by adopting GenAI potential further for software development and optimization. For business leaders understanding the use cases and assessing the need of their own industry is critical to create more value.
AJ Sunder, CPO & CIO, Responsive
- Rapidly Evolving AI User Expectations: We will witness a pivotal shift that is already starting to happen: end-user expectations around AI are quickly advancing, paralleling trends in consumer products. For the first time, these expectations in the business sector are outstripping the pace of innovation, even that of most forward-thinking companies. This evolution will drive innovative companies towards advanced AI, aimed at providing not just basic information retrieval but deep, actionable insights into customer behavior and needs.
- Increased Focus on Vendor Risk Assessments Amid Software Subscription Surge: The burgeoning growth in software subscriptions is transforming the business landscape, complicating risk management due to decentralized control of applications and data. Consequently, companies are intensifying their focus on vendor risk assessments. This presents a dual challenge: organizations struggling with managing a vast digital ecosystem and vendors burdened by compliance demands that continue to add to cost-of-doing-business. We foresee a growing reliance on technology to address these challenges, turning them into opportunities to showcase security and compliance commitments.
Embracing Efficiency for Enhanced Productivity: In 2024, businesses will be under intense pressure to maximize productivity, necessitating a critical evaluation of their technology stacks. This will drive a shift towards intelligent, integrated solutions that streamline processes, eliminate redundant spending and technology, and elevate productivity with smarter, more insightful technology applications.
