3 AI trends that will shape your workforce in 2024

Generative AI had a breakout year in 2023—but companies are looking ahead to 2024.

The Computing Technology Industry Association (CompTIA) has released its “IT Industry Outlook 2024,” which points to trends that will shape the ongoing AI evolution, based on a global survey of more than 1,000 tech industry professionals. Here are the top three trends going into next year, according to the organization.

—AI workflows will continue to evolve. 

The stage has been set for a full workplace revolution in the years to come, with AI handling routine tasks or accelerating automation while companies reimagine the roles and responsibilities of employees, CompTIA predicts.

However, AI products, outside a few select cases, are not standalone business solutions. The data needed to properly train a large language model is in short supply at most organizations, according to CompTIA. 

“In the same way that companies are shifting to a cloud-first mentality for their architecture needs, they will likely be hesitant to build out their own infrastructure for AI,” Seth Robinson, VP of industry research at CompTIA, told me. “The costs of building AI systems at scale will be prohibitive for most companies, even as their goal might be to have customized AI output.” Instead, companies will use APIs and open-source solutions that allow them to load in their own data, Robinson said. 

But just organizing the data properly will be a sizable task, and reskilling of employees will be necessary, he said.

—Tech providers will continue to use AI to run better businesses. 

Over 20% of firms surveyed are aggressively pursuing integration of AI across a wide variety of technology products and business workflows.

Some of the use cases include: AI-powered chatbots and virtual assistants to speed and bolster customer service; AI algorithms to analyze customer data and predict buying patterns for more effective sales and marketing campaigns; AI tools to automate repetitive tasks and optimize workflows (and as a result, free up human resources to pursue more strategic goals). “These are all benefits that companies are starting to see today that hold great potential for the future,” according to CompTIA. 

—Governance becomes a focal point for cybersecurity and data operations. 

“Companies should continue pursuing the cybersecurity strategies they have built in recent years, including a move toward a zero-trust mindset, deeper specialization of the cybersecurity workforce, and adoption of risk management practices,” Robinson said.

“Governance will become a key watchword, not just for maintaining compliance to governmental regulations but also for following best practices in a dynamic field,” he explained. “Together with risk management, CFOs and CISOs [chief information security officers] can work together to highlight how proper governance can mitigate risks throughout the organization.”

Cybersecurity threats in the age of AI was a topic of discussion during the Coins2Day Brainstorm AI event this week. “Gen AI makes things easier for both the defenders and the attackers,” said Subha Tatavarti, chief technology officer for Wipro. Generative AI is making phishing attacks more convincing, and large language models in particular have created a massively exposed attack surface. 

“I feel for the CISOs of today,” Tatavarti said, adding that it’s going to be critical for CISOs to innovate quickly, including doing their own innovation beyond just what’s available on the market.

You can read CompTIA’s complete list of 10 trends for 2024 here. 

Have a good weekend.

Sheryl Estrada
[email protected]

Leaderboard

Some notable moves this week:

Sherry House, CFO at Lucid Group, Inc. (Nasdaq: LCID), a maker of luxury electric vehicles, resigned from her position to pursue other opportunities. House will be available in an advisory role through Dec. 31 to assist in the transition of her duties. Gagan Dhingra, Lucid's current VP of accounting and principal accounting officer, will additionally serve as interim CFO and principal financial officer. A search for a replacement CFO is underway.

Ewout Steenbergen was named EVP and CFO at Booking Holdings Inc. (Nasdaq: BKNG), effective March 15. He succeeds David Goulden, who announced his retirement as CFO earlier this year. Steenbergen joins Booking Holdings from S&P Global, where he most recently served as EVP and CFO.

Nik Rupp was named CFO and president of international markets at TGI Fridays, an American casual dining restaurant chain. Rupp most recently held the role of COO at Papa Murphy's International, subsequent to serving as the company's CFO. Previously, he held leadership positions at global consumer brands, including Specialized, Nike, and Converse.

Jim Tarangelo was promoted to CFO at Aramark (NYSE: ARMK), effective Jan. 13. Tarangelo will succeed the current CFO, Tom Ondrof, who plans to retire on Jan. 12, at which time he will serve as a strategic advisor through May 2024. Tarangelo is currently SVP of finance and treasurer.

Jawad Ahsan, CFO and principal accounting officer at Offerpad Solutions (NYSE: OPAD), a real-estate platform, will depart the company, effectively immediately, according to a regulatory filing. James Grout, SVP of finance, will serve as principal financial officer on an interim basis.

Eric J. Guerin was named CFO at RB Global, Inc. (NYSE: RBA), an omnichannel marketplace for commercial assets and vehicles, effective Jan. 15. Guerin most recently served as the CFO of Veritiv Corporation, until its acquisition in November.

Big deal

Retail investors sold more than a net of $23.63 billion in stocks in November, the largest monthly outflow for the group since the end of 2021, S&P Global Market Intelligence research found. Through November, retail investors have sold $58.29 billion worth of equities so far in 2023.

Going deeper

Here are a few Coins2Day weekend reads:

"With interest rate hikes in Jerome Powell’s rearview mirror, Wall Street starts a new guessing game: Timing when the Fed will cut" by Will Daniel

"Delta CEO says fears business travel has died are greatly overstated—hybrid workers are just shifting the data" by Orianna Rosa Royle

"Box CEO Aaron Levie’s top takeaway from OpenAI meltdown: ‘Don’t have weird corporate structures’" by Kylie Robison

"The happiest employees take this many days of PTO. But a vast majority of workers still feel guilty taking vacation" by Alexa Mikhail

Overheard

"Whether we seek it out or not, AI is destined to play an increasingly prominent role in each of our lives in the years ahead, redefining the ways we work, play, learn, communicate, and more. And since we all have a stake in how this powerful technology grows, it is essential that AI’s evolution is guided by shared principles, not personalities."

—Darío Gil, IBM’s SVP and director of research, wrote in a Coins2Day opinion piece regarding the goal of the AI Alliance, a global network of innovators.