News Release Details

CAMBRIDGE, Mass.--(BUSINESS WIRE)--Oct. 24, 2023-- According to Forrester’s (Nasdaq: FORR) 2024 predictions, released today, 60% of generative AI skeptics will use and value the emerging technology in 2024, whether they realize it or not. Consumers who are genAI skeptics will embrace the technology for tasks that enhance creativity and productivity, including seeking support from conversational assistants and translating and summarizing content. Additionally, business, technology, and marketing leaders’ investment in genAI in the year ahead will augment employees’ creative problem-solving time by up to 50% — driving customer-centric innovation and creating greater business value.

Forrester’s predictions analyze the dynamics and trends across different topics and industries, including technology and innovation; B2B marketing, sales, and product; artificial intelligence and automation; customer experience (CX); and the future of work. These insights help leaders see around the corner and gain a competitive edge to thrive in the year ahead.

Highlights from Forrester’s 2024 predictions include:

• CX will improve for the first time in years — thanks to genAI. The key to CX improvements in 2024 will be behind-the-scenes genAI that helps customer service agents answer questions faster and better and resolve CX issues on first contact, leaving customers feeling heard.

• Agencies will invest in custom AI solutions for enterprise clients. In 2024, the top 10 advertising agencies will spend a combined $50 million in partnerships to build custom AI solutions that enable their clients to scale personalized marketing campaigns and brand experiences.

• Clouds will launch prompt engineering services — to no avail. Cloud hyperscalers will announce either a preview or the general availability of prompt engineering, the process of structuring text so that it can be understood by a genAI model. Enterprise adoption, however, will be limited: 80% of enterprises will add prompt engineering talent internally to drive model grounding and value delivery.

• Regulators will have genAI in their sights. An app using ChatGPT will be fined for how it handles personally identifiable information (PII). Companies will need to identify apps that increase their risk exposure while also increasing investments in third-party risk management.

• Generational differences will alter B2B buying preferences. Millennial buyers make up 75% of business buying teams. In 2024, 40% of these buyers will demand early access to B2B product experts. When engaged in face-to-face buying, these buyers find personal interactions with product experts more meaningful than all other in-person activities.

• An “EX winter” will freeze employee experience investments. Many teams that drive employee experience (EX) will suffer from a lack of funding in 2024. For example, the percentage of companies that fund a diversity, equity, and inclusion (DEI) function will fall to 20%. Instead, many companies will prioritize spending that makes HR functions efficient over improving EX outcomes.

“Generative AI’s influence is dominating all aspects of business and consumers’ lives,” said Sharyn Leaver, chief research officer at Forrester. “Despite some risks, genAI will serve as the fulcrum that businesses rely on to enhance, empower, and engage employees and customers. In the year ahead, successful leaders will be the ones who embrace genAI and experiment further with this technology to both improve customer experiences and accelerate business growth.”

Resources:

• Download Forrester’s 2024 Predictions guide and register to attend Forrester’s accompanying webinar, both covering big-impact predictions for the coming year.
• Learn more about Forrester’s predictions and how genAI will be a business game-changer in 2024.
• Visit Forrester’s 2024 Predictions hub to uncover additional complimentary resources.
• Explore Forrester Decisions to uncover research, models, frameworks, and hands-on guidance to execute critical business priorities.

About Forrester

Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 100 million real-time feedback votes; and the shared wisdom of our clients.

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Ira Kantor
ikantor@forrester.com

Source: Forrester