Artificial intelligence for business: a year in review

According to a recent PwC study, over half of people believe the biggest change in the way we work in the next five to ten years will come from technological breakthroughs, ranking it above climate change.

AI is likely to be a key driver of this change. With just five per cent of British adults not being familiar with AI, its use in daily life is widespread, from smart homes and streaming recommendations to fraud prevention and facial recognition.

For business owners to confidently embrace AI, it is important to understand how the landscape is evolving, as well as the opportunities and risks AI presents.

One the most important business AI developments of 2023 was the rollout of generative AI tools, which can produce content such as text and images based on a user-inputted prompt.

Since OpenAI released text-based ChatGPT at the end of 2022, many tech giants have raced to release their own generative products. These include Amazon’s Q, which is described as a ‘business expert’ that can access internal company documents, such as style guides, to produce content and solve problems. Google also recently launched its Gemini model, which learns from audio, video and image data, with applications for the technology ranging from mobile devices to data centres.

In 2024, businesses will almost certainly continue embracing generative AI tools, with a McKinsey study suggesting they could add up to $4.4 trillion to the global economy by increasing productivity in sectors such as sales, marketing and software development.

 

Cybersecurity challenges

While growth in generative AI offers businesses many exciting opportunities, it has also brought some cybersecurity concerns. As generative AI is still a relatively new field, many tools have teething issues that can have a detrimental impact on businesses using them.

For example, it has been reported that Amazon Q has leaked internal data about the location of Amazon data centres. Additionally, AI is being used by cyber criminals to automate attacks, develop malware faster and to create deepfake phishing scams. These techniques are being used to target businesses, with mobile devices such as handsets and tablets being a particular target due to the mixing of personal and corporate data with insufficient security measures.

Recent data shows 53 per cent of organisations currently view cybersecurity as a key generative AI-related risk, but only 38 per cent of organisations are actively trying to mitigate the issue. In 2024, as the use of AI further increases and the risks are better understood, we are likely to see a more considered approach to protecting against these threats.

An excellent way to ensure mobile devices remain secure is with a mobile device management (MDM) system. MDMs protect mobile devices from malware and viruses by monitoring installed software to make sure it meets security standards. They can also be used to locate lost or stolen devices and wipe them of company data if recovery is not possible.

Crystaline offers three reliable , allowing businesses to manage all company devices, regardless of service provider.

As we head into 2024, the opportunities provided by generative AI will continue to grow. Keeping up to date with the AI landscape throughout the year and investing in appropriate cybersecurity measures allows business owners to ensure new breakthroughs help their business rather than harming it.

To discover how Crystaline can meet the cybersecurity needs of your business, with our expert team.