Our message to clients for 2024 is simple: Don’t wait.
Generative AI is, in Forrester’s estimation, the most impactful technological advancement since the internet. The initial hype is waning. A more practical phase is beginning. Unsurprisingly, genAI is a common thread throughout our predictions for 2024. Prioritize experimentation with genAI now. If you haven’t started moving, then you’re already behind. In 2024, perfect will be the enemy of good.
Drawing from this lightning-strike moment of innovation, the theme for Forrester’s Predictions 2024 is “Exploration generates progress.” We encourage business leaders to approach genAI from multiple points of entry. Don’t put all your eggs in one use case. Instead, experiment — and as with most experiments, some will work out and some won’t. That’s alright in these early stages. Each scrapped plan paves the way to success.
Generative AI will be a change agent for all business functions and industries. B2B organizations will use it to guide product launches. Ad agencies will use it to unlock creativity at scale. Up-leveled contact centers will deliver better results for customers and customer service agents alike.
But genAI is far from the only dynamic that will shape 2024. The macroeconomic picture remains cloudy, especially for Europe, where only marginal GDP growth is expected. 2024 will be rife with political division and moments of acute social tension around high-stakes elections. Regulatory developments will reshape how marketers do business and put a stronger spotlight on environmental sustainability. Employee engagement is poised to slump as an “employee experience winter” freezes investments.
While you must contend with these dynamics and risks, don’t let them obscure the exciting new opportunities coming your way. It’s time to think big and move fast. 2024 will redefine business as we know it.
Clients can explore our full suite of Predictions 2024 reports, which will continue publishing through November 1, 2023. If you aren’t yet a client, download our complimentary Predictions 2024 guide and sign up for the accompanying webinar, which features a live Q&A with the analysts behind key predictions.