• About us
  • Raising the Bar
  • Raising your Game
  • The Extra G - Geopolitical
  • Risk Matters - Roundtables
  • Leadership Team
  • Events
  • Blog
  • Contact
  • Menu

The Risk Coalition

  • About us
  • Raising the Bar
  • Raising your Game
  • The Extra G - Geopolitical
  • Risk Matters - Roundtables
  • Leadership Team
  • Events
  • Blog
  • Contact

Three exciting new developments for AI in 2024 that you need to know about

May 28, 2024

Robotics and artificial intelligence have been in the public consciousness for decades, but only in recent years have we really started to comprehend the technology’s sheer potential. AI is no longer an exclusive innovation reserved for the biggest conglomerates or most cutting-edge tech firms – every business, however large or small, has the chance to leverage AI to keep up with the competition. From helping us to make more informed decisions to improving operational efficiency, AI’s existing applications provide plenty of cause for optimism.

We’re noticing a growing influence on various industries, and three in particular stand out as potentially being the next in line to fully embrace the AI revolution. Here are some of the key developments to watch out for in different sectors this year.

AI in healthcare

In such a high-stakes industry, it’s to be expected that the rise in AI will be met with a certain level of resistance. However, despite concerns about patient privacy and losing the doctor-patient relationship, the majority of doctors asked in one survey (61%) believe the technology will support better clinical outcomes, while an even larger proportion (72%) are excited about AI’s ability to improve diagnoses.

In so many ways, AI has the potential to revolutionise patient care, helping to engender more positive outcomes across the sector. We’ve already become accustomed to utilising AI to support our everyday healthcare needs. For example, wearable fitness trackers and personalised analytics offer us improved access to information that helps us to better control and understand our health outcomes.

In 2024 and beyond, we can expect AI to go further in providing more tangible medical solutions, rather than simply facilitating the platforms and programs that help us manage everyday fitness and health. This will largely be achieved through AI-driven predictive analytics that can be used to improve both diagnoses and treatment plans, making it a highly personalised experience based on individual patient data.

AI in environmental sustainability

As the population grows increasingly conscious of the environmental threats facing the planet, AI-powered solutions are providing plenty of encouragement. For many years, AI has had various uses in the sector, including helping us to predict extreme weather events. In 2024, we’re likely to see the latest advancements truly transform environmental conservation.

For example, AI programs are being trained to accurately analyse satellite images and notice any changes in the size or shape of icebergs; it’s believed that the technology can complete the process 10,000 times faster than a human could. In addition, we’re seeing AI play a pivotal role in revolutionising recycling processes and waste management systems. Advanced AI algorithms are enhancing the efficiency of waste sorting by identifying and categorising different types of materials with incredible accuracy. By integrating AI into these systems, we’re not only improving recycling rates but also contributing to a circular economy where waste is minimised, and resources are reused more efficiently.

However, AI’s use in this particular field does present certain challenges. For example, there are concerns that the carbon footprint of the technology, which relies on huge data centres that run around the clock, could mitigate some of the positive impacts it’s having on the environment. But, as the technology becomes more sophisticated, we can expect AI to become more energy efficient, ensuring it can have an even more positive impact on the planet. It’s clear that not only can AI help us to understand climate change, but it also has a big part to play in combating it.

AI and cybersecurity

AI is poised to significantly enhance the ability to detect, prevent, and respond to cyber threats. AI-driven systems can leverage machine learning algorithms to analyse vast amounts of data in real time, identifying patterns and anomalies that may indicate potential security breaches far faster than human analysts could. This allows for proactive threat detection, enabling businesses and individuals to address vulnerabilities before they can be exploited.

Additionally, AI can automate routine security tasks such as threat hunting, incident response, and patch management, freeing up staff to focus on more complex issues. As cyber threats become increasingly sophisticated, AI's ability to adapt and learn from new attack vectors will be crucial in maintaining robust defences.

Moreover, AI can facilitate personalised security measures by continuously assessing user behaviour and adjusting protections accordingly. With the integration of advanced AI tools, the future of cybersecurity will be marked by greater resilience, reduced risk of breaches, and enhanced protection of sensitive information.

Stay up to date

Staying updated with the latest developments helps us to better understand and harness the vast capabilities of artificial intelligence. In what is such a dynamic field, we’re likely to see new technologies constantly enter the market to augment traditional processes in various sectors.

 

Craig Morris is a business consultant and freelance blogger. His expertise lies in leveraging technology to promote business growth, and he’s particularly passionate about making AI accessible to everyone by helping to bridge the knowledge gap.

Tags: Craig Morris, Mia Harris
Prev / Next

Blog

Featured
Apr 15, 2025
Vera Cherepanova
The future of ESG: navigating a fragmented landscape
Apr 15, 2025
Vera Cherepanova
Apr 15, 2025
Vera Cherepanova
Mar 6, 2025
Mo Warsame, Gavin Hayes
Internal audit and risk management must work together to navigate uncertainty
Mar 6, 2025
Mo Warsame, Gavin Hayes
Mar 6, 2025
Mo Warsame, Gavin Hayes
Sep 4, 2024
Polly Williams, Mia Harris
Three key threats of phishing to be aware of
Sep 4, 2024
Polly Williams, Mia Harris
Sep 4, 2024
Polly Williams, Mia Harris
Aug 25, 2024
Felix Ritchie
Principles versus rules in data and corporate governance
Aug 25, 2024
Felix Ritchie
Aug 25, 2024
Felix Ritchie
Jul 16, 2024
Jane Hunter, Mia Harris
How can you maintain high standards in your business without suffering burnout?
Jul 16, 2024
Jane Hunter, Mia Harris
Jul 16, 2024
Jane Hunter, Mia Harris
Jun 2, 2024
Afshan Moeed
Enforcement of individual accountability in UK banking: a new boardroom recipe for change or continuity?
Jun 2, 2024
Afshan Moeed
Jun 2, 2024
Afshan Moeed
May 28, 2024
Craig Morris, Mia Harris
Three exciting new developments for AI in 2024 that you need to know about
May 28, 2024
Craig Morris, Mia Harris
May 28, 2024
Craig Morris, Mia Harris
May 24, 2024
Stefan Hunziker
The stuff of nightmares: risk management is shut down, and nobody notices
May 24, 2024
Stefan Hunziker
May 24, 2024
Stefan Hunziker
Mar 20, 2024
Neil Tinegate
What should boards know about digital technology?
Mar 20, 2024
Neil Tinegate
Mar 20, 2024
Neil Tinegate
Mar 15, 2024
Francis Kean
The insolvency risk for company directors - are you swimming naked?
Mar 15, 2024
Francis Kean
Mar 15, 2024
Francis Kean
Feb 29, 2024
Andy Watkins-Child
Are you sitting comfortably?  Cyber risk, board attestations and the implications for NEDs
Feb 29, 2024
Andy Watkins-Child
Feb 29, 2024
Andy Watkins-Child
Oct 24, 2023
Mamun Madaser
Risk management and internal audit should collaborate to navigate the poly-crisis of risk
Oct 24, 2023
Mamun Madaser
Oct 24, 2023
Mamun Madaser
Oct 18, 2023
Jim Watson
How to mitigate the risk of cyber security breaches – part 2
Oct 18, 2023
Jim Watson
Oct 18, 2023
Jim Watson
Oct 13, 2023
Nisha Sanghani
Risk management and internal controls: much (needed) work to do as a result of the proposed changes to the UK Corporate Governance Code
Oct 13, 2023
Nisha Sanghani
Oct 13, 2023
Nisha Sanghani
Oct 9, 2023
Jim Watson
How to mitigate the risk of cyber security breaches – part 1
Oct 9, 2023
Jim Watson
Oct 9, 2023
Jim Watson