12/19/2024 | Press release | Distributed by Public on 12/18/2024 08:52
December 19, 2024
From industries under pressure to hot growth regions to workforce trends, our experts weigh in.
Over the past year, AI has dominated investment dollars and enterprise innovation. The global AI market's projected growth to $827 billion by 2030 shows this likely won't slow down anytime soon and will continue to steer business plans and talent strategies in the year ahead.
In this blog, Cognizant's leaders weigh in on the trends that will define 2025-from generative AI's impact across businesses and industries, to how skilling and hiring will continue to evolve in the AI era.
Businesses are struggling with how and where to apply AI to solve business problems, and that's why we've seen most AI use cases limited to prediction-based outcomes or single LLM chat-based solutions. But enterprises are moving quickly from embracing single- to multi-agent architectures, and these systems are transforming how businesses break down siloes, make better decisions, and drive new revenue streams.
In the year ahead, more AI business strategies will prioritize people at their cores. According to Cognizant research, there's a growing desire to value and redevelop existing talent. Nearly half (44%) of business leaders prefer to reassign employees within their organizations, and HR will play an essential role in this.
Cognizant's research shows that marketing is on the leading edge of generative AI investment, outpaced only by IT. These teams possess inherent creative and analytical skillsets that make them the natural scientists of the corporate suite. Generative AI will power more personalization and content creation -both verbal and visual-enhancing productivity and unlocking creativity across marketing. It's also allowing marketers to bridge previously disconnected data sets to surface insights.
Generative AI is here to stay, and CIOs must be engaged in preparing their organizations for success. In the year ahead, CIOs will continue prioritizing digital investments to help drive growth and strategic efficiencies.
The rise of AI necessitates a strong focus on ethical considerations and regulatory compliance. Addressing algorithmic bias, ensuring data privacy, and promoting transparency are all crucial for financial services firms, especially as complex multi-agent systems become more prevalent. With evolving regulations, financial firms will increasingly need to document the entire lifecycle of their AI models, including data provenance, to identify biases and details of the training and decision-making processes.
In the coming year, generative AI will continue to accelerate drug discovery, significantly transforming the life sciences landscape. By streamlining research and development, generative AI enables researchers to synthesize vast literature quickly, significantly cutting research time. Automating clinical trial protocol writing reduces the time required for compliance, speeding up patient access to new treatments.
The use of AI solutions requires increasingly powerful data centers that consume more energy and water and will require businesses to increasingly turn to AI itself to address the environmental challenges it creates. But with this acceleration, disclosure and transparency are going to be high on the sustainability agenda for many companies, particularly in the EU, as regulations demand much more reporting of data on sustainability management and performance.
In 2025, companies will leverage the productivity gains that gen AI delivers in this economically favorable environment, driving significant growth and innovation. One key way this will happen is by companies expanding their operating presence in countries like the Philippines, Vietnam, Thailand, and China, which are rapidly emerging as key labor frontiers in strategic technology and research and development, as well as operational outsourcing and automation.
CTO, AI
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Chief People Officer, Cognizant
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Interim CMO and SVP, Global Marketing
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Chief Information Officer, Cognizant
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Senior Vice President, Banking & Financial Services Head
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Chief Medical Officer, Cognizant
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Chief Environment Officer, Cognizant
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Head of Cognizant Asia Pacific and Japan
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