“In like a lion, out like a lamb” is an accurate description of 2023. It was a challenging start to the year with multiple bank failures, ongoing tech sector layoffs, and the emergence of corporate austerity measures. However, by the spring of 2023, inflation had eased; GDP growth had returned; and innovation had started to offer organisations renewed optimism. Indeed, 2023 saw increased investment in what we’re calling the biggest technology and business change of our lifetime – generative AI (genAI).
In 2024, there will be a continued focus on innovation as more businesses embrace rapid experimentation and launch new genAI initiatives. However, it will be crucial for organisations to safely transition from experimentation to implementation of new AI-based technologies. According to Forrester’s 2023 data, 53% of AI decision-makers whose organisations have made policy changes regarding genAI are evolving their AI governance programmes to support AI use cases. As such, security, risk, and privacy leaders will need to balance the speed of innovation with governance and accountability beyond regulatory mandates amidst a backdrop of interconnected risks.
