Forrester’s Predictions 2024: Fifty Percent Of Large European Firms Will Proactively Invest In AI Compliance
According to Forrester’s (Nasdaq: FORR) 2024 predictions, released today, in anticipation of the European Union AI Act going into enforcement in 2025, 50% of large firms in the region will proactively invest in AI compliance. Before the Act is implemented, European firms will need to define their AI compliance strategy, including acquiring new technology and talent to securing the third-party support they need. Additionally, as misinformation fuelled by AI-generated images, deepfakes, and faux human influencers rises — 81% of online adults in the US, UK, Spain, and Italy agree that there is a lot of fake news and misinformation on social media — news outlets like the BBC will become coveted sources of information.
Forrester’s predictions analyse the dynamics and trends across different topics and industries, including technology and innovation; B2B marketing, sales, and product; AI and automation, customer experience (CX), and the future of work. These insights help leaders gain a competitive edge to thrive in the year ahead.
Highlights from Forrester’s 2024 predictions include:
- CX will improve for the first time in years — thanks to generative AI. The key to CX improvements in 2024 will be behind-the-scenes genAI that helps customer service agents answer questions faster and better, resolve CX issues on first contact, and leave customers feeling heard.
- Clouds will launch prompt engineering services — to no avail.Cloud hyperscalers will announce either a preview or the general availability of prompt engineering, the process of structuring text so that it can be understood by a genAI model. Enterprise adoption, however, will be limited.
- Enterprise AI initiatives will boost productivity and creative problem-solving by 50% in the year ahead. Generative AI is poised to increase productivity across all IT roles — not just among developers. Additionally, business, technology, and marketing leaders’ investment in genAI in the year ahead will augment employees’ creative problem-solving time by up to 50% — driving customer-centric innovation and creating greater business value.
- Generational differences will alter B2B buying preferences. Millennial buyers make up 75% of business buying teams. In 2023, 40% of these buyers will demand early access to B2B product experts. When engaged in face-to-face buying, these buyers find personal interactions with product experts more meaningful than all other in-person activities.
- Europe will lead hybrid work adoption. Forrester predicts that Europe will outpace the US in flexible working in 2024, with 40% of Europeans working remotely at least some of thetime.The Netherlands leads the continent in its support for flexible working, with 74% of workers allowed to work remotely in 2023. And only 11% of European business leaders expect employees to return to the office full-time.
“While genAI applications are still emerging, enterprises can no longer ignore or downplay its impact,” said Laura Koetzle, VP, group director at Forrester. “Given the risks associated with the technology, European firms will take proactive measures to stay compliant and explore genAI use cases to enhance, empower, and engage employees and customers.”
- Download Forrester’s 2024 Predictions guide, covering big-impact predictions for the coming year.
- Learn more about Forrester’s predictions and how genAI will be a game changer for businesses in 2024.
- Visit Forrester’s 2024 Predictions hub to uncover additional resources.
- Explore Forrester Decisions to uncover research, models, frameworks, and hands-on guidance to execute critical business priorities.
Forrester (Nasdaq: FORR) is one of the most influential research and advisory firms in the world. We help leaders across technology, customer experience, digital, marketing, sales, and product functions use customer obsession to accelerate growth. Through Forrester’s proprietary research, consulting, and events, leaders from around the globe are empowered to be bold at work — to navigate change and put their customers at the center of their leadership, strategy, and operations. Our unique insights are grounded in annual surveys of more than 700,000 consumers, business leaders, and technology leaders worldwide; rigorous and objective research methodologies, including Forrester Wave™ evaluations; 100 million real-time feedback votes; and the shared wisdom of our clients.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
PR Manager, EMEA
direct +44 20 7323 7602 | mobile +44 7977 828017 | email@example.com
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Lenovo’s New All-in-One, AI-Powered Solution with Microsoft Simplifies Security and Removes the Need for Multiple Vendors6.12.2023 12:00:00 CET | Press release
Lenovo and Microsoft are working together to help organizations operate more securely across their devices, users, apps, data, networks, and cloud services through a subscription-based Cyber Resiliency as a Service (CRaaS) offering. The offering enables Lenovo to build next generation security solutions and services directly on Microsoft technology including Microsoft Azure, Microsoft Defender, and Microsoft Sentinel to simplify security deployments and enhance security posture to help prevent, detect, and recover from potentially disruptive cyber events. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231206935072/en/ Top Challenges Faced by CIOs (Graphic: Business Wire) CRaaS addresses growing security challenges for businesses of all sizes. Lenovo’s global annual survey of CIOs found that data privacy/security (68%) and cybersecurity/ransomware (68%) are the top two challenges businesses find most difficult to address.1 Wi
International Sustainable Forestry Coalition Welcomes New Member, Suzano6.12.2023 11:37:00 CET | Press release
In September a group of leading global sustainable forestry companies launched the International Sustainable Forestry Coalition (ISFC), to enable the sector to positively contribute to global policy processes focused on the transition from a fossil-based economy to a circular bioeconomy. Today the ISFC is delighted to announce that Suzano, one of the world’s major forestry sector companies, has become a member. Suzano, headquartered in Brazil, is a globally respected forestry sector leader. With almost a hundred years in operation, the company manages extensive sustainable timber plantation estates and forest conservation areas, and creates a vast range of fibre-based products. One out of every three tissue products used in the world today will have come from Suzano’s operations. Convening Chair of the ISFC Dr. David Brand said, “With the inclusion of Suzano in the ISFC, the group represents more than 12.6 million hectares (31 million acres) of forests for conservation and production i
Forrester: European Retail Sales To Reach €2.7 Trillion By 20286.12.2023 11:00:00 CET | Press release
Forrester (Nasdaq: FORR) forecasts that total retail sales of Europe-5 countries (France, Germany, Italy, Spain, and the UK) will increase from €2.3 trillion in 2023 to reach €2.7 trillion in 2028 at a 2.9% compound annual growth rate (CAGR). Forrester’s recently released report, Europe-5 Online Retail Forecast, 2023 To 2028, estimates total retail sales, online retail sales, and online retail penetration across 22 product categories, including fashion, homeware, food and drink, consumer electronics, and media, for each of the Europe-5 economies. Germany holds the largest share of the retail market among these five countries, followed (in order) by the UK and France. In 2022, offline retail growth outpaced online retail growth for the first time as more consumers shopped in stores, and this momentum continued into 2023, but the fundamental growth drivers of online retail such as greater product selection, round-the-clock availability, and competitive pricing remain strong. As a result,
Kaneka Acquires Japan Medical Device Technology6.12.2023 10:40:00 CET | Press release
Kaneka Corporation (Headquarters: Minato-ku, Tokyo; President: Minoru Tanaka)(TOKYO:4118) has acquired all shares of Japan Medical Device Technology Co., Ltd. (Headquarters: Kamimashiki-gun, Kumamoto; President: Shuzo Yamashita) (hereinafter JMDT), a developer and manufacturer of medical devices, on November 30, 2023, and made it a wholly owned subsidiary. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231206372197/en/ Stent before expansion (Photo: Business Wire) Kaneka manufactures and sells endovascular catheters, which are devices used in the treatment of cardiac, peripheral vascular, and cerebrovascular diseases. In particular, stenting*1 for the treatment of coronary artery diseases such as atherosclerosis has a market worth 30 billion yen in Japan, and Kaneka is aiming to expand its business in this area. JMDT has high technological capabilities in the research and development of coronary stents and is one of the lead
CommBox launches Era AI to enable customer service to be intelligently automated and CX costs to be cut by 40%6.12.2023 10:00:00 CET | Press release
Today CommBox, the pioneer in AI-powered customer communications, is launching its new generative AI solution. Designed for medium to large businesses across a range of industries including healthcare, banking, retail, telecommunications and insurance, Era AI is based on a winning combination of both proprietary technology developed by CommBox and commercial large language models. Era AI’s functionality scans enterprise knowledge sources and, in just seconds, provides customers with accurate, highly personalised information through the digital messaging channel of their choice. Era AI delivers customer service automation, reduces costs for organisations, and dramatically increases the speed and accuracy of enquiry handling. It does this all while increasing customer satisfaction, with CommBox customers seeing a 92% customer satisfaction rate on average. Central to this is Era AI’s ability to analyse a brand’s entire resource base, such as support articles, help and knowledge centres, a