Generative AI: Unprecedented adoption rates in 2024

By Alvin Toh, 

Generative AI was firmly at centre stage throughout 2023, as individuals and businesses across multiple sectors implemented tools such as ChatGPT to perform various tasks, like information processing and content generation, with astounding speed and time savings. In fact, our internal organisational study last year revealed that implementing Generative AI boosted productivity by a staggering 62 per cent across different departments, saving us 26 hours in a week.

Furthermore, a Gartner study conducted in the third quarter of 2023, which involved 1,400 executive leaders, revealed a sharp uptick in the adoption of Generative AI. The study found that 45 per cent were in piloting mode, and an additional 10 per cent had already deployed Generative AI solutions into production.

This marks a substantial increase from an earlier study in April 2023, where only 15 per cent of respondents were piloting Generative AI, and four per cent were in production. This clearly indicates that there is a growing trend towards an increased adoption of Generative AI technology.

Generative AI grabs simultaneous global regulatory attention

As AI permeates every industry, concerns about bias, privacy, and unintended consequences loom large. In keeping up with these developments and risks, companies and professionals must prioritise AI governance training even as they assess and develop Generative AI-enabled technologies. This allows them to appreciate the value of its use cases, assess the risks, and recommend appropriate constraints for the safe and responsible use of Generative AI.

Globally, regulatory bodies are taking proactive measures to address AI governance gaps. The immediate and widespread accessibility of this technology and the rate of it being embedded in daily use is unprecedented. ChatGPT alone reached 100 million users within months of its launch. Since then, there’s been an exponential increase in the introduction of large language models, with AI-embedded applications being launched daily. 

Furthermore, the EU’s forthcoming AI Act will set a global precedent when it comes into force within two years, while nations in ASEAN, like Malaysia and the Philippines, are crafting governance frameworks aligned with responsible AI principles. Meanwhile, Singapore has set itself as the frontrunner in AI adoption on the world stage, emphasising responsible governance through initiatives like the Model AI Governance Framework for Generative AI (MGF-GenAI). 

A new marketplace emerges

In 2024, Open AI’s Custom GPT Marketplace will further accelerate the use of Generative AI. Consequently, we will see increased instances of uploaded content being used with Generative AI, enabling GPTs to be customised in their knowledge and behaviour.

This, of course, will present challenges associated with the IP and copyright. Additional concerns about security and privacy have been raised on occasions where some of these new custom GPTs have been attacked with adversarial prompts that tricked the Custom GTPs’ prompts into leaking their instructions and even their uploaded files.

Companies hoping to cash in on this bandwagon of Custom GPTs, akin to the Apple App Store, should seek counsel from AI-informed or trained Data Governance Professionals for