Trends
Nadel Phelan continuously curates insightful industry trends. To receive our monthly trend report, click here.
Digital Adoption • March 2024
The state of digital in 2024
Data from the United Nations World Population Prospects shows that there are now 8.08 billion people living on Earth. The global population has increased by 74 million people since this time last year, equating to year-on-year growth of 0.9 percent.
More than 66 percent of all the people on Earth now use the internet, with the latest data putting the global user total at 5.35 billion. Internet users have grown by 1.8 percent over the past 12 months, thanks to 97 million new users since the start of 2023. 62.3 percent of the world’s population uses social media. The global total has increased by 266 million over the past year, resulting in annual growth of 5.6 percent.
AI • March 2024
Market Research is ripe for innovation
Recent advances in artificial intelligence (AI) have changed how research teams conduct market research. When it comes to understanding how to apply AI to their research activities:
– 26% say they feel “extremely confident”
– 46% say “very confident”
– 19% say somewhat confident
– 7% say they are “not very confident” or “not at all confident”
That comfort level has enabled research teams to infuse AI and machine learning into numerous aspects of their work, like task automation and using AI to quickly process qualitative insights from research like survey responses, focus group transcripts, and more, faster than human analysis ever could.
AI • March 2024
Top 10 Insights From Forrester’s State of Generative AI in 2024 Report
Over 90% of enterprise AI decision-makers have concrete plans to adopt generative AI (gen AI) for internal and customer-facing use cases. Nearly half, 47%, say productivity gains are the primary goal. Those anticipated gains are closely followed by greater innovation (44%) and cost efficiency (41%). One in three, or 34%, expect AI to deliver greater revenue growth.
Productivity gains are happening faster than enterprises can track because Shadow AI is growing quicker than many IT and security teams anticipated. OpenAI says their enterprise adoption is soaring, with over 80% of Fortune 500 companies’ workers and departments having accounts.
Energy • March 2024
Carbon removal sector buoyed by strong growth in corporate demand
Corporate demand for “durable” offsets has carbon removal advocates optimistic that pulling CO2 from the sky will get cheaper. Purchases of CDR credits grew from about 615,000 metric tons’ worth in 2022 to more than seven times that amount in 2023, according to industry tracker CDR.fyi. Each credit represents the capture and storage of CO2 for at least 100 years.
AI • March 2024
Generative AI – top use case is data analysis and prediction
While (60%) of respondents report that their organizations use generative AI solutions beyond ChatGPT for specific applications, only 12% say they use the technology extensively, while 48% use it to a limited extent. Top use cases identified by tech leaders who use generative AI beyond ChatGPT are (56%) data analysis and prediction and (53%) marketing and advertising. About one-third say they are using it for operations and logistics (34%), research and development (32%), or fraud detection and cybersecurity (30%).
AI • March 2024
IDC Forecasts Artificial Intelligence PCs to Account for Nearly 60% of All PC Shipments by 2027
While shipments of hardware-enabled AI PCs will ramp up quickly over the next two years, next-generation AI PCs are forecast to dominate the market by the end of the forecast. IDC believes shipments of Next-generation AI PCs will be double that of hardware-enabled AI PCs by 2027. Many of these AI PCs will be sold to commercial buyers, but consumers will have much to look forward to in the coming AI PC age, including potential improvements in PC gaming and digital content creation.
2024 Calendar
Welcome 2024!
Two years ago, I ventured into the realms of quantum computing and artificial intelligence. Today, as we step into 2024, I find myself deeply immersed in the development of two AI applications, as well as, relaunching Nadel Phelan as a premier agency providing global support.
Having witnessed the tech industry’s evolution first hand, I recognize AI as a significant tectonic shift which will introduce changes we have not yet begun to fathom. Blockchain technology may have a significant impact on business as usual, but it is eclipsed by the sheer magnitude of AI. No one claims to know where or what AI will become in our lives, but everyone agrees that its potential is boundless. It is constantly evolving and those of us who work with it daily can attest that there are no limits to AI, except those of our imagination.
In this new year, I look forward to continuing this amazing journey with all of you, as we explore the uncharted territories of AI and quantum computing together. Here’s to a year of innovation, discovery, and a true paradigm shift.