10 Takeaways from the 2024 BGV Summit: Advancing Human Centric Design

#1. We are in the early stages of AI adoption, a transformative shift that could surpass the impact of previous revolutionary technologies (or GPTs – general- purpose technologies). It’s an exciting time to witness this evolution.

#2. AI is unlikely to fully replace human workers but will augment them. Jobs are made up of various tasks, and AI automates only some of those, allowing workers to focus on the more “human” aspects. High-income employees are the most impacted, while junior employees experience the greatest productivity boost.

#3. ROI remains the top priority for enterprises. CXOs must navigate the hype, establish roadmaps and KPIs for AI adoption, and evaluate technology independently from vendors post-deployment. Only a fraction of POCs turn into long-term deployments, so entrepreneurs should build ROI-driven sales from day one.

#4. The next frontier is developing AI agents capable of reasoning and decision-making.

#5. AI services present another major opportunity, especially in traditionally slow-to-adapt industries where incumbents are unlikely to build solutions in-house. New pricing models, including outcome-based or token-based models, are emerging.

#6. Privacy and trust remain critical for enterprises, but the conversation is maturing, with the adoption of new techniques, regulations, and frameworks. As AI systems improve, their accuracy will surpass human performance, gradually expanding to more complex use cases.

#7. Market shifts are likely, with advances in foundational models and increased adoption of smaller models. Open-source models are driving competition and innovation. In the long run, a few key players will dominate infrastructure, while most value will be created in the application layer. Infrastructure investment is massive, but as with past technological shifts, there will be long-term winners and losers, so now is the time for investors to place strategic bets.

#8. Building a technical moat is challenging due to low costs and low barriers to entry, but businesses can scale by leveraging advantages in distribution, data, or workflow integration.

#9. To advance AI technology safely at this pace, we need a multi-stakeholder dialogue involving tech leaders, researchers, startups, and governments.

#10. Compared to last year, optimism around AI has grown, and the market outlook is improving. Over the next year, we’ll see increased enterprise adoption, and some potential winners will begin to emerge.

Many thanks to our honored guests and speakers who shared their expertise and perspective with us: