IE wanted to know what software specialist OutSystems saw as being the key insurtech themes for next year. Here’s the word from Joe Ghattas, RVP UK at OutSystems;
Trend one: CIOs will need to be selective with generative AI adoption in 2024
The technology landscape has been rocked by generative AI this year. While natural language understanding has been around for decades, newly emerging generative AI tools awakened the world to the possibilities that it could bring to both businesses and individuals. This has put CIOs under huge pressure to stay on top of innovation and implement generative AI capabilities quickly, while also addressing the concerns, suspicions, and scepticism this technology has brought.
To drive adoption forward across the organisation, CIOs will need to hone in on why they are implementing generative AI, what its purpose is, and the value it brings to not only developers but to employees across the whole organisation. Many will try to boil the ocean and upskill their entire workforce on generative AI all at once. Yet, the reality is that CIOs and their businesses will benefit more from leveraging this technology strategically where it has the most potential to drive significant productivity gains and in ways that humans can understand, see, control, and trust.
Being selective and strategic of where the business leverages generative AI first will be key to winning trust in this technology, ensuring responsible implementation and enabling significant productivity gains that drive forward innovation.
Trend two: CIO priorities 2024 – Driving efficiency, innovation and agility
Businesses need to deliver frictionless customer experiences within budget, while keeping up with the pace of innovation and ensuring their teams are productive and agile. This won’t slow down. Over the next year, CIOs will have to continue to juggle and balance the three priorities. They will need to prioritise ways of democratising application development with the use of AI so their organisation can adapt to meet shifting customer expectations and business needs.
With the talent shortage frenzy showing no signs of slowing down, CIOs will need to empower business technologists with the right skills and tools. The combination of low-code and AI will bring new ways of problem-solving and fuel productivity within the organisation. CIOs will be able to increase AI usage at speed, they will have the ability to scale and a space to interact with LLMs (Large Language Models) without heavy training. One of the perks of an AI-enabled low-code environment is that the components are pre-built and ready to use, which minimises the potential for security problems and performance issues, and increases productivity, while also enabling businesses to create complex enterprise-grade applications.
Ultimately, the CIOs that prioritise digital transformation and agile practices, ensure developers have the right tools at the right time and embrace low-code solutions integrated with generative AI, will drive efficiency, innovation and agility within their organisations.
Trend three: “What developers need to know for 2024”
The increasing complexity and speed of software development over the past years has created a strong need for a change in the way software is built. While technologies like low-code have been boosting developer productivity for years, this year saw generative AI joining low-code as a key tool for enhancing developer experience, automating routine aspects and tackling the blank canvases of the developers’ world.
Throughout 2024, we will see many developers having to unlearn the default ways they’d traditionally been building software from scratch and make room for a new AI-assisted co-worker to enter their teams. More and more developers will engage in a conversation with their platforms and leverage generative AI to give suggestions and improve the user experience. Software teams will be able to start projects a lot faster, accomplish much more in less time and overcome barriers that previously caused projects to stall. This will continue to take away the burden of repetitive tasks, open new opportunities for those who are willing to learn and adapt and boost the overall job satisfaction in the industry.
As understanding around AI-assisted technology grows, the way developers perceive and handle AI will mature too. Fears around AI taking developers jobs will fade away and AI will be seen as a colleague who deserves trust but also requires robust control and security standards, especially for highly sensitive scenarios. This will drive the development and implementation of new regulation and standards that will streamline the use of AI and set the bar high for the market to push for a strategic, secure, and sustainable innovation.
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