The digital landscape anticipates a significant evolution as we get closer to bidding farewell to 2023. Freshworks' executive team, including CEO Girish Mathrubootham, CIO Prasad Ramakrishnan, and President Dennis Woodside, have shared their compelling insights and predictions for the forthcoming year, foreseeing a pivotal role for artificial intelligence (AI) and its transformative impact across industries.

Transformative Impact of Generative AI 

Girish Mathrubootham, CEO of Freshworks, envisions the upcoming year as a realm where generative AI unfurls unforeseen connections beyond human recognition. Reflecting on the potential of AI engines like Freddy AI, he projects a revolutionary wave, akin to the fintech boom in India, enabling wider access to life-altering opportunities. Mathrubootham foresees the democratisation of technology benefits, reminiscent of farmers empowered with real-time market insights in India's agricultural landscape. As the technical skill to engage with AI engines becomes more accessible, he predicts a widespread uptake, propelling individuals to harness its rewards, much like the surge witnessed in fintech adoption.

Beyond the AI hype cycle

Prasad Ramakrishnan, CIO at Freshworks, offers insights into AI's trajectory, forecasting its maturation beyond the hype cycle in 2024. He emphasises the necessity for CIOs to channel AI adoption towards meaningful use cases, moving away from superficial AI integrations. Ramakrishnan advises IT leaders to collaborate cross-functionally, understanding diverse operational facets to guide prudent decision-making. He underscores the imperative for relentless app rationalisation, accentuating the need for optimal tool usage and the streamlining of tech stacks for enhanced efficiency.

Rapid AI adoption for customer service

Dennis Woodside, President at Freshworks, foresees a notable shift in customer support strategies, with CEOs expecting AI deployment to enhance customer relationships and operational efficiencies. He highlights the burgeoning traction of gen AI tools in the enterprise and predicts rapid adoption within B2C businesses, aimed at bolstering agent productivity, enriching self-service, and managing unstructured data effectively. Woodside anticipates a surge in AI transparency, with companies distinctly identifying AI interactions for improved customer experiences. Moreover, he envisions government institutions competing to adopt gen AI to meet voter expectations, akin to the accountability faced by public companies towards customers and investors.

These predictions paint a vivid picture of AI's impending evolution and its multi-faceted impact on industries and consumer experiences. As we brace for the transformative year of 2024, the call for responsible AI deployment, cross-functional collaboration, and streamlined technology integration reverberates across business landscapes. The start of this new era signals a significant change, promising innovation, easier access, and improved customer focus enabled by the unprecedented capabilities of artificial intelligence.