4 Best AI Tools for Business in 2024

It’s the trend everyone’s talking about. And for good reason.

AI and data management solutions have become more comprehensive than ever, covering an array of applications for companies in the digital age. With over 50% of companies planning to implement AI tools for business in 2023 and over 30% already having some form of AI implemented, we’re looking at a whopping 80% of companies entering 2024 with the leveraging of AI tools on their agendas.

The question isn’t “Should you use AI for business?” but “What are the best AI tools for business?” More specifically, “Which are the best tools for your business?”

Let’s break things down and take a look at 4 promising AI tools for business that we believe will explode next year.

1. Data Compliance AI Toolsets for Business

Data compliance toolsets are quickly becoming one of the most valuable and exciting AI business tools to look out for in 2024.

These toolkits are designed to provide organizations with automated support to keep up with the latest data protection regulations. As a company concerned with the privacy of its customers and users (which we’re sure you are!), this toolset is vital for protecting them.

Remember that the data privacy ramifications of generative AI solutions for business will continue to emerge over the coming years. Without a clear and concise strategy that focuses on privacy in the constantly developing landscape, you will put both your company’s reputation and profitability at risk.

Here are some examples of the risks that generative AI poses to data privacy:

As you can see, there are plenty of challenges associated with generative AI and data compliance.

Thankfully, AI-powered data compliance toolsets present an all-in-one solution and provide your organization with an automated, effortless, and streamlined compliance platform. These AI business tools can help you manage ever-evolving compliance frameworks, stay ahead of potential security challenges, and make sure your company remains adherent at all times.

2. GenAI tools for Marketing

63% of marketers have experimented with ChatGPT and experienced the wonders it can produce for content creation — and that number is expected to continue growing next year (and for years to come).

Rather than looking at AI as the thing that will eventually take over all marketing jobs and render marketers obsolete, leaders need to view it as a companion, a way to streamline and continuously bolster their strategic prowess. In other words, we must look ahead at what the future holds and consider the various ways we can utilize ChatGPT and other amazing AI business tools in our marketing plans.

GenAI tools might just be the answer.

Like ChatGPT, GenAI’s most currently used application is content creation. However, the tool also has the capacity to become a strategy-focused, end-to-end marketing toolset.

According to Boston Consulting Group’s April 2023 survey, 62% of organizations are already exploring the use of GenAI to analyze customer data and create more personalized experiences for their customers. This is just the first step, though.

Marketers also need to lean into the other customized offerings GenAI plug-ins can produce. For example, these plug-ins can yield insights by analyzing patterns and mimicking style and structure, giving marketers the ability to personalize customer interactions even further.

Despite the consistent and radical evolution of the customer journey in recent years, it still remains the key to every modern marketing strategy. Recognizing new and existing patterns of behavior remains at the heart of a powerful strategy.

With GenAI’s incredible ability to identify and grasp these patterns of behavior and quickly generate new personas, it will undoubtedly secure itself a significant role in 2024 marketing plans and will be a clear advantage to marketers.

In preparation for 2024, it would be wise for every marketing department to budget for and plan to implement GenAI business tools and its plug-ins into their marketing strategies. The organizations that gain the upper hand will be those using this tool and seamlessly integrating it alongside their human touch.

3. Advanced Analytics Tools

Data analysis might be tedious and time-consuming, but it’s also extremely valuable. That’s why AI data analysis is so beneficial. AI data analysis involves using artificial intelligence algorithms to extract, analyze, and interpret meaningful insights and patterns from incredibly large and complex datasets.

The advanced analytics tools of today use machine learning and deep learning to automate these processes in a far more efficient and cost-effective manner than ever before. Many don’t even require any coding knowledge.

Thanks to the latest AI-powered data analytics tools, professionals and smaller organizations with a limited background in the field can leverage data analysis and convert masses of raw data into easy-to-understand visualizations. They can then use those visualizations to derive insights and propel their businesses to achieve their unique goals.

By leveraging these AI business tools, you will allow your data analysts to do the following:

Data analysis is a fundamental core function for any data-driven organization. In today’s day and age, one could argue that almost all organizations are data-driven.

With the endless heaps of data that stack up on a daily basis, these AI analytical tools can empower your company by providing insights that can improve business processes, help you identify valuable customer insights, and make more informed predictions.

It doesn’t matter if you want to follow the “no coding needed” approach, or if you prefer more personalized and technical toolsets. Advanced AI analytical tools for business are an absolute must in the digital climate that awaits us in 2024.

4. Digital Twin Tools for Business

In recent years, augmented reality and virtual reality have both boomed in popularity. As a result, we have found ourselves more and more integrated with our so-called “digital self.”

Across all industries, the concept of the digital twin has grown more common. What is it, though?

Essentially, a digital twin tool is an AI tool that creates a virtual representation of real-world systems, objects, and processes. These representations can range from simple virtual recreations of individual components to cloned real-life personalities to complex ecosystems.

The possibilities are endless, but the question is, “How can digital twin technology be utilized to facilitate efficiency and growth within an organization?”

Here are examples of applications for digital twin AI business tools:

• Recreating products and monitoring them as if they’re being used in real-time by customers
• Optimizing manufacturing processes
• Troubleshooting equipment remotely

And here are some benefits of digital twin technology:

• Improved productivity
• Improved marketplace reputation and product availability
• Predict and prevent maintenance issues before they arise (internally and externally)

With this AI tool for business, the possibilities are truly endless. As with all AI tools, the earlier an organization can familiarize itself with it, the larger its competitive advantage becomes — and the more seamlessly integrated it will be with its workforce and overall strategy.

Looking to Leverage AI Tools for Business? Choose Exadel as your Partner

As you’ve seen, 2024 will be an incredibly exciting time for AI tools for business.

The last few years has brought us incredible solutions like ChatGPT, which has completely reshaped the marketing climate and, more specifically, how we create various forms of content.

However, just like with ChatGPT, these huge AI business tool revolutions happen in what seems to be a blink of an eye.

For your business to remain competitive, you must remain open to these new technologies. Even if they may not seem to be useful at the time, you’ll find there are always tools out there that will benefit your organization in some way.

Do you want to stay up-to-date with all AI business news and be kept informed of the latest technological trends? If so, stay tuned with us here at Exadel.