AI has demonstrated immense potential as a driver of innovation in 2024 with unique use cases for diverse industries, impacting how businesses operate globally. Generative AI, in particular, is leading the way, unlocking unprecedented opportunities to solve complex challenges, accelerate decision-making, and create entirely new possibilities.
At Innover, we have worked with several enterprises in 2024 to have witnessed firsthand how AI-powered tools streamline workflows, optimize resources, and enhance decision-making processes within organizations. We have made significant investments in talent and AI training across key roles, ensuring we are strategically positioned to harness and lead the change.
With the Generative AI market expected to grow at a CAGR of approximately 40% from 2024 to 2030, businesses worldwide are scaling their AI investments to drive innovation and maintain competitive advantages. Research from ISG indicates that spending on Generative AI initiatives will surge by 50% in the coming year, with major applications focused on Customer Service chatbots, business process workflow management, customer support, and market research. This momentum underscores the growing recognition of Generative AI as a critical enabler in an increasingly competitive digital ecosystem, reshaping how businesses operate globally.
As we move into 2025, we see AI-powered autonomous systems emerging as a transformative force. Agentic AI, leveraging frameworks like Domain Data Encapsulation (DDE), will transcend traditional Retrieval-Augmented Generation (RAG). By utilizing Knowledge Graphs, it will enable large language models (LLMs) to deliver precise, context-aware responses, making AI systems more intelligent and self-sufficient in analyzing data, adapting to dynamic conditions, and making informed decisions with minimal human intervention.
The article has been written by Rakesh Prasad, Senior Vice President – Digital Business at Innover Digital
