Web Summit 2024 made one thing clear: artificial intelligence has become central to global innovation. From keynotes to panels, AI dominated discussions, with experts and entrepreneurs highlighting its transformative role in industries and daily life.
“AI will become commonplace. Web Summit proves it, and makes one thing abundantly clear—AI is transitioning from a trend to a fundamental aspect of how we work, innovate, and live. This transformation is not just on the horizon; it is happening now,” says Serhiy Tokarev, a tech investor, co-founder and partner at Roosh Ventures, a venture capital fund that supports AI-based startups and products.
AI’s Ubiquity Across Industries
Artificial Intelligence is reshaping sectors like healthcare, retail, finance, and logistics. A McKinsey report shows 65 percent of organizations now use generative AI, up from 35 percent last year. Venture capital reflects this surge, with 2024 funding for AI startups reaching $127 billion globally, a 45 percent increase from 2023.
Tech giants are amplifying this growth. Microsoft pledged $1.3 billion to expand AI infrastructure, while Google partnered with European labs to explore AI in science and the arts. These investments underscore AI’s role as a transformative force.
AI: Essential for Business Survival
For businesses, AI has shifted from optional to essential. Serhiy Tokarev warns that companies that fail to integrate AI might struggle. “Companies that ignore AI risk obsolescence, while those who embrace it are at the forefront of a new era,” explains Tokarev.
AI’s business applications include:
- Automating Tasks: Enhancing efficiency by handling repetitive work.
- Improving Customer Service: AI-driven tools enable faster responses and better experiences.
- Data-Driven Insights: AI analyzes vast datasets for better strategies.
- Personalized Solutions: From tailored e-commerce to health tech, AI meets individual needs.
- New Business Models: AI powers innovative platforms and services.
Businesses adopting AI position themselves at the forefront of innovation.
Beyond Business: Science and Sustainability
AI is driving advancements in science and sustainability. In research, it accelerates discoveries in genomics, drug development, and climate studies by processing large datasets and predicting outcomes.
For sustainability, AI supports precision agriculture, biodiversity monitoring, and disaster response. These applications address pressing global challenges like resource optimization and climate change mitigation.
Addressing Challenges: Cybersecurity and Jobs
With AI’s growth come challenges. Cybersecurity is increasingly critical. “Cybersecurity and cyber hygiene will become the new normal for everyone in their personal lives and a necessity for companies,” emphasizes Tokarev. AI helps detect threats, but awareness and education are vital.
AI also reshapes the workforce. While it may create 97 million jobs by 2025, it could displace 85 million. Reskilling programs are essential. ”That’s why we founded SET University in Ukraine,” says Serhiy Tokarev. “We want to provide innovative higher education for future leaders of the technology industry.”
AI in Daily Life
AI is becoming a household staple. Tools like ChatGPT assist with communication and creativity, while smart home technologies streamline routines. The global smart home market, valued at $87.51 billion in 2022, is projected to grow at 17.26 percent annually through 2028.
Web Summit 2024 confirms AI’s role as a cornerstone of modern society. Businesses and individuals must act now to harness its potential responsibly.
