The year 2024 is just around the corner, and it’s bringing a tidal wave of changes that will reshape technology and work. At least that’s my hot take…and not everyone is going to agree with me (if so, I want to hear it!), especially on my predictions that AI is going to cause up to 40% of layoffs and the way companies market and sell is about to significantly change. Let’s break it down.
Prediction: Personalization Will be King
Pay-per-click advertising will take center stage in a way it hasn’t before. Adapting your marketing strategy to align with this trend will be crucial for staying ahead.
It’s time to say bye to generic approaches and hyper-focus on creating tailored and personalized communication. Avoid doing so, and you will lose any competitive edge you have. You’ll see companies introduce completely dynamic websites that change and update for every prospect and customer that visits them.
Prediction: Email Automation Will Get the S%$ Kicked Out of It
Consumers are about to get their revenge. They are going to turn the screws on all the companies that have been blasting their inboxes for so long. Don’t believe me? Check out this post. 2024 is the year of bigger, fewer, better. Companies are going to spend a lot of money and time trying to figure out who to talk to and what to say. Spray and pray will go extinct because it will stop yielding the results of the past.
Prediction: The Rise of Autonomous SDRs
Prepare to meet your first fully autonomous Sales Development Representative (SDR) — trust me, this is on the verge of happening. Imagine programming your founder into an SDR, Customer Service (CS), and Account Executive (AE) bot. Automation is stepping up its game, and this is just the beginning. Don’t run away from autonomous helpers — embrace them. Prompts will become a commodity; any you create on the job will be owned by your employer. Any you create for personal use you’ll be able to “take with you”.
Prediction: Job Shifts and AI Impact
As AI continues to evolve, job displacements will shift from middle management, and freelancers are going to be severely disappointed because a lot of the work they do (unless it is very specialized) will get replaced with AI tools. Layoffs due to AI will be a hot topic, sparking discussions on Universal Basic Income (UBI) and AI taxes to fund necessary initiatives. I’m even going to put some math behind this prediction — I believe layoffs will reach about 40% net in the next 5-10 years.
Prediction: Proprietary Data Will be Expensive
Access to proprietary is getting hard to access, so therefore the cost of it is about to go up — significantly. Take Reddit as an example — companies used to be able to mine the site’s data unchecked. Not anymore. You’ll start to see signs companies locking down their data, and matching up their interest in creating proprietary data sets generated by AI. Publicly available data is going away, and it’s not coming back.
Prediction: Provide Proof or Lose Deals
The premium on proof points, or evidence, that companies can deliver the results they claim to deliver is about to go up — especially if they’re selling AI-based tools. Get ready to show case studies and customer testimonials, or lose out to competitors who can. With the ubiquity of so many AI products, it’s getting harder to distinguish one from another. Companies will need to differentiate with licenses — as an example.
Prediction: Productivity Will Increase and Team Sizes Will Decrease
There’s about to be a large explosion of small-scale 1-20 person companies in “long tail” and lifestyle business models.
How to Prepare for the Future
To stay ahead of the curve, I’ve listed some practical steps you can take. How to execute these steps will be the subject of future posts.
Embrace GPT Assistants
Have a suite of GPT assistants at your disposal. Train them to automate your daily tasks. Those who adapt will thrive, while those who resist might find themselves out of a job in the coming decade.
Build Aggregated Databases. They are your Golden Ticket
Start creating aggregated databases of your calls and emails. Platforms like Otter, Zoom, and customer support tools can help you automate tasks and enhance productivity. The more you can automate yourself, the better prepared you’ll be for the changes ahead.
Develop AI Problem-Solving Skills
As AI becomes more prevalent, honing your problem-solving skills becomes crucial. Think like a developer or understand the basics of object-oriented programming. You don’t necessarily need to code, but understanding how these systems work will be essential.
The year 2024 promises exciting advancements, but it also challenges us to adapt. By preparing now and embracing the changing landscape, you can position yourself for success in a future where innovation and automation are the new norms. Stay curious, stay adaptable, and get ready for a transformative year ahead!