Artificial Intelligence has been in the spotlight since it was launched. Industry leaders and seasoned experts have discussed much about how AI can transform the future, from routine duties to complex tasks. This topic was also raised at Web Summit 2024. Sergey Tokarev, co-founder and partner at Roosh Ventures, shared facts about the breakneck growth and penetration of AI into the modern business world.
According to Sergey Tokarev, AI is no longer just a buzzword. It is steadily becoming a core part of our everyday lives and how businesses operate today. At Roosh, the entrepreneur has invested in AI-based startups and products.
“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 Tokarev.
AI Adoption Across Industries
It is difficult to find a market sector where Artificial Intelligence is not implemented. Healthcare, finance, retail, and manufacturing are among those segments witnessing rapid AI adoption rates. Sergey Tokarev shares a McKinsey & Company survey which reports that 65% of enterprises regularly use generative AI, nearly double the figure from just ten months ago.
In 2024, investment in AI startups surged by 45% compared to the previous year, reaching $127 billion globally, according to PitchBook.
The investor commented that tech giants have also been enhancing the industry. Microsoft announced a $1.3 billion investment over the next three years to enhance AI infrastructure and initiatives aimed at promoting digital and AI skills. Google, meanwhile, is collaborating with several European AI research labs, artists, and scientists to explore how AI can meet diverse needs and strengthen Europe’s position in AI research.
AI: A Must-Have for Modern Businesses
Businesses always look for win-win approaches to stay competitive. Artificial intelligence has become a critical component for companies to succeed. Sergey Tokarev commented that companies that ignored AI risked obsolescence, while those who embraced it were at the forefront of a new era. Further, the businessman exemplifies some of the most impactful AI applications in business:
- Streamlining Operations: AI automates repetitive tasks, significantly boosting operational efficiency.
- Transforming Customer Support: AI-driven tools reduce response times, enable human agents to focus on complex issues, and improve the overall customer experience.
- Data Analysis at Scale: AI processes massive datasets at incredible speeds, identifying trends and insights that would be impossible for humans to uncover.
- Personalized Products and Services: From tailored streamlined recommendations to wearable health trackers, AI enables hyper-personalization.
- Innovating Business Models: AI powers new platforms that connect service providers and consumers in groundbreaking ways.
Sergey Tokarev notes businesses must embrace AI, not as a futuristic novelty but as a core driver of their current and future success. Individuals should also seek to understand and use AI tools to improve their productivity and creativity.