February 11, 2024 • 19 mins
Welcome to your favorite Power Time podcast with Matt Noble and Scott Meddings. Dive into an exciting episode filled with insightful technological predictions for 2024. Discussions pivot around emerging trends, the mounting influence of tools like AI Builder, and the imminent rise of citizen development. As we share our opinions on the evolving tech landscape, enjoy moments of friendly exchange, personal stories, and our passion for tech products not linked with Microsoft or NCS.
Our episode begins with a laid-back banter about our holiday experiences, underlying the significance of restful breaks. Personal achievements and family time soon give way to serious discussions about our well-thought-out predictions for 2024's tech industry.
We delve into the expectant growth of AI Builder in the Power platform, contemplate on the likelihood of companies adopting first-party app replacement, and speculate an immense surge in citizen development. Listen as Matt predicts a fundamental shift in AI application across various industries, the potential rise of process mining, and the dawn of intelligent applications.
In the second half of the conversation, we delve deeper into the AI industry's future. Examine the speculated rise of process mining, the need for AI-related policies in businesses, and AI's potential for monetization in different sectors. As AI continues to revolutionize work, anticipate a radical alteration in workplace dynamics.
We further mull over industry-specific models, particularly within healthcare, finance, and legal sectors, and question if the tech ecosystem can adapt swiftly enough to manifest this potential. Entreating businesses to adopt robust policies and guardrails to venture into the AI landscape with confidence, we project the successful enterprises of 2024 as those comprehensively embracing AI.
We conclude with a smidge of suspense as we hint at the upcoming Microsoft AI Tour and announcing our new webpage. Catch this episode for your dose of insightful tech predictions and stay updated with the fast-paced AI world.
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Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
(00:02):
Thanks for tuning into the show today. Just a quick reminder that everything
we talk about today is both Scott and Matt's opinion and not the opinion in Microsoft and NCS.
This is the podcast where we talk all things low-code, technology, career.
(00:24):
So we're really interested in understanding the journeys that companies have
gone on as well. So we're going to try and interview as many as we can.
All right, welcome back, everyone, to the show. It is with great pleasure I'd
like to introduce our guest on the show today.
Three, two, one, let's kick into it. It's power time.
(00:47):
Get ready, let's go. Unlocking secrets leaders should know.
Music.
Welcome everyone to the power time podcast i'm joined
with matt noble and myself scott meddings to have a bit of a chat to everyone
around our predictions this time around but first of all matt what happened
(01:10):
over christmas how was your break break was very much well well deserved in
my own humble opinion as well so lots of sort of downtime lots of relaxing taxiing,
catching up with family and friends, hosted Christmas,
which was fantastic as well. So I've spent a lot of time with loved ones.
Unfortunately, moved the last week of my break, which I'm vowing to never do
in a long time as part of that process as well.
(01:31):
So 41 degrees and moving, Scott, that wasn't my finest hour when making that
decision as well, but glad to be settled in and really excited for a big 2024.
I'm really also excited to share sort of what we're seeing in market and what
we're really going to sort of what those tech trends will be in 2024.
What about yourself, mate? What did you get up to over the break?
I had two goals this year.
(01:53):
I wanted to be kicking on with my health. So I wanted to make sure that I was going to the gym.
And the other one was I wanted to get my six-year-old off her training wheels.
So they were both really important to me. And I'm happy to say that my daughter
now is off her training wheels. So we're able to get that done.
And also I went 12 times to the gym over the holiday break.
(02:14):
So that was just a big goal for me. and I'm happy that I got through it and
could still walk at the end of it.
So that represented about eight spin classes, I think, in that 12 times I went
and the rest was running.
So very happy with the break.
Didn't go anywhere. Just relaxed and focused on the family.
Yeah, no, I think that's very important as well. Like I say,
(02:35):
2023 was such a big year for probably both of us, given what we've done and
given what's happening in the particular tech industry as well.
I think having that time to sort of really switch up and spend it with family,
I think has been really critical.
And I know I'm feeling really refreshed and recharged. So like I say,
tackle for a big 2024 and really excited for what the year is going to bring
ahead in multiple ways as well.
(02:56):
So I guess let's get going and let's start to talk about some of those big predictions.
Yeah, the way we're going to run it, Matt, is we'll do three predictions each, yeah?
Okay, yeah. And so I can go first, if you like, with my three predictions,
and then you can kick off with your three predictions, and then we'll discuss
at the end of this what we think. How's that sound?
(03:19):
Yeah, I'm ready to go. So I'm really interested to hear your predictions.
I'm often a bit of a thought leadership to myself, and I always like to hear
the way you're seeing technology.
So, my first big one is given all of the focus on LLM and AI,
this year I think will be the year for AI builder in the platform.
(03:40):
So, I think it's a logical place for AI to kind of reside and really,
I think it will really get to a new level of maturity.
I think we'll be able to do some great things in applications and I think on
the Power Platform, that's the place you should go. So my prediction,
and we can circle back in a year's time, but my prediction will AI Builder will
(04:00):
be a huge part of the platform this year as far as uptake.
I think we'll see a big, big part of that. That's my first prediction.
My second prediction for the year is I think we'll see an insurgent of first-party app replacement.
So what I mean by that is there's a lot of talk around cost consolidation out
(04:23):
there right now around applications.
And a lot of CIOs are looking and going, how can I save license fees?
How can I save deployment costs? How can I move really fast?
And I think if you're only using 5% to 10% of a first-party application out
there today and you can go ahead and build that application on low-code,
(04:44):
I really think we'll see a lot of organizations doing that this year and just saving fees.
And probably including our first-party applications as well.
Or if you have a really basic CRM process or customer service process.
They're probably going to go ahead and do that.
To me, that kind of makes sense. The platform's really mature now and I think
(05:05):
we'll just see that level of maturity across those first-party applications and things.
And for those that I think that getting maximum value out of the applications,
they'll consolidate and really put more use cases in those. So I think it's
doubling down on first-party.
So that's my second prediction. Yep.
And my final prediction for the year is, I think, given we've spoken so much
(05:29):
about the rise of citizen development, and I don't think we've really seen it,
because, you know, although we call it sit dev and it is very easy to use load code tools,
I think with the rise of LLM and the amount of work that's going in the product
to sort of make it really easy to go and build things like PCFs or to go and,
you know, use the tooling,
(05:50):
I think we'll see a rise of a whole bunch of people.
People using the product this year as that really matures.
So people that maybe perhaps didn't build apps before, we'll be able to do that
as we really bring in these new language models and make it really simple.
Remember, we're only at iteration 4.5 with ChatGPT and things like this.
So once we say the maturity come through of future versions,
(06:14):
that's just going to instantly be an upgrade in the product.
So because we're seeing right now across the entire platform,
form a whole bunch of AI integrations, kind of the year of integration 2023.
2024 is going to be the year of how do we use that? How do we get more productive and things like that?
So that's my three predictions. So first one is AI Builder will get more mature
(06:38):
using LLMs and I think we'll see more adoption.
Second one is I think we'll see some fringe first-party applications getting
built in low-code to save on costs. costs and the third one is the rise of the
citizen developer, more so than what we see today.
So that's me. Over to you, Matt. What are you thinking?
Yeah, for those listening as well, Scott and me didn't share notes prior.
(07:01):
My predictions are somewhat similar.
So based off those speaking forward, I love your predictions.
I think the last one in particular, I'm hearing a lot of sort of rumbling from
organizations that we work with or that I work with in particular that they're
really interested in that next phase of adoption. So I completely agree.
And I think you're bang on with that trend based off what I'm hearing in conversations
that are coming up in the last couple of weeks.
(07:23):
So my first prediction is a bit of a similar one. One, I think obviously AI
is going to be huge in 2024.
But my prediction is AI has been going to go from theory to practice.
And again, what I mean by that is there's a lot of talk about AI,
but organizations are really trying to figure out where it fits into their organization
and their ways of working.
(07:44):
So I'm seeing particularly a lot of sort of case studies that are coming out
recently. I know Vodafone had a bit of a press release.
They had obviously a partnership with Microsoft in that, and they're going to
be utilizing OpenAI into their Tobii bot, which I think is fantastic.
We're seeing professional services organizations really start to adopt co-pilot
and AI to have more cost savings.
And again, this is an article that was released by Mita Ellison.
(08:06):
Again, another really great case study for those listening to the call.
And in one of our customers in Oricon, again, they're really sort of to look at adopting AI.
And again, another public case study for listeners to listen to and to obviously
view that particular article.
Again, we're seeing different industry verticals adopt AI in different ways.
So I'm seeing that sort of their organizations really figure
(08:27):
out where AI is going to sit and I'm gonna we're
gonna see a lot Of different use cases pop up in in 2024 So again AI going from
theory to practice is my first one The second one and a product that I'm really
excited about I know I chat to you about a lot this strategy about this product
a lot Scott is process mining and why it excites me is.
(08:49):
What process mining allows you to do is really identify bottlenecks in your
existing automation that you have.
So the rate at which you can automate now is significantly faster,
obviously, with co-pilot in Power Automate.
So the opportunities to identify those automation opportunities that provide
the best ROI and process mining really does that.
(09:10):
Again, I see that as a really big opportunity to really provide those business
benefits for organizations. So, process mining is a massive one.
And talking to Justin Graham when we caught up with him in November and sort
of what's in the roadmap in that particular product, I was really excited.
So, I have a lot of sort of my team members that are getting trained up in process mining at the moment.
(09:30):
And it's a big watch area for the market, separate to AI as part of that.
And my last one is really similar to yours, Scott, regarding sort of the app modernization play.
And my sort of prediction is that
the dawn of the intelligent application is really going to drive
application modernization and and what
(09:51):
i mean by that is the cost to do nothing now is greater
than prior before because of these ai sort
of ai adapted user interfaces that you can build out within these
intelligent application experiences now prior to
prior to prior to that before having sort of lotus notes and
and all these other applications that have big licensing costs they
were the compelling events to modernize and migrate those applications
(10:12):
whereas things just like as such as InfoPath and other legacy
experience the cost to do nothing prior probably didn't
outweigh the cost to transform but what I'm seeing
now is due to the the applications and the artificial intelligence that's available
in the in the Microsoft suite that these intelligent applications experience
will really sort of be the catalyst to modernize a lot of these legacy applications
(10:34):
so I think application modernization and it's going to be a big sort of play
and a big big sort of topic in marketing 2024.
So they're my predictions. Happy to have any questions or even any challenges on those, Scott.
I love those predictions. I think I agree. Process mining is something that
we really haven't tapped into.
And I mean, I guess, you know, it's a brand new product last year,
(10:56):
people still getting their head around what it is and what it can do.
And it has a really nice synergy around data feedback.
So, you know, you can look at your processes, make some changes,
get some suggestions through the language model and the ENCODE pilot,
and then obviously make those changes and then see if it had an effect.
So it's almost like a feedback process.
(11:16):
So yeah, I definitely think that's a great plan. Yeah.
What am I doing? A fourth prediction now? I'm happy to say that.
I think AI-related policies in organizations, obviously associated to these
LOMs, that's going to be a big trend because I think the organizations that
will be successful in 24 will be those that embrace AI and not fearful of AI.
(11:38):
That will be extremely successful moving forward. So I think a lot of AI-related
policies will come out and be fast-tracked by organisations associated to LLMs
and all of that kind of stuff, I think that's a really big watch here.
And Scott, that hopefully will appease some of these potential questions that
will come because there will be people that are quite fearful of all of this
kind of stuff as part of that.
(11:58):
But again, having those related policies and guardrails in place can kind of appease that.
But definitely agree, face-to-face meetings are starting to move forward and
we're seeing a lot more face-to-face meetings.
Obviously, COVID's had a massive impact on that. But me personally,
I love a face-to-face meeting. I love a whiteboard. I love getting the text throughout.
And I love sort of interacting with people in the office. So yeah,
(12:20):
I completely agree with you on that one.
Yeah, so that'll be interesting for the year. I think one of the predictions
I had, which didn't make it into my top three predictions of this year.
Purely because I don't know whether everyone can move fast enough,
is I think the whole monetization of AI into industry.
So perhaps we might see a language model specifically for legal or specifically
(12:44):
for health or specifically for, you know, other industries, FSI, things like that.
I just don't know if we'll get that done this year. I think it's definitely going to happen.
I just don't know if the technology and the ecosystem will move fast enough
this year for that to really move.
And we'll see, you know. That's a fringe prediction for me that didn't make
(13:07):
it into my top three, but I think we might get there by the end of the year.
Anything like that, would that be similar to a Dynamics Accelerator so that
comes out as part of that?
There might be a model, obviously, a language model associated to that with a bit of data.
As part of each of those industry verticals i just
think the vcs out there all probably want to go and sponsor
you know or fund companies that
(13:29):
grabbing a language model turning it into an industry vertical and
then coming up with some sort of sas outcome for that you know we might even
see some of that stuff going to ai builder perhaps you know in the future where
you know all if all i do is is you know if i'm an australian company and all
i do is manufacturing then then perhaps someone puts a whole bunch of manufacturing data,
(13:51):
maybe it comes from a partner into a language model,
and then it's really a really relevant industry vertical for that customer.
I don't think, you know, I don't think Microsoft, Amazon,
Google, I'd be surprised if, you know, there's industry verticals this year
in the big three just because, you know, everyone's so busy just getting the
(14:13):
data center stood up and everything to support all of this stuff and the focus.
So, I think it'll be a VC-type funded round of companies.
If you've got something like this that you can stand up pretty quickly.
Obviously, health makes sense, right?
So, some sort of model. I was listening to a really good – another podcast actually
really good the other day around this topic where they were able to, you know,
(14:34):
really use language models to look at antibiotics and things like this and solve
some of the problems there.
Not to come up with new antibiotics, but to really look at it and go,
how can we narrow down from our samples from 80 down to 10 that we think might
work before we do testing.
So that should accelerate a whole bunch of research that's getting done right now.
(14:56):
So we won't see the effects of that this year, but over the next year or two,
we should see a whole bunch of new things coming through.
But exciting time, I agree. 2024 to me has just really started with a bang and.
You know, I'm really looking forward to the AI tour that Microsoft are holding in February.
So keen to see what happens there and if there's any new announcements or perhaps
(15:20):
what people are saying on the street around what's going on right now.
Similar to yourself, I think we're at the dawn of this new wave of technology.
It's a really exciting space to be in. And for those obviously really close
to, obviously we're a partner that works with Microsoft technologies,
we're heavily invested in it as well.
But I think what's going to happen in the next 12 to 24 months in that particular
wave is really exciting.
(15:41):
And we're going to see a lot of change and a lot of positive change,
I think, in really maximizing things that we should be doing and shouldn't be doing.
So a lot of the manual repetitive tasks and AI is really going to contribute to that.
But again, I think it's going to change and evolve as these models grow and
the technology sort of evolves as well.
Considering the rate, it is sort of accelerating at the moment,
which is really excited.
(16:01):
And again, I'm super pumped for that, obviously, AI event. I think we'll be
going, we'll be attending, we'll be sharing a lot of insights.
We might be even getting a special guest on board to kind of share some other
insights, which will be exciting.
So again, a bit of a plug for the next podcast, watch this space in that particular trend.
So yeah, looking forward to attending that one and looking forward to having
(16:22):
conversations with similar people in the industry to see what they're thinking
and they're expecting as well.
Because given the way the technology is going, I think interacting with fellow
colleagues and fellow people in the industry that have these different ideas
and mindsets is something that I'm starting to do a bit more of.
I'm starting to learn about, you know the way they're thinking about technology
getting adopted so yeah like i say very exciting time and again looking forward to the next 12 months.
(16:47):
Yeah, awesome. Awesome. I think we're going to see a lot of maturity across our podcast as well.
Hopefully, Matt, as we pump out more of these this year, one of the things you
and I, of course, have been working on in the background is how we can connect
with the listeners a bit more on the show.
So we've decided to stand up a simple webpage, powertime.au,
(17:07):
if anyone's listening, wants to jump on there.
And you can, of course, subscribe to our mailing list.
And what we'll endeavoured to do is send out a bit of a newsletter every quarter
on things that we've talked about on the podcast, guests, connections,
links, things like this.
So that should be pretty cool as well, Matt, as we kind of go down this journey.
(17:31):
Yeah, and also if there's any requests or topics that you want us to cover,
more than happy to do that.
Again, we really want to engage the community and make this really beneficial
and really maximise your listening to times.
I know So I'm a big podcast listener in the sauna and on the way to the office,
all that kind of stuff as well.
So you want to maximize your time. And thanks to everyone that does listen and
support Scott and myself as we go on and embark on this journey.
(17:52):
It is something that I'm really excited for, personally as well,
in the next 24 months that we're going to be doing this for. So yeah.
Yeah, yeah, cool. All right, well, I will add a link to our webpage to allow
people to put a suggestion or to submit an idea for the show.
And we'll look at those and review them before we do each podcast and see if
(18:13):
we can include some of that in the actual show as we move forward.
On next week's podcast, we can't wait to get into the AI tour and really discuss how the day went.
So tune in next time. A big thank you to everyone who's helped with the podcast
so far and all the people that have given us some great advice having had the
(18:33):
first one. And I can't wait for everyone.
Music.
Thanks for tuning into the show today. Just a quick reminder that everything
we talk about today is both Scott and Matt's opinion and not the opinion in Microsoft and NCS.
This is the podcast where we talk all things low-code, technology, career.
(00:24):
So we're really interested in understanding the journeys that companies have
gone on as well. So we're going to try and interview as many as we can.
All right, welcome back, everyone, to the show. It is with great pleasure I'd
like to introduce our guest on the show today.
Three, two, one, let's kick into it. It's power time.
(00:47):
Get ready, let's go. Unlocking secrets leaders should know.
Music.
Welcome everyone to the power time podcast i'm joined
with matt noble and myself scott meddings to have a bit of a chat to everyone
around our predictions this time around but first of all matt what happened
(01:10):
over christmas how was your break break was very much well well deserved in
my own humble opinion as well so lots of sort of downtime lots of relaxing taxiing,
catching up with family and friends, hosted Christmas,
which was fantastic as well. So I've spent a lot of time with loved ones.
Unfortunately, moved the last week of my break, which I'm vowing to never do
in a long time as part of that process as well.
(01:31):
So 41 degrees and moving, Scott, that wasn't my finest hour when making that
decision as well, but glad to be settled in and really excited for a big 2024.
I'm really also excited to share sort of what we're seeing in market and what
we're really going to sort of what those tech trends will be in 2024.
What about yourself, mate? What did you get up to over the break?
I had two goals this year.
(01:53):
I wanted to be kicking on with my health. So I wanted to make sure that I was going to the gym.
And the other one was I wanted to get my six-year-old off her training wheels.
So they were both really important to me. And I'm happy to say that my daughter
now is off her training wheels. So we're able to get that done.
And also I went 12 times to the gym over the holiday break.
(02:14):
So that was just a big goal for me. and I'm happy that I got through it and
could still walk at the end of it.
So that represented about eight spin classes, I think, in that 12 times I went
and the rest was running.
So very happy with the break.
Didn't go anywhere. Just relaxed and focused on the family.
Yeah, no, I think that's very important as well. Like I say,
(02:35):
2023 was such a big year for probably both of us, given what we've done and
given what's happening in the particular tech industry as well.
I think having that time to sort of really switch up and spend it with family,
I think has been really critical.
And I know I'm feeling really refreshed and recharged. So like I say,
tackle for a big 2024 and really excited for what the year is going to bring
ahead in multiple ways as well.
(02:56):
So I guess let's get going and let's start to talk about some of those big predictions.
Yeah, the way we're going to run it, Matt, is we'll do three predictions each, yeah?
Okay, yeah. And so I can go first, if you like, with my three predictions,
and then you can kick off with your three predictions, and then we'll discuss
at the end of this what we think. How's that sound?
(03:19):
Yeah, I'm ready to go. So I'm really interested to hear your predictions.
I'm often a bit of a thought leadership to myself, and I always like to hear
the way you're seeing technology.
So, my first big one is given all of the focus on LLM and AI,
this year I think will be the year for AI builder in the platform.
(03:40):
So, I think it's a logical place for AI to kind of reside and really,
I think it will really get to a new level of maturity.
I think we'll be able to do some great things in applications and I think on
the Power Platform, that's the place you should go. So my prediction,
and we can circle back in a year's time, but my prediction will AI Builder will
(04:00):
be a huge part of the platform this year as far as uptake.
I think we'll see a big, big part of that. That's my first prediction.
My second prediction for the year is I think we'll see an insurgent of first-party app replacement.
So what I mean by that is there's a lot of talk around cost consolidation out
(04:23):
there right now around applications.
And a lot of CIOs are looking and going, how can I save license fees?
How can I save deployment costs? How can I move really fast?
And I think if you're only using 5% to 10% of a first-party application out
there today and you can go ahead and build that application on low-code,
(04:44):
I really think we'll see a lot of organizations doing that this year and just saving fees.
And probably including our first-party applications as well.
Or if you have a really basic CRM process or customer service process.
They're probably going to go ahead and do that.
To me, that kind of makes sense. The platform's really mature now and I think
(05:05):
we'll just see that level of maturity across those first-party applications and things.
And for those that I think that getting maximum value out of the applications,
they'll consolidate and really put more use cases in those. So I think it's
doubling down on first-party.
So that's my second prediction. Yep.
And my final prediction for the year is, I think, given we've spoken so much
(05:29):
about the rise of citizen development, and I don't think we've really seen it,
because, you know, although we call it sit dev and it is very easy to use load code tools,
I think with the rise of LLM and the amount of work that's going in the product
to sort of make it really easy to go and build things like PCFs or to go and,
you know, use the tooling,
(05:50):
I think we'll see a rise of a whole bunch of people.
People using the product this year as that really matures.
So people that maybe perhaps didn't build apps before, we'll be able to do that
as we really bring in these new language models and make it really simple.
Remember, we're only at iteration 4.5 with ChatGPT and things like this.
So once we say the maturity come through of future versions,
(06:14):
that's just going to instantly be an upgrade in the product.
So because we're seeing right now across the entire platform,
form a whole bunch of AI integrations, kind of the year of integration 2023.
2024 is going to be the year of how do we use that? How do we get more productive and things like that?
So that's my three predictions. So first one is AI Builder will get more mature
(06:38):
using LLMs and I think we'll see more adoption.
Second one is I think we'll see some fringe first-party applications getting
built in low-code to save on costs. costs and the third one is the rise of the
citizen developer, more so than what we see today.
So that's me. Over to you, Matt. What are you thinking?
Yeah, for those listening as well, Scott and me didn't share notes prior.
(07:01):
My predictions are somewhat similar.
So based off those speaking forward, I love your predictions.
I think the last one in particular, I'm hearing a lot of sort of rumbling from
organizations that we work with or that I work with in particular that they're
really interested in that next phase of adoption. So I completely agree.
And I think you're bang on with that trend based off what I'm hearing in conversations
that are coming up in the last couple of weeks.
(07:23):
So my first prediction is a bit of a similar one. One, I think obviously AI
is going to be huge in 2024.
But my prediction is AI has been going to go from theory to practice.
And again, what I mean by that is there's a lot of talk about AI,
but organizations are really trying to figure out where it fits into their organization
and their ways of working.
(07:44):
So I'm seeing particularly a lot of sort of case studies that are coming out
recently. I know Vodafone had a bit of a press release.
They had obviously a partnership with Microsoft in that, and they're going to
be utilizing OpenAI into their Tobii bot, which I think is fantastic.
We're seeing professional services organizations really start to adopt co-pilot
and AI to have more cost savings.
And again, this is an article that was released by Mita Ellison.
(08:06):
Again, another really great case study for those listening to the call.
And in one of our customers in Oricon, again, they're really sort of to look at adopting AI.
And again, another public case study for listeners to listen to and to obviously
view that particular article.
Again, we're seeing different industry verticals adopt AI in different ways.
So I'm seeing that sort of their organizations really figure
(08:27):
out where AI is going to sit and I'm gonna we're
gonna see a lot Of different use cases pop up in in 2024 So again AI going from
theory to practice is my first one The second one and a product that I'm really
excited about I know I chat to you about a lot this strategy about this product
a lot Scott is process mining and why it excites me is.
(08:49):
What process mining allows you to do is really identify bottlenecks in your
existing automation that you have.
So the rate at which you can automate now is significantly faster,
obviously, with co-pilot in Power Automate.
So the opportunities to identify those automation opportunities that provide
the best ROI and process mining really does that.
(09:10):
Again, I see that as a really big opportunity to really provide those business
benefits for organizations. So, process mining is a massive one.
And talking to Justin Graham when we caught up with him in November and sort
of what's in the roadmap in that particular product, I was really excited.
So, I have a lot of sort of my team members that are getting trained up in process mining at the moment.
(09:30):
And it's a big watch area for the market, separate to AI as part of that.
And my last one is really similar to yours, Scott, regarding sort of the app modernization play.
And my sort of prediction is that
the dawn of the intelligent application is really going to drive
application modernization and and what
(09:51):
i mean by that is the cost to do nothing now is greater
than prior before because of these ai sort
of ai adapted user interfaces that you can build out within these
intelligent application experiences now prior to
prior to prior to that before having sort of lotus notes and
and all these other applications that have big licensing costs they
were the compelling events to modernize and migrate those applications
(10:12):
whereas things just like as such as InfoPath and other legacy
experience the cost to do nothing prior probably didn't
outweigh the cost to transform but what I'm seeing
now is due to the the applications and the artificial intelligence that's available
in the in the Microsoft suite that these intelligent applications experience
will really sort of be the catalyst to modernize a lot of these legacy applications
(10:34):
so I think application modernization and it's going to be a big sort of play
and a big big sort of topic in marketing 2024.
So they're my predictions. Happy to have any questions or even any challenges on those, Scott.
I love those predictions. I think I agree. Process mining is something that
we really haven't tapped into.
And I mean, I guess, you know, it's a brand new product last year,
(10:56):
people still getting their head around what it is and what it can do.
And it has a really nice synergy around data feedback.
So, you know, you can look at your processes, make some changes,
get some suggestions through the language model and the ENCODE pilot,
and then obviously make those changes and then see if it had an effect.
So it's almost like a feedback process.
(11:16):
So yeah, I definitely think that's a great plan. Yeah.
What am I doing? A fourth prediction now? I'm happy to say that.
I think AI-related policies in organizations, obviously associated to these
LOMs, that's going to be a big trend because I think the organizations that
will be successful in 24 will be those that embrace AI and not fearful of AI.
(11:38):
That will be extremely successful moving forward. So I think a lot of AI-related
policies will come out and be fast-tracked by organisations associated to LLMs
and all of that kind of stuff, I think that's a really big watch here.
And Scott, that hopefully will appease some of these potential questions that
will come because there will be people that are quite fearful of all of this
kind of stuff as part of that.
(11:58):
But again, having those related policies and guardrails in place can kind of appease that.
But definitely agree, face-to-face meetings are starting to move forward and
we're seeing a lot more face-to-face meetings.
Obviously, COVID's had a massive impact on that. But me personally,
I love a face-to-face meeting. I love a whiteboard. I love getting the text throughout.
And I love sort of interacting with people in the office. So yeah,
(12:20):
I completely agree with you on that one.
Yeah, so that'll be interesting for the year. I think one of the predictions
I had, which didn't make it into my top three predictions of this year.
Purely because I don't know whether everyone can move fast enough,
is I think the whole monetization of AI into industry.
So perhaps we might see a language model specifically for legal or specifically
(12:44):
for health or specifically for, you know, other industries, FSI, things like that.
I just don't know if we'll get that done this year. I think it's definitely going to happen.
I just don't know if the technology and the ecosystem will move fast enough
this year for that to really move.
And we'll see, you know. That's a fringe prediction for me that didn't make
(13:07):
it into my top three, but I think we might get there by the end of the year.
Anything like that, would that be similar to a Dynamics Accelerator so that
comes out as part of that?
There might be a model, obviously, a language model associated to that with a bit of data.
As part of each of those industry verticals i just
think the vcs out there all probably want to go and sponsor
you know or fund companies that
(13:29):
grabbing a language model turning it into an industry vertical and
then coming up with some sort of sas outcome for that you know we might even
see some of that stuff going to ai builder perhaps you know in the future where
you know all if all i do is is you know if i'm an australian company and all
i do is manufacturing then then perhaps someone puts a whole bunch of manufacturing data,
(13:51):
maybe it comes from a partner into a language model,
and then it's really a really relevant industry vertical for that customer.
I don't think, you know, I don't think Microsoft, Amazon,
Google, I'd be surprised if, you know, there's industry verticals this year
in the big three just because, you know, everyone's so busy just getting the
(14:13):
data center stood up and everything to support all of this stuff and the focus.
So, I think it'll be a VC-type funded round of companies.
If you've got something like this that you can stand up pretty quickly.
Obviously, health makes sense, right?
So, some sort of model. I was listening to a really good – another podcast actually
really good the other day around this topic where they were able to, you know,
(14:34):
really use language models to look at antibiotics and things like this and solve
some of the problems there.
Not to come up with new antibiotics, but to really look at it and go,
how can we narrow down from our samples from 80 down to 10 that we think might
work before we do testing.
So that should accelerate a whole bunch of research that's getting done right now.
(14:56):
So we won't see the effects of that this year, but over the next year or two,
we should see a whole bunch of new things coming through.
But exciting time, I agree. 2024 to me has just really started with a bang and.
You know, I'm really looking forward to the AI tour that Microsoft are holding in February.
So keen to see what happens there and if there's any new announcements or perhaps
(15:20):
what people are saying on the street around what's going on right now.
Similar to yourself, I think we're at the dawn of this new wave of technology.
It's a really exciting space to be in. And for those obviously really close
to, obviously we're a partner that works with Microsoft technologies,
we're heavily invested in it as well.
But I think what's going to happen in the next 12 to 24 months in that particular
wave is really exciting.
(15:41):
And we're going to see a lot of change and a lot of positive change,
I think, in really maximizing things that we should be doing and shouldn't be doing.
So a lot of the manual repetitive tasks and AI is really going to contribute to that.
But again, I think it's going to change and evolve as these models grow and
the technology sort of evolves as well.
Considering the rate, it is sort of accelerating at the moment,
which is really excited.
(16:01):
And again, I'm super pumped for that, obviously, AI event. I think we'll be
going, we'll be attending, we'll be sharing a lot of insights.
We might be even getting a special guest on board to kind of share some other
insights, which will be exciting.
So again, a bit of a plug for the next podcast, watch this space in that particular trend.
So yeah, looking forward to attending that one and looking forward to having
(16:22):
conversations with similar people in the industry to see what they're thinking
and they're expecting as well.
Because given the way the technology is going, I think interacting with fellow
colleagues and fellow people in the industry that have these different ideas
and mindsets is something that I'm starting to do a bit more of.
I'm starting to learn about, you know the way they're thinking about technology
getting adopted so yeah like i say very exciting time and again looking forward to the next 12 months.
(16:47):
Yeah, awesome. Awesome. I think we're going to see a lot of maturity across our podcast as well.
Hopefully, Matt, as we pump out more of these this year, one of the things you
and I, of course, have been working on in the background is how we can connect
with the listeners a bit more on the show.
So we've decided to stand up a simple webpage, powertime.au,
(17:07):
if anyone's listening, wants to jump on there.
And you can, of course, subscribe to our mailing list.
And what we'll endeavoured to do is send out a bit of a newsletter every quarter
on things that we've talked about on the podcast, guests, connections,
links, things like this.
So that should be pretty cool as well, Matt, as we kind of go down this journey.
(17:31):
Yeah, and also if there's any requests or topics that you want us to cover,
more than happy to do that.
Again, we really want to engage the community and make this really beneficial
and really maximise your listening to times.
I know So I'm a big podcast listener in the sauna and on the way to the office,
all that kind of stuff as well.
So you want to maximize your time. And thanks to everyone that does listen and
support Scott and myself as we go on and embark on this journey.
(17:52):
It is something that I'm really excited for, personally as well,
in the next 24 months that we're going to be doing this for. So yeah.
Yeah, yeah, cool. All right, well, I will add a link to our webpage to allow
people to put a suggestion or to submit an idea for the show.
And we'll look at those and review them before we do each podcast and see if
(18:13):
we can include some of that in the actual show as we move forward.
On next week's podcast, we can't wait to get into the AI tour and really discuss how the day went.
So tune in next time. A big thank you to everyone who's helped with the podcast
so far and all the people that have given us some great advice having had the
(18:33):
first one. And I can't wait for everyone.
Music.
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