Web Summit 2024 Through the Eyes of Artjoker: Small Models, Big Changes, and Global Trends

Web Summit is always more than just a conference. It’s an event that brings together technology, business, and people shaping the future. This year, we were there too: listening, discussing, and jotting down the most exciting insights to share with you now.

How is artificial intelligence changing the approach to business? Why can small language models be a bigger breakthrough than you think? How are investors changing the rules for startups? And what does "personalization" mean today? These and other topics, including the latest AI trends 2024, were the highlights of Web Summit 2024. If you're curious about where the tech world is headed, this text is for you.

1. Small AI, Big Opportunities

Big AI is powerful but expensive. At Web Summit, much attention was given to small language models that can run directly on your devices – smartphones, laptops, or even smart gadgets. From Hugging Face, we learned that these models are not only more cost-effective but also more practical: they ensure data privacy and fast performance.

Imagine your microwave or fridge analyzing your habits and even suggesting optimal solutions for shopping or cooking. This is not the future – it's a reality already being actively tested.

For businesses, this means new opportunities: reduced dependence on expensive data centers and the ability to integrate AI for web development and customer-focused products. The influence of artificial intelligence on various industries, from home automation to enterprise applications, is reshaping how businesses approach innovation.

2. AI in Global Trade: Simpler Than Ever

One of the most practical examples of AI implementation was Alibaba's Accio platform. It helps businesses worldwide automate processes such as finding suppliers, comparing prices, and optimizing logistics.

How does it work? Imagine you're a small business owner in Bangladesh. Previously, you had to hire intermediaries to enter the global market. Now, you simply input your needs into Accio, and the platform generates a list of suppliers, analyzes conditions, and even assists with logistics arrangements.

Small businesses can now compete on the same playing field as larger corporations.This is a significant breakthrough for countries with limited infrastructure, showcasing one of the many areas of use of artificial intelligence.

3. Startups: Surviving the New Realities

Startups can no longer rely on "quick money." Investors have become more cautious, and that’s not necessarily bad. Panel discussions emphasized that big ideas alone are no longer enough – clear growth strategies and profitability are now critical.

Advice for startups:

• Focus on sustainable growth rather than rapid scaling.
• Reach out to global investors. European startups were encouraged to collaborate more with American and Asian funds.
• Be prepared for due diligence. Investors want to see real financial metrics, not just polished presentations.

Artificial intelligence trends 2024 have made a significant impact on how startups operate. For example, leveraging artificial intelligence for website development or AI for mobile app development can streamline processes and reduce costs, making startups more appealing to investors.

4. Personalization: More Than a Trend

Personalization is no longer a buzzword – it’s a market requirement. For instance, Mercedes-Benz actively implements features that adapt to each driver's style. Thanks to the data collected by their vehicles, the company creates tailored solutions for a more comfortable driving experience.

This approach works beyond the automotive industry. Imagine using a shopping app that offers deals perfectly aligned with your preferences or reminds you about frequently purchased products. This boosts customer satisfaction and drives sales.

The current trends in artificial intelligence emphasize personalization as a core feature in product development. By integrating AI for web development and user experience, businesses can better cater to individual needs, enhancing overall customer engagement.

5. Generative AI: The New Standard in Development

AI is no longer just an additional feature. It is now the foundation for creating new products. Generative AI enables process automation, reduces development time, and provides unique user experiences.

For example, companies are already using artificial intelligence to automatically generate content, design products, and analyze customer behavior. This not only saves time but also opens new horizons for innovation.