Jan 02, 2024

AI Predictions for 2024

We're now in 2024, and there's a lot happening in the AI world. Here's what experts are predicting for the year ahead based on what I've been reading:

  1. Multimodal Models and Applications: AI is getting better at working with different types of media, not just text, but video, audio, and images too. This means we'll probably see AI showing up in more creative and unexpected places, especially in media production and other industries. TechCrunch

  2. Large Language Models (LLMs) Evolution: ChatGPT and similar tools have been impressive, but 2024 might give us a clearer picture of what these models can't do. There might also be diminishing returns from just making them bigger. The industry could shift toward using a mix of smaller, more specialized models instead, ones that are easier to update and more efficient. TechCrunch

  3. AI in Business: Companies are already using AI, about 73% of US businesses have adopted it in some form. Generative AI seems poised to change how businesses work, especially when it comes to pulling insights from unstructured data and helping with knowledge work. That said, just throwing new technology at problems won't cut it. Companies will need to think carefully about how they implement these tools. PwC

  4. GPU Shortage and Hardware Innovations: Demand for GPUs is way up, and there might not be enough to go around. If that happens, it could push companies to develop new hardware, particularly alternatives that use less power than current GPUs. Stanford HAI

  5. Regulation and Ethical Considerations: We should expect to see clearer AI laws taking shape this year, both in the US and internationally. There's growing concern about how AI is developed and used, so expect more focus on governance, safety, security, and building trust. Companies will need to figure out how to adapt to these new rules. TechTarget

  6. Retail and Consumer Engagement: Retailers are starting to use generative AI to create smarter shopping assistants that give customers personalized help. AI might also play a bigger role in keeping stores safe and secure. NVIDIA