Each technology goes through an evolutionary arc, triggering the breakout moment with a strategic revolutionary event. For artificial intelligence (AI), this moment was the launch of ChatGPT in 2022.
According to Emerging Technologies Survey 2023, of the 54% of companies surveyed, more than half have integrated generative AI into their business operations within a year. With the enormous growth of AI in 2023, we must ask: what does 2024 hold for AI? Will the hype turn into a robust AI ecosystem?
Here we make 6 bold predictions about the major developments and innovations that will shape AI in 2024. Let’s quickly recap the crazy year of 2023 for AI and what the future holds now.
2023: a year in AI
January: Launched in November 2022, ChatGPT marked the beginning of the explosive growth of AI. In January 2023, ChatGPT became the fastest service to reach 100 million monthly active users (within 2 months).
FEBRUARY: Google announces its competitor ChatGPT Bardtriggering the AI war.
March: OpenAI makes significant progress with the release of GPT-4APIs for ChatGPT and its Whisper text-to-speech model.
April: Google announces Google DeepMindbringing together the Google Research and DeepMind teams.
Can: Microsoft announces AI Assistant for Windows 11 and NVIDIA Reaches $1 Trillion Market Cap fueled by the AI boom.
June: The European Parliament is making significant progress on EU AI Act. This is the first time a widely recognized regulator has drafted AI regulations.
July: Meta announces its open source LLM model Llama 2and Anthropic launches competitor ChatGPT Claude2.
August: Quora announces its own AI chatbot called ‘Poe‘.
September: Amazon makes history $4 billion investment in OpenAI competitor Anthropic.
October November: Elon Musk announces AI chatbot for X called ‘Grok.’ Additionally, chaos emerges on the OpenAI board when Sam Altman is briefly fired as CEO (and then reinstated).
December: Google announces Geminiits multimodal AI model.
AI in 2024: what awaits us
Prediction #1: Increased Regulation and the Need to Comply
As AI takes off and continues its ascent, the technology will come under increased scrutiny from regulators. This has been evident during 2023 events such as the European AI law and the US Senate hearings on AI.
Regulation has become a concern even within the private sector, as recent events with OpenAI where disagreements have arisen over the regulation of AI.
We predict that 2024 will mark a socially and legally significant moment for AI in terms of its use and how it should be used.
Prediction #2: The rise of multimodal AI
After LLM models (Large Language Models), diffusion models and generative AI, we will see the emergence in 2024 of new, even more powerful modes of interaction with AI with “multimodal AI”.
Through this, users can use images, speech, digital data, etc. to interact intuitively with AI systems. Consider Google’s recent announcement regarding its Gemini Model LLMwhich will succeed LaMDA and PaLM 2 with multi-modal AI capabilities.
OpenAI’s GPT-4 has multimodal capabilities in search contexts, with multimodal functionality available in ChatGPT for business and professional users.
Prediction #3: AI personal assistants as “co-pilots” will gain ground
We predict that AI will enable each user to have their own personalized assistants to help them accomplish more with less. Additionally, companies will equip their customers with an AI assistant to provide each user with a more personalized interaction.
Businesses can also train AI on internal data to create AI personal assistants, enabling employees to work better and smarter with an AI personal assistant.
Prediction #4: AI Deepfakes Will Worsen Misinformation and Political Propaganda Problems
Digital disinformation and its influence on politics have been a widespread concern since the advent of social media. But now, with the rise of AI-generated multimedia propaganda, i.e.deep fakes”, the problem will become a force multiplier.
Especially with US elections in 2024 and other parts of the world, like Indiabeing able to know whether a certain video, audio or image is real or AI-generated will be a significant problem.
Prediction #5: The way we search for information online will change
Today, searching for information online involves typing something into a search engine and getting search results pointing to different websites. But today, with the rise of advanced models like Bard and ChatGPT, the way we search for information has changed.
We anticipate that LLMs will act more as trusted dialogue partners, enabling deeper, intuitive and contextual access to knowledge. Additionally, this will be supported by LLMs providing links to relevant websites where the user can access to verify the information.
Prediction #6: Biotechnology will be the biggest benefactor of AI
The impact of AI in 2023 has been rapid and has spread across various sectors. While biotechnology may not have dominated the public debate, it is industry that will see the most impact from AI.
AI’s ability to mine complex data and derive meaningful insights at an unprecedented scale is remarkable. While traditional means encountered obstacles, the biotechnology industry will now take advantage of this event.
For example, in genomics and gene editing, researchers can now analyze complex genetic data to identify targets for CRISPR. This can help understand genetic diseases and even map the impact of gene editing in advance.
The possibilities are endless, which is why we believe biotechnology will continue to benefit from AI technology.
More soon
If 2023 was the year that AI captured the public’s attention, 2024 will be the year that the technology firmly consolidates and strengthens its presence. This will include breakthroughs in medicine/biotechnology, new ways to interact with technology through multimodal AI, and much more.
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