GET READY FOR THE YEAR THAT AI, MACHINE LEARNING AND LLMs GO MAINSTREAM

01 Jan GET READY FOR THE YEAR THAT AI, MACHINE LEARNING AND LLMs GO MAINSTREAM

Posted at 20:50h in Uncategorized by

Artificial Intelligence (AI) has been gradually advancing over the past decade, but 2024 is poised to be AI’s biggest breakout yet. As algorithms get smarter, computing power expands exponentially, and machine learning data sets grow, LLMs and smart tech are set to achieve remarkable new milestones.

  1. Acceleration of AI Investment Seeing the immense opportunity, venture capital funding and private equity investment into AI startups is skyrocketing. In 2024 alone, over $60 billion of new funding is expected to flow into related companies, doubling the previous year. Tech giants are also heavily investing in internal AI departments. This flood of investment will supercharge new research and applications.
  2. Exponential Leaps in AI Capabilities The raw technical prowess of AI will take mind-bending leaps forward in 2024. We expect to see algorithms that can write sophisticated content matching human quality, AI assistants that can debate topics and formulate unique insights, self-driving trucks traveling across the country without human supervision, and medical diagnosis AI matching the accuracy of experienced physicians. The capability threshold of what AI can accomplish will dramatically shift upward.
  3. AI Getting Creative Previously AI displayed capabilities in statistical analysis and logic tests. However, in 2024 generative AI will demonstrate unforeseen artistic potential for the first time. Breakthroughs in generative adversarial networks and models like DALL-E 2 portend AI’s ability to create original music, paintings, digital content and creative designs – abilities once seen as uniquely human. This hints at a creativity-led economic boom.
  4. AI Ubiquity in Daily Life In the consumer world, AI embedded services will proliferate. Chatbots using natural language processing will be the first line of customer service. Personable AI companions and emotional intelligence will gain widespread adoption. Apps will have automated functions predicting user needs and preferences before asking. For businesses, automatically generating reports, transcribing meetings, scanning legal documents and flagging anomalies are just a few of the tasks that will be taken over by AI. The tech will fade into the background infrastructure of daily life.
  5. Stricter AI Regulation As the influence of AI accelerates, governments will debate and introduce regulatory frameworks to address accountability, privacy, data sharing protocols and mitigation of harm from such systems. Europe is expected to take the lead in pioneering AI regulations, but global coordination will prove complex across multiple jurisdictions. Regardless, oversight and governance of smart tech will emerge as a pivotal priority worldwide.

 

The collective impact from these advances crystallizing in the same timeframe will result in AI adoption hitting an inflection point and entering popular consciousness. By the end of 2024, the power of AI to reshape society will become self-evident. For innovators, the opportunities of this breakout year are monumental.