Jan 02, 2024

As 2024 starts, here are some predictions of AI development for 2024 from different sources on the web:

  1. Multimodal Models and Applications: AI is expected to advance in handling multiple forms of media such as video, audio, and images, moving beyond text-based interactions. This could lead to AI being used in creative ways in media production and other industries https://techcrunch.com/2023/12/19/8-predictions-for-ai-in-2024/

  2. Large Language Models (LLMs) Evolution: While the capabilities of LLMs like ChatGPT have been impressive, 2024 may bring a clearer understanding of their limitations and potential diminishing returns on increasing their size. There's an anticipation of a shift towards a mixture of smaller, more specific models, which might be more efficient and easier to update https://techcrunch.com/2023/12/19/8-predictions-for-ai-in-2024/

  3. AI in Business: AI's role in business is set to deepen, with 73% of US companies already adopting AI in some form. Generative AI (GenAI) is expected to be a game-changer, enabling businesses to draw insights from unstructured data and augment knowledge work. However, realizing its full potential would require thoughtful implementation beyond just deploying new technologies https://www.pwc.com/us/en/tech-effect/ai-analytics/ai-predictions.html

  4. GPU Shortage and Hardware Innovations: A potential global shortage of GPUs, crucial for AI processing, might occur due to increased demand. This could spur innovation in hardware, with efforts directed towards developing low-power alternatives to current GPUs https://hai.stanford.edu/news/what-expect-ai-2024

  5. Regulation and Ethical Considerations: 2024 might see the establishment of clearer laws governing AI at both national and global levels. This comes amidst growing concerns about responsible AI, with emphasis on governance, safety, security, and trust. Companies might face challenges in adapting to these new regulations https://www.techtarget.com/searchEnterpriseAI/opinion/6-generative-AI-predictions-for-2024

  6. Retail and Consumer Engagement: In the retail sector, generative AI-powered shopping advisors are expected to enhance customer experiences by providing personalized assistance. Additionally, AI might be utilized for improving in-store safety and security https://blogs.nvidia.com/blog/2024-ai-predictions/

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