AI Advancements in 2024: What to Expect?

Introduction

AI in 2024 has been predicted to be finer than what it was in 2023. ChatGPT, Bard, and Copilot got tremendous updates to ensure they were optimum and user-friendly. Many enterprises recognized the importance of AI and how it impacted their decision-making.

Moreover, tech giants invested heavily in AI startups to get ahead in the trend and keep up with the smooth functioning. However, governments across the globe paid serious attention to AI regulations to avoid exploitation. So have we reached the top in the advancements in AI?

Before answering that question let’s see the AI trends and news that went viral in 2023.

2023 in Review

Starting from Pope’s image to Sam Altman getting fired from OpenAI, we have covered some of the biggest events that happened last year.

• A Chicago man in March 2023 created an AI-generated image of Pope wearing a white puffer jacket using the AI image generator Midjourney, showcasing how powerful AI is in deceiving humans.
• In March, Tech chiefs including Elon Musk and Steve Wozniak wrote an open letter requesting AI organizations to halt training for six months due to potential risks such as loss of civilization control, job destruction, and human annihilation.
• Meta’s large language model, LLaMA, got leaked in the same month along with its weights, on 4Chan’s technology board and was available for download through torrents globally. This became a source of tools for the open-source community in the AI industry.
• Since the launch of Bing Chat in February 2023, Microsoft kept bringing innovation. They introduced Copilot, a widespread application of AI. Microsoft integrated Copilot into Word, Teams, and Windows 11, automating tasks like image creation and meeting summarization, to highlight the capability of AI.
• Reports suggested AI can take 300 million jobs if left in the dark. In addition to that, Hollywood authors went on strike over the use of AI in filmmaking. Moreover, writers in September filed a class action suit against AI organizations for using their works to teach their LLMs.
• Freshworks will launch a new AI assistant, Freddy, to help customer support and IT teams in improving customer and employee experiences. Freddy Customer Service will follow the launch of Copilot and Insights, the beta versions of which were launched in June 2023.
• In November 2023, the OpenAI board fired CEO Sam Altman leading to resignations and chaos. However, Microsoft offered jobs to him and other employees who resigned. Altman was reinstated later and OpenAI got fresh board members.

5 Advancements To Look Forward in AI in 2024

AI advancements are continuous and we think more innovations are coming in AI in 2024. Let us take a look.

1. Businesses Will Incorporate AI Into More Products

In 2024, the growth of incorporating AI into products and services will accelerate. This is because of AI’s capability to enhance experience, decision-making, and automate tasks. It can drastically impact the data and analytics lifecycles. So most Big Data problems and data science projects will have efficiency.

AI in 2024 will be accessible for organizations as it will solve a complex problem of data quality checks with the help of augmented tools. With AI integration and automation, Business Intelligence tools will provide a more seamless and interactive experience, ensuring that users engage with data in a natural language interface.

2. Convergence of AI and IoT

When AI and IoT are infused into an organization, it brings scalability, security and privacy, synergism, and reliability. IoT is the network of physical devices, gadgets, sensors, appliances, and vehicles that are connected to the internet and can communicate with each other. Though it can collect a significant amount of data and analyze it, it also poses security threats.

This is why infusing IoT and AI in 2024 is ideal. AI can help IoT in processing and interpreting data with the help of techniques like Machine Learning, computer vision, natural language processing, and speech recognition. Moreover, AI can assist in creating new applications and services based on the data collected by IoT.

3. Combining AI and Cryptocurrency

Cryptocurrency is a type of digital currency designed to work as a medium of exchange through a computer network. It is not issued by a central authority like a government or bank but is based on a network of decentralized peer-to-peer transactions. In 2024, we will see AI and cryptocurrency combined which is known as AI Crypto.

It is paving new roads for users in the AI and crypto space. AI crypto will create a pattern of intelligence and systematic processes that can change various sectors and industries. With AI the transactions can be automated and users can have utmost security, without any third-party involvement.

4. A More Realistic and Higher Quality Generation

In 2023, we saw inclusivity and diversity in all sectors and industries but many AI organizations didn’t include them in their services. AI in 2024 will witness much more inclusivity and diversity. Most enterprises are trying to make it as realistic as possible for a higher user experience.

Transparency is another thing we can see in AI happening as many content creation and publishing websites use AI-generated content and don’t put a disclaimer for the same. This can be misleading and won’t provide accurate information to the people. So it is ideal that enterprises will practice diversity and transparency in 2024.

5. Enterprises Will Perform Responsible AI

In 2023, people around the world raised questions about AI harming students and employees. So many governments framed policies governing AI usage in 2023. It will be a noteworthy watch to see what changes will be made in AI in 2024 in these policies.

For enterprises, only the EU made AI Act and policies but by June 2024 two US states California and Colorado will adopt regulations addressing automated decision-making regarding consumer privacy. Enterprises will need to figure out the applicable laws and work according to them. While these regulations are for AI systems that are trained or collect personal information, both offer consumers the right to opt out of the use of these systems. So it will be significant to see enterprises navigate responsible AI.

On a Final Note

AI in 2024 will see some critical advancements and technological evolutions. In 2023, we didn’t reach the highest advancements but will reach new heights in 2024. It will increase productivity, efficiency, and scalability for people from all walks of life. Businesses have to adapt to many changes and keep bringing innovation to stay in the competition keeping the new AI regulations in mind. So the journey ahead may look rocky in the AI trends but it will make work, education, and other aspects simpler for users.