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The volatile artificial intelligence (AI) market will see debate, traction and advancement in 2024, though these trends may appear differently than you expect. Investors will divide their financial resources in various ways, and public AI usage will shift. The upcoming year will prove pivotal in AI’s trajectory concerning ethical mentalities to worldwide legislation.
1. Multimodal Is the New Norm
Large language models and generative AI rapidly embedded themselves into culture. However, user expectations will rise when a single output medium isn’t sufficient. AI technologies previously capable of one output gimmick — like text or image — will expand into other territories.
“It will not be enough for AI to generate a wall of words when it could provide audio or visual supplements for a more rewarding answer to a query.”
Models will also be more adept at analyzing multimedia and diverse file types, like PDFs, blueprints and video. The trend isn’t just speculation — Google is already on the path with its next-gen AI, Gemini.
2. The Open- vs. Closed-Source Debate Will Heat Up
Most AI models are closed, but some agencies, like Meta, have experimented with open-source frameworks. There are pros and cons to leaving code open for anyone to manipulate. Benefits include data integrity and governance, and it will be some time before quality consistency arrives across AI models to make these advantages not exclusive to open-source AI. However, businesses might not want to consider accessibility with enterprise data on the line.
Closed AIs are exclusive, making it easier to oversee their security and curate their data — for better or worse. Open AI has a broader audience to analyze, making it potentially more accurate and bias-free.
“Transparency will become a focal point of the AI conversation in 2024, making many wonder if open-source will become the expectation for organizations. Eventually, data will be the star of the AI show in place of the model itself.”
3. Startup Investing Crazes Will Be Less Diversified
From Stability, Cohere, Soundful, Atomic AI, Anthropic, Mistral and many others, big-name investors have many options to place their bets in the AI universe. Now that AI chatbots and tools appear on every website and app, will the faith in a multitude of startups dwindle to a select, successful few?
Venture capitalists will funnel money into the initiatives that maintained traction up to this point and desert the rest instead of placing bets on several promising AI technologies.
Additionally, companies will focus on developing proprietary AI tools, primarily as they increase in value as intangible assets in the form of patents, software and proprietary technology. Competitive advantage may soon rely on owning your AI instead of outsourcing.
4. Governmental Adoption Reduces Commercial Craze
A recent executive order in the U.S. required government bodies to hire chief AI officers, adding to a long list of C-suite titles. The rule hints federal bodies are taking AI more seriously in 2024. Many hope the staffing requirement will catalyze judgments on ethical use and recommendations for compliance when standardization for AI training and employment has been nonexistent.
“Solving AI problems at the federal level might supersede developing AI technologies in the private sector.”
For example, OpenAI and Microsoft are hearing from The New York Times. It is suing them for copyright infringement, claiming the company used millions of its articles to train AI without consent. Federal cohesion is required to handle these groundbreaking, precedent-setting cases.
The landscape will see a governmental reign over AI in 2024, with corporate entities subject to their determinations. The EU has already developed its AI Act, with many nations soon to follow. The commercial hype will fade because AI will lose its novelty, even temporarily. It may follow a similar cycle to other tech fads that fall in and out of favor, like cryptocurrency and the metaverse.
5. Corporate Use Rises as Private Use Falls
Though widespread use may mostly come from government sources, enterprise AI will still triumph over individual usage. Publicity surrounding AI is as promising as it is worrisome. Ethical concerns, social justice problems and data privacy plague its future. It’s more likely that agencies will try to sell and push AI-powered products onto customers more than they seek them out.
The increased awareness of AI troubles will cause personal use to decline as interest wanes. Corporations implement AI for a competitive advantage, but only compelling and relevant use will sway consumers from one company to another. Advertising AI incorporation in a company may even deter some customers from supporting a brand because of cultural hesitation.
AI’s Next Generation
AI will undergo more than social and funding shifts. Technology will develop and become more knowledgeable than ever. Every data byte will affect regulatory landscapes and your usage as the world realizes AI is here to stay. AI and tech enthusiasts must collaborate to determine fair and just recommendations for public dissemination while making it the convenient, intelligent asset humanity wishes it to be.
Also Read, Generative AI is Set to Revolutionize the Automotive Industry
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