The AI Landscape in 2024 - Breakthroughs and Trends to Watch
AI Summary
Summary: AI Trends and Predictions for 2024
- Generative AI Impact
- McKinsey & Company predicts AI could contribute 4.4 trillion annually to the global economy.
- Prediction 1: AI Smart Glasses
- AI glasses, like Lucyd Lyte and Amazon’s Echo Frames, are expected to become commonplace.
- Apple’s Vision Pro AR platform is anticipated to be influential.
- Challenges include privacy concerns, battery life, and ethical AI development.
- Prediction 2: ChatGPT Market Shift
- ChatGPT’s dominance is challenged by new AI services from companies like Mistral and ventures by Elon Musk and Google.
- ChatGPT’s website traffic fluctuated but saw a rebound in September 2023.
- Prediction 3: Small Language Models (SLMs)
- SLMs, such as Orca-2 and Tiny LLama, are gaining popularity for their efficiency in mobile and IoT applications.
- Businesses are expected to adopt SLMs for cost-efficient, optimized AI applications.
- Prediction 4: Large MultiModal Models (LMMs)
- LMMs, like Flamingo and KOSMOS-1, are emerging, combining text and image processing capabilities.
- GPT-4 is an example of this evolution, enhancing AI’s interactive experiences.
- Prediction 5: No AGI Yet
- AGI is not expected in 2024, with ongoing debates about its timeline.
- Iterative improvements in AI models will continue, making them “good enough” for various tasks.
- Prediction 6: Beyond Open and Closed Models
- The open vs. closed-source AI model debate is becoming outdated.
- New development and sharing models, like hybrid or federated AI, are emerging.
- Prediction 7: AI Benchmarking Challenges
- Benchmarking remains complex, with no universal standard expected in 2024.
- Custom benchmarks will be important for businesses to evaluate AI models.
- Prediction 8: Focus on Immediate AI Risks
- Immediate issues like bias and misinformation are prioritized over existential threats.
- The industry is focusing on mitigating immediate risks such as job displacement and biases.
- Conclusion
- These predictions serve as a roadmap for innovation and societal progress.
- The AI landscape challenges business practices and interactions with the world.
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