5 Artificial Intelligence trends expected to attract a lot of attention in 2024
SINGAPORE: The development of Artificial Intelligence (AI) is predicted to happen more rapidly and will be more integrated in our lives come 2024. This happens when companies are more aware to work on its potential, individuals use it to increase productivity, and legislators try to control the pace of laws covering this field, AI will become more and more influential in our daily lives. Hopefully, 2024 will bring more progress towards solving some of the vexing issues associated with this technology. Although barriers due to cost and ease of use may have been resolved in recent years, there are still issues of trust, bias, accessibility and governing laws. Here, I'd like to share some of the key development trends in AI in the coming year - so you can better prepare and generate greater opportunities.
More Than ChatGPT The next generation of generative AI tools will go beyond the chatbots and image generators that have mesmerized and sometimes scared us too. Generative video and music creators are starting to emerge, and they're only going to get more powerful and user-friendly. We'll start to see it embedded into creative platforms and productivity tools, as we've seen with ChatGPT technology this year. New and interesting applications will emerge, such as generative design tools and "voice synthesis". Being able to distinguish between the real and the computer generated will be an increasingly valuable skill in our critical thinking.
Ethically Based AI AI has the potential to be so amazing that it is important to develop it, and use it in a responsible way, and prevent it from causing harm. We already know some of the dangerous factors - bias, lack of transparency, potential to replace human jobs and our inability to say with 100 percent certainty, that it will not escape regulation. In 2024, we will see continued focus on mitigating these problems and continued vigilance for new problems. AI ethicists will be increasingly in demand as companies appear to demonstrate that they adhere to ethical standards and use appropriate safeguards. The Speed of Development of Additional AI Applications or “AI Augmented Apps”
New technology
This year, everyone is rushing to build generative AI functionality into their software and applications. From search engines like Bing and Google to productivity tools like Office, social apps like Snapchat and industry-specific platforms like Expedia (travel) and Coursera (education), adding chatbot functionality is emerging as an effective strategy to drive the next generation of customer experiences. Service providers may have delayed their services due to uncertainty about data protection and customer privacy issues, but this should be resolved as AI providers adapt their services to meet market needs. An example is the Adobe AI integration of the generative design tool Firefly, fully trained on proprietary data, to reduce concerns that copyright and ownership could be a problem in the future.
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Quantum AI This may not be a trend that will affect everyone quickly. But quantum computing – capable of massively accelerating computationally heavy workloads – is increasingly finding applications in AI Quantum algorithms process data using qubits that exist in more than one state at a time, as opposed to traditional computer bits that can only be 1 or 0. This is one of the features that makes it far more efficient than classical algorithms for problems such as optimization – determining the best combination of many different variables – which is usually dealt with by machine learning. Throughout 2024, I expect we will see more advances in the use of quantum computing to power larger and more complex neural networks and algorithms. AI in Marketing & Consumer Analytics AI is revolutionizing the social market research industry by providing a more cost-effective, fast and efficient way to collect, analyze and interpret data from social media platforms, online forums and other digital sources. With AI, business companies can gain real-time insights that can help them respond quickly to changing market conditions and consumer behavior. But many companies still mistakenly assume that AI-enabled consumer insights are limited in scope and short-term. They see high development and deployment costs and aren't sure AI is right for their business.
Digital around the world
Recent studies, however, predict high growth for the global AI market research industry driven by an increase in demand for more accurate and real-time market insights – even for smaller businesses and sole proprietors too! So, it is not true to assume that gathering real-time consumer insights is only for large companies or multi-national corporations (MNCs). In fact, AI and marketing research packages can be used by small business owners as well. Final Word AI won't take away jobs but people who use AI will take jobs away from those who don't take advantage of it. If you want to get ahead, understanding how AI impacts your own job or field and developing the ability to match the right tool to the job is a very smart idea. Forward-thinking employers will seek to help their workforce make this transition by integrating AI skills into their education and training programs. If not, there are tons of resources online, and most of them are free. So take advantage of these resources, and you too will be able to help develop yourself better and contribute more effectively to your workforce.

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