With the launch of OpenAI’s ChatGPT in Nov, 2022, we can witness the power of artificial intelligence. But it also acted as an indication of unimaginable possibilities in the growth of capabilities of AI and the change it can bring into our daily lives.
But in 2024, the trends in AI and machine learning seem to get more mature and sophisticated than ever. Organizations today are more focused on limiting themselves to experimentations and initiate real-world implementation.
Drop of OpenAI’s ChatGPT panicked the tech industry and entire creative industry to some extent. Now the landscape of openAI is shifting to more advanced technology like Multimodal AI. So, current AI trends demand cautions in AI development and its strategies. Also, it is raising the question of ethics, creativity, security and sometimes the whole existence of mankind too.
In this blog we will briefly discuss the AI and machine learning trends in 2024 and how it will alter the overall landscape of Artificial Intelligence. Do we really have to worry about the future impacts in AI or is it all a hoax?
Here are Top 5 emerging trends to watch in AI and Machine Learning in 2024
1. Multimodal AI: Transforming the way we interact with technology
Multimodal AI refers to the capability of system processing and understanding information from multiple sources such as text, images, sound, and even video.
Relying on multiple forms of data, this innovation aims to replicate the human-like perception and make AI more natural. This allows AI for more dynamic problem solving.
Head of frontiers research at OpenAI, Mark chen, at the conference EmTech MIT said, "The interfaces of the world are multimodal, We want our models to see what we see and hear what we hear, and we want them to also generate content that appeals to more than one of our senses."
He gave an example of taking an image of the inside of the fridge and then feeding that image to the AI asking to suggest the recipe out of the ingredients available in the fridge.
Beyond convenience, this currently trending AI technology has the potential to reshape the industries. For example, multimodal models can access medical images and patient’s history to improve diagnosis. In the workplace, this enables non-technical individuals to bring their ideas to life. Such as, designing or generating artwork with just a simple prompt.
2. Agentic AI: Rise of Autonomous AI
Rise of Agentic AI marks a new phase in trends in AI, moving beyond mere responsiveness to proactive decision making.
What does that mean? AI agents operate completely differently than the traditional AI. The capabilities of this trending AI is not limited to commands and predefined rules. But, AI agents set their own goals and take actions to achieve them without human supervision.
These systems are designed to understand their environment, adapt to changing conditions and solve complex problems with a minimal input.
Imagine AI agents tasked with monitoring the environment. It can analyze the real-time data, detect early warning signs of hazards like wildfire and implement the preventive measure on its own.
In the finance sector, it might manage an investment portfolio, adjusting strategies automatically based on market fluctuations.
A computer scientist Peter Norvig wrote in his blog, “2023 was the year of being able to chat with an AI. In 2024, we'll see the ability for agents to get stuff done for you. Make reservations, plan a trip, connect to other services.”
3. Hype to Reality check in Generative AI
There is no doubt, when ChatGPT was first introduced, it shook the entire market by its capabilities of executing tasks. But, by 2024, we are past that phase as the organizations are transitioning from the initial buzz around generative AI to its practical implementations. Many organizations are encountering the challenge of scaling AI to real-world settings.
This shift often termed the “trough of disillusionment” marks a crucial point where early enthusiasm gives way to the realities of adoption.
“It’s not very easy to build a generative AI application and put it into production in a real product setting,” said AI expert Luke.
According to industry expert Matt Barrington, companies are moving rapidly from the experimentation phase to asking, “How do I scale this across my enterprise?”
We can somehow agree on their words as scaling AI in organizations introduces numerous complexities and limitations. The most famous limitations might be ensuring high-quality output, addressing ethical and security issues and integrating AI in existing systems.
Despite these challenges and limitations, there is a positive eye to look at it. These challenges are teaching organizations to a more measured and sustainable approach to AI adoption. By setting realistic expectations and understanding AI’s limitations, businesses can create clear goals and plans for measuring success.
4. The growing focus on AI Ethics and security risks
By 2024, there is rarely any industry that is untouched by the use of AI.
While AI has immense potential to drive innovations, its adoption is raising concerns about misuse, bias and security vulnerabilities.
The rise of deep fakes, and AI-generated misinformation are fueling the concerns about manipulation, identity theft and trust in the media. Even more concerning is how AI can enhance malicious activities like ransomware, phishing attacks, making them harder to detect and more convincing than ever. These AI-powered can adapt and learn, increasing their effectiveness which can directly challenge the traditional security measures.
Addressing these challenges needs a proactive approach. Organizations need to implement strict security protocols for AI systems ensuring their data. AI developers and organizations should act like they are aware of the potential risks and challenges AI is inviting. They should adopt a comprehensive ethical framework that incorporates fairness, accountability and transparency from the beginning of the development process.
5. 2024: A pivotal year for AI Regulations and compliance
In 2024, the landscape of AI regulation is set to change dramatically as laws and policies evolve to address growing concerns around ethics and security. Companies worldwide will need to adapt to these new regulations to stay compliant and avoid heavy penalties.
One of the most significant developments is the European Union’s AI Act, which is poised to be the world’s first comprehensive AI law. This law aims to regulate how AI is developed and used, especially in high-risk areas like healthcare, law enforcement, and education. It will ban certain harmful uses of AI, enforce transparency from companies using AI, and impose strict requirements on developers of high-risk AI systems. If companies fail to comply, they could face millions of dollars in fines.
Another existing regulation that could impact AI development is the General Data Protection Regulation (GDPR), especially in relation to AI's use of personal data. As AI systems learn from vast amounts of data, the GDPR's rules around the "right to be forgotten" and data erasure pose a unique challenge. Ensuring that AI models can forget personal data, once requested, is a complex issue that organizations must tackle to stay compliant.
While federal AI legislation is still in the works, companies are advised to be proactive. Industry experts suggest that waiting for regulations to be finalized could put businesses at risk of falling behind. By preparing now, organizations can ensure that their AI practices are compliant with future laws and avoid scrambling to catch up when new rules come into play.
With AI continuing to evolve, governments and organizations must strike a balance between innovation and regulation, ensuring that AI is used ethically and securely in the years to come.
Final Words,
In 2024, AI continues to evolve at an unprecedented pace, with emerging trends such as multimodal and agentic AI redefining the way we interact with technology. While these innovations offer transformative potential across industries, they also bring forth critical challenges, particularly in terms of scaling, ethical concerns, and security risks. The shift from hype to real-world implementation is a natural evolution, reminding us that thoughtful adoption and realistic expectations are key to unlocking AI's true potential.
As AI becomes more integrated into everyday life, regulations like the EU’s AI Act will play a crucial role in shaping how these technologies are used responsibly. Organizations must be proactive, not only to comply with legal frameworks but also to ensure AI's ethical development. The future of AI lies in balancing innovation with accountability, and 2024 marks a pivotal year where businesses, governments, and society must collaborate to harness AI for good.
From our perspective, the trends shaping AI in 2024 are not just about technological advancement but also about navigating the complexities of its responsible use. As we move forward, the focus should remain on developing AI that aligns with human values, ensuring both progress and protection.
