Generative AI Trends 2024
We have a list of technology trends that are set to make a mark in 2024, and at the top of the list is unquestionably generative AI.
This year, it has become the technology that has caught all eyes thanks to its potential and its ability to reach both the specialist and general public, and 2024 will be the time when it will continue to advance and present new innovations.
McKinsey has revealed that up to 4.4 trillion dollars a year could be added to the global economy in the first months of this technology. Machine Learning has been one of the big drivers of generative AI-enabled products, and since ChatGPT was launched in late 2022, we have seen numerous updates and iterations.
Looking ahead, publications such as Forbes have already released their forecasts, and we believe that the trends that will be crucial for generative AI in 2024 are as follows.
Larger and more powerful models
The new version of ChatGPT, GPT-4 Turbo, features new advances, such as a new knowledge limit, longer prompts, better instruction tracking, and multiple tools in one chat, as well as image detection and analysis with GPT-4V.
Other LLMs, such as PaLM2 or Google’s Gemini and DeepMind’s Gopher, are trained with hundreds of billions of parameters, and there are growing rumors that GPT-5 will be launched in 2024, which will be a step forward in terms of size.
Increasing the size of the dataset will make the models smarter, as well as more reliable.
One of the most important use cases we have started to see is tools that help designers simplify the creation of materials through simple instructions.
They are very important support for professionals who can quickly generate prototypes to finalize them with more solid, effective, or sustainable designs.
Generative video and audio
Linked to the previous point, multimedia formats can be produced easily, quickly, and much more cheaply. This format of choice for the younger generation will be one of the most important trends over the next few years.
AI audio generation is also becoming more sophisticated, as is the imitation of the tones and inflections that make up human speech.
So far, most generative AI tools, algorithms, and LLMs specialize in simulating a single mode of expression. However, with the advent of models such as GPT-4, the trend in generative AI is towards multimodality.
Meta has also shown a model that can bring together images, text, audio, and inertial data at the same time. It will therefore be a feature that becomes more common over the coming months, and the “normal” for generative AI will be to interact with an image or video just as we do now over text.
Beyond responses to a message from a standard chatbot and then waiting for instructions from the user on what to do next, autonomous agents are a type of generative AI applications that operate efficiently by continuously generating and responding to prompts.
As such, they can perform more sophisticated operations than traditional chatbots, and there are already some examples, such as AutoGPT, which was introduced a few months ago.
2024 will be when we see more advances as a generalized AI that can perform any job we ask of it is developed.
Applications and services enhanced with Generative AI
According to a study by AIM Research, by 2024, 40% of enterprise applications will include conversational AI as a built-in feature.
One example is Snapchat, which already adds a generative AI bot to its users’ contact lists that they can use to get answers to questions or even treat them as a “virtual friend”.
So, 2024 will be a time when most app vendors will be adding chat interfaces to improve user engagement and user experience.
Generative AI in education
The use of AI in the classroom may at first be met with some reluctance, but it is something we have been witnessing ever since it was proposed to introduce intelligent calculators in mathematics classes.
Teachers will gradually introduce generative AI to generate notes, reports, lesson plans, summaries, and so on. It will also transform education by creating personalized learning experiences.
Examples exist, such as Character.ai, a chat room allowing users to chat with AI-generated characters and historical figures.
Generative AI and Healthcare
Thanks to this technology, The healthcare sector will also be one of the most beneficial and at the forefront. Historically, it is one of the most receptive to technological innovations, and this will be no exception.
From the generation of synthetic medical images for training models to the creation of personalized treatment plans, generative AI will play a key role in advancing healthcare technologies, diagnostics, and patient care.
Generative AI will revolutionise software processes by optimizing data collection, as well as facilitating understanding between analysts and customers, which will minimize the risks of miscommunication through rapid prototyping.
It will also simplify the creation of code snippets in different languages, which will increase developer productivity and software quality. This impact on productivity can vary between 20 and 45%, transforming programming languages similarly to natural languages.
The European Union was the first to take a step towards regulating AI, and other countries worldwide have gradually joined in. There is still no clear legislation and an agreement that satisfies everyone, but 2024 will be the moment when many governments will begin to implement measures that attempt to preserve the privacy and security of citizens without jeopardizing innovation and technological development.
Generative AI is such a versatile tool with so much potential that it is set to become a mainstream technology. If you are still not sure how to introduce it in your company to transform your business operations, Plain Concepts can help you.
We offer you a unique framework for the adoption of generative AI, which will help you incorporate and take advantage of the benefits of this technology in different departments and operations of your business.
It covers training, ideation, development, and deployment of different use cases that bring significant value to your company, as well as helping you meet your objectives. If you don’t want to be left behind and start making the most of generative AI, don’t wait any longer and contact us!