AI was the hottest topic in 2023 – from ChatGPT’s growth, lawsuits, and drama, to everyone’s attempts to keep up – it’s safe to say that the 2020s are the age of AI.
With advancements in this type of technology accelerating at an unprecedented pace, it’s crucial to stay ahead of the curve and understand the key AI trends that will shape the tech landscape in the coming year.
Here’s a look at the top AI trends predicted for 2024, covering various aspects including workforce integration, industry applications, and the ever-evolving ethical considerations surrounding AI.
AI Trend 1: Quantum AI
The terms “quantum computing” and “quantum AI” are growing more and more in popularity as the gap between theory and reality is rapidly closing. A big AI trend in 2024 will be the developments in quantum AI.
What is Quantum AI?
Quantum artificial intelligence (AI) is the blend of quantum computing with artificial intelligence. Essentially, quantum computing is a multidisciplinary field of computer science that brings together quantum physics, math, and science to solve complex problems at an incredible speed. These two technologies combined create what we call quantum AI.
While quantum computing is still in its early stages, it is rapidly advancing. Researchers are making strides in harnessing quantum entanglement and superposition to create qubits, the building blocks of quantum computing. IBM has since cemented itself as one of the top global leaders in the quantum computing arena, thanks to its problem-solving breakthroughs in 2023. With the innovation of quantum computing, IBM plans to have an error-corrected quantum system running a billion gates by 2033.
This technology holds the potential to revolutionize industries, from cryptography to drug discovery. As quantum supremacy emerges, the prospect of practical Quantum AI applications becomes increasingly tangible.
This new way of processing information, combined with the power of AI, brings about the very real potential of a computing revolution.
AI Trend 2: Industry-Specific AI Applications
Industries across the board are gearing up to leverage AI in specialized ways. Forbes highlights five key trends for 2024, emphasizing the sector-specific applications of AI. This will be a popular AI trend in 2024 as we develop AI for specific purposes. From healthcare to finance, manufacturing to retail, AI is expected to revolutionize processes, optimize decision-making, and drive innovation.
For example, in healthcare, AI is predicted to play an essential role in personalized medicine, with advanced algorithms analyzing individual patient data to tailor treatment plans. Furthermore, in finance, AI-driven predictive analytics will become more sophisticated, aiding in risk management and investment strategies. These industry-specific applications underscore the versatility and adaptability of AI technologies.
AI Trend 3: AI Legislation
As AI becomes more ingrained in daily life and business operations, the need for robust legislation becomes increasingly evident. As seen at the World Economic Forum’s Davos 2024, the conversation between world leaders, billionaires, and tech CEOs shifted from the general excitement around AI trends in 2023 to a debate around proper legislation.
The EU is one leading example of this trend as they first proposed a framework for their AI Act in April 2021. Their AI Act is the world’s first comprehensive AI law designed to ensure the obligations of the provider for proper privacy, security, and environmental considerations. While the EU and the US have been regulating AI for years, this AI trend will only continue, as the conversation of how, and how far AI can be regulated has only started as new complications have emerged.
With the continued growth of AI trends, you can expect to see an upsurge in AI-related legislation globally, with a focus on addressing issues such as data privacy, bias in algorithms, economic uncertainty, and accountability for AI-driven decisions. Questions of military incorporations of AI have also brought to question the safety and regulation of AI, as geopolitical tensions could cause complications to the regulation of AI. To ensure responsible AI development and deployment, legislators will be working closely with industry experts, ethicists, and technologists to draft comprehensive regulations.
The question of the century will remain: will regulation stifle innovation, or will AI grow too big to control?
AI Trend 4: AI Ethics
Ethical considerations surrounding AI are gaining prominence, and 2024 is anticipated to be a pivotal year for prioritizing responsible AI practices. As mentioned above with the serious discussions around proper AI legislation, there is a growing need for organizations to embed ethical considerations into their AI strategies, ensuring fairness, transparency, and accountability in AI systems. This AI trend is only going to grow as more questions arise about what ethical AI looks like.
2023 saw some of the most amazing advancements in AI – while also shining a light on the ugly side of the technology. As seen in Elon Musk’s Grok AI bizarre – yet completely untrue – accusations of going to court for pedophilia allegations, his “maximum truth-seeking AI” is only one case of the many hallucinations that give rise to ethical concerns. Deepfakes and misinformation are another issue at the forefront of 2024, with upcoming elections causing major concern around truth and accountability. OpenAI is working on a tool to detect AI-generated images, but the ethical concerns around voter manipulation are a scary reality of modern democracy.
As AI systems become more complex and influential in global decision-making processes, addressing inherent biases, ensuring privacy, and promoting inclusivity will be critical components of ethical AI development. Worries about AI’s primary focus on increasing profits and social control as its primary function in the future continue to rise, and experts doubt an ethical AI design will be the norm. But, as we continue to unpack the uncomfortable and confusing ethics of AI trends, ethical frameworks will continue to be developed. Why – to prevent the undoing of humanity with AI.
AI Trend 5: AI-Run Businesses
The Computing Technology Industry Association (CompTIA) has released its “IT Industry Outlook 2024,” survey that revealed that over 20% of firms are pursuing integration of AI across a wide variety of technology products and business workflows. This includes innovations like chatbots, the use of predictive AI for marketing, and AI automation. Businesses have seen the benefits of AI in 2023, and this AI trend is only going to grow.
AI is not just a tool but a transformative force that is reshaping the very fabric of businesses. The AI-run business is where AI systems take on increasingly complex decision-making processes, allowing organizations to operate more efficiently and adapt rapidly to changing market dynamics.
The integration of AI into core business functions, such as supply chain management, customer service, and strategic planning, will redefine traditional business models. Organizations that embrace AI-run business models are likely to gain a competitive edge by leveraging data-driven insights and automating repetitive tasks, allowing human talent to focus on more creative and strategic endeavours.
AI Trend 6: Sustainability & AI
With the increasing pressure on organizations and businesses alike to prioritize sustainability and social responsibility, a big AI trend in 2024 will revolve around sustainability. Especially with the UN’s Sustainability Development Goals (SDGs) deadline approaching in 2030, companies are urged to focus on green and circular supply chains, particularly with the rise of ESG requirements becoming a part of legislation.
The urgency to decarbonize the economy may drive the global green, social, sustainability, and sustainability-linked bond market closer to the $1 trillion mark. With the rise of AI trends, companies have been utilizing the integration of this technology with sustainability analytics as a key strategy for achieving sustainability goals.
AI and machine learning (ML) can greatly improve the accuracy and efficiency of sustainability data collection, analysis, and reporting. By adopting AI and ML tech to enhance sustainability performance, there is a great potential for AI to be a driving force in sustainability improvements in 2024.
Major corporations are already utilizing AI in their sustainability initiatives; Microsoft has made active plans to reduce their carbon footprint by 30% with the help of AI and become carbon-negative by 2030. AI has also been used to calculate inefficiencies in data centers to utilize resources more sustainably and reduce consumption, as seen in Google’s 40% reduction in water consumption. The possibilities for sustainable AI are endless.
Conclusion
As we move further into 2024, the landscape of artificial intelligence is poised for remarkable advancements, with implications for industries, the workforce, and society at large. From the continued integration of AI into the workforce to the ethical considerations and legislative frameworks that will shape its trajectory, 2024 promises to be a year of significant evolution and innovation in the field of artificial intelligence. Staying informed and proactive in adapting to these changes will be key for individuals, businesses, and policymakers alike as we navigate the exciting yet complex future of AI.
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