Scholars and researchers have been working on artificial intelligence (AI) hard and fast in the last few years. Explore The Future of Artificial Intelligence: Trends to Watch 2024.
In today’s world, AI is already being applied in many forms, from personal digital assistants like Siri and Alexa to automobiles that can drive on their own. Hoping all for next year 2024 AI does not wait for the break.
Here are some of the emerging AI trends that are expected to emerge in the following years.
Greater AI Capabilities
One of the key drivers for the future developments of artificial intelligence will be enhancements of the AI fundamentals including machine learning, natural language processing, computer vision, and predictive analysis.
As algorithms develop further and computing performance increases, AIs will only get better at interpreting language, identifying images and objects, forecasting and suggesting relevant information, and many more complex thought processes.
This will lead to more natural ways of interacting with the AI systems and help in creating use cases that cannot otherwise be thought of.
For example, enhanced computer vision capability will enhance augmented reality and virtual reality. Faster and more accurate comprehension of language will result in the improvement of the intelligent dialogue systems such as the chatbots and virtual assistants.
And advanced analytics will help it make more accurate predictions and thus businesses will gain better understanding from big data.
AI Automation
While AI systems are still less effective than human beings in performing non-routine tasks, as AI systems will enhance pattern recognition, prediction, control, and decision making capabilities, it will be easier to develop AI systems that can perform routine tasks independently without human supervision.
Customer interactions, diagnosis of diseases, supply chain management, financial management, content development, and others will be operated by AI to free human beings and let them focus on higher order tasks.
The AI Automation pandemic will reach peak by 2024, positively impacting productivity and efficiency of various sectors.
Employment, however, will have to be handled carefully to reflect the society’s changing needs as traditional employment roles get displaced by the automation wave, but the financial returns down the line seem promising.
AI for Science
Apart from the business and industrial uses, AI technology will become more frequently used for scientific purposes and discoveries.
In current areas of application that generate more and more data like biology, astronomy, particle physics, and climate science, AI is crucial as it is capable of analyzing results in a shorter time, identify patterns and hypotheses, and even suggest what experiments to perform next.
In the year 2024 and beyond, AI will supplement human researchers as a partner in the development of science across the board.
Even now with AI systems they have helped in discoveries in the field of astrophysics, genetics, drug discoveries and material sciences.
AI can be a powerful tool in science, and increasing its application can bring about improvement in the rate of innovation in general.
Growth in Edge Computing
For instance, as the edge becomes more real-time and demands extremely low latency, even more, AI computations shall occur at the edge instead of relying on the cloud.
They also anticipate that advancement in 5G networks and devices hardware will lead to faster adoption of edge-based AI. Leading experts and research firms believe that global edge AI chip shipments will surpass 50 billion in the year 2024.
Edge AI will further improve interactivity of applications that require real-time operation such as self-driving cars and live translation applications.
It also encompasses certain advantages concerning efficiency, scale, and privacy in contrast to the cloud-based AI.
Advancement of AI Chips
Specifically, optimized hardware such as GPUs, FPGAs and purpose-designed application-specific integrated circuit chips have been crucial for executing the compute-bound machine learning tasks that define today’s AI.
Some of the big industry participants such as Google, Microsoft, Amazon, IBM, Intel, Nvidia and young companies including Graphcore and Cerebras are investing heavily in building the next wave of chips for AI.
By 2024, it is expected that new hardware advancements that would further provide high performance computing optimized for both typical applications and AI specific operations. It helps startups to keep on setting the bar high for bleeding-edge AI chips to disrupt incumbents.
Cloud service providers are also developing their AI dedicated architectures using advanced chips for high-throughput AI to lease them to enterprises.
When the AI chipsets reach new levels of performance and energy efficiency, they will pave a way for the artists to come with their ideas.
Business AI Adoption
It would be interesting to note that more small businesses will be driven towards implementing AI as AI capabilities are growing while the costs of using such services are shrinking due to the availability of cloud services.
Not limited to the cash-gushing technology tycoons, AI tools for specific processes, customer profiling, predictive analysis, and what not will be available at cheap subscription fees.
Thus, the AI adoption rate in SMEs could be greater than 50 percent by 2024 compared to the AI adoption rate in 2022.
AI is achievable without changing existing architectures and without the need for skilled data scientists, AI is now within the grasp of companies of all sizes, set to deliver further boosts to productivity.
Here are only a few of the future AI trends that may come through as the world moves into 2024 and beyond.
Other emerging areas like advanced generative AI, deeper penetration of self-supervised learning models, evolving capabilities of multimodal models, and enhanced trustworthy AI certifications are also very important to observe.
Unfortunately, the only thing that is quite certain is that the rate of development of AI technologies is continuing to rise unabated.