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gettyimages.comThe Future of AI: Trends to Watch in 2024 and Beyond
Curated by
cdteliot
9 min read
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As reported by Microsoft and other industry experts, artificial intelligence is poised for significant advancements in 2024, with trends like multimodal AI, small language models, and customizable generative AI expected to make the technology more accessible and integrated into everyday tasks while potentially helping address global challenges.
Generative AI: Beyond Text and Images
The first forms of AI content to come out are AI text and images. You can tell AI to write research papers, blog articles, social media captions, email campaigns, sales letters, and more
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. If you want images to go with them, AI can cater to those needs too. But just in recent years, AI can now also form videos, audio, and 3D models3
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. From text prompts, you can get fantastic content in all formats. It's a content creator's dream come to life! You don't have to hire a writer, a graphic designer, a video editor, and a voice actor because AI can take on all those roles at a lower (or zero) price5
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Of course, these generative abilities would only improve through time. Here are some likely advancements you can expect sooner or later: AI will be able to surf the Internet by itself to gain recent and relevant information for the text it creates7
. AI will be able to process longer text input provided by the user and also write more content in a single generation4
. AI photos will look more natural and authentic. It will no longer tolerate faulty images like text elements that don't make sense or subjects with extra fingers and limbs8
. AI videos will be longer than a few seconds and will be entirely editable through text input4
. AI voices can be adjusted by using prompts, while AI music and soundtracks will sound less mechanical and robotic4
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AI in the Workplace: Automation and Augmentation
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Artificial intelligence makes office work so much easier and faster with all the automation you can activate in your software and equipment. You can sit at your desk and take care of more important responsibilities because AI can cut you some slack. However, this is a two-way sword as we can already see mass layoffs happening in the present. Several huge companies have already made the drastic move of replacing their employees with AI machinery and more will follow in their steps.
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Goldman Sachs forecasted that AI could replace around 300 million full-time jobs by 2030, but it's also projected to create a net gain of 58 million jobs by 2025.3
This push and pull is still not definite and the figures may differ when the time comes. So how will all of these pan out? These are our predictions: AI will continue to take over jobs that are dominated by repetitive tasks, stealing these spots away from people. Human professionals will be forced to upskill and focus on landing positions that cannot be replaced by AI such as leadership roles and careers that require human input and thinking.4
More students will enroll in courses and find jobs that are related to AI and technology so they can secure job stability and have more opportunities. AI will displace jobs but clear the path for supplementary ones such as AI ethicists, data scientists, and machine learning engineers.5
AI will further assist employees in streamlining workflows, eliminating routine tasks, and speeding up operations with more advanced capabilities.6
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Ethical AI: Responsible AI Development
Artificial intelligence keeps growing in relevance and all the mega-corporations are jumping on the bandwagon. As AI surges in popularity, it still hasn't been kept in check. There are only a few countries that have laws that regulate AI and even those laws aren't comprehensive and remain to be lacking on multiple fonts. Plenty of organizations advocate for FATE or fairness, accountability, transparency, and ethics in AI but sadly these principles are treated like afterthoughts rather than requirements. If any injustice is committed with the use of AI, more often than not, they're swept under the rug by the wealthy companies that back such AI development. Is this likely to continue?
Thankfully, we think these cases won't be condoned and enabled for long. Many people are already speaking up about the unfairness of AI and the harm it can cause. Lawmakers can't afford to continue ignoring these sentiments or else they'll turn into a public outcry. Governments and organizations are slowly establishing regulations and guidelines. The European Union leads the charge as it is very strict on any AI innovations introduced to its nations. The United States and the United Nations have also held conferences for a unified defense against AI among allied countries. While these powers are cracking down on AI legislation, countries worldwide are also establishing their own frameworks for AI governance. In the future, AI won't be allowed to commit misdemeanors and roam freely as it does now. That goes the same for its developers who are equally responsible for not setting the right limitations on their applications.
Personalized AI: Customization at Scale
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We are now enjoying AI's skill to customize experiences for their users. It's just like how social media algorithms determine the kind of content you want to engage with. In the case of AI, it can determine what you want and what you need based on your previous inputs and interactions.
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What's responsible for this is machine learning. This part of the AI's "brain" learns from the information it continues to gather and store. It will use its newfound knowledge to adjust the outputs it gives you and how it communicates with you.3
This feature is prevalent in healthcare, retail, and entertainment. If you get admitted to a hospital, AI can scan your medical records and patient information, helping healthcare professionals diagnose any possible diseases and giving them an exhaustive overview of your condition. AI can even make a treatment plan just for you based on its finished analysis. Likewise, it can determine your shopping preferences in the retail sector. That's why the feed of your favorite online store shifts depending on your recent purchases and search entries, displaying products AI believes you would like. It can even tailor its communication style in chatbots, changing how it replies to you to earn your favor. For entertainment, the feeds of your streaming services shift in the same way. AI learns the kind of movies and music you like and would suggest similar titles. No wonder Netflix gave you that familiar movie recommendation and Spotify seems to know just what song you want to listen to.4
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This feature of most AI models will only grow at scale. More businesses and institutions will adopt it to engage their customers and users, cultivating trust until they eventually score sales or glowing testimonials.6
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Quantum AI: The Next Frontier
AI is joining powers with quantum computing to form quantum AI, a new and better breed of artificial intelligence that can analyze more complex data and solve problems much faster than classical computers. It's possible through quantum properties like superposition and entanglement.
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If you're wondering how quantum AI can push the boundaries of technology, you can find out its benefits in machine learning, medicine, and finance. With quantum algorithms, AI models can evaluate large-scale data more accurately at a faster speed. Meanwhile, quantum simulations can help in pharmaceutical research by showing interactions between molecules, displaying the likely effectiveness and flaws of potential drugs and materials.3
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Quantum AI can even go through an overwhelming amount of market data, pinpointing certain trends and patterns to assist in portfolio management while identifying potential investment and trade risks.5
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For now, experts are having trouble with the stability and scalability of qubits, the computing information of elementary particles. Nonetheless, they're positive that they can find solutions to these issues in the near future to improve quantum AI hardware and models.7
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Industry-Specific AI: Applications in Various Fields
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AI is widespread because it can be used in not just one but almost all industries and businesses. It can assist from brainstorming to execution, running tirelessly without the need for sleep or breaks. It also costs less to maintain AI than to pay hefty salaries to human employees to accomplish the same tasks. With AI's potential getting stretched as far as it goes, these are how the biggest industries are leveraging their AI tools:
Healthcare: AI can accurately assess patient data, vital signs, and even medical images. It can identify diseases and health risks, alerting medical staff on what may be wrong with your body. With its evaluation, it can suggest personalized treatment plans and preventive measures to nip any possible issues in the bud. AI also helps in researching and discovering new drug candidates, bringing forth much-needed medication to counter illnesses.
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Finance: AI can automate your finances. May it be setting aside some money for your savings, paying your bills on time, or forming the ideal budget, AI financial apps can tackle those tasks. It can manage your investments as well by trading in your stead and allocating your funds across a curated portfolio that's likely to get you profits. For financial institutions, it can strengthen security against fraud and suspicious transactions.1
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E-commerce: AI can take over entire customer support teams by powering chatbots that can reply to customer queries 24/7. AI integrations in online shops can also increase sales by showing products that customers are likely to buy on their feeds, using previous search data and purchase history to pull up similar items. AI can automate logistics too, handling delivery arrangements and product restocking.1
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Manufacturing: AI can run factory robots and machinery with minimal input from humans. Such equipment can do routine manufacturing chores, lowering the need for more hands to help in production. They can also do predictive maintenance, checking systems with sensors that can pick up problems that may result in equipment failure. This avoids any downtimes with machinery breaking down unexpectedly. AI can also make the most of resources, suggesting the right amount of materials to decrease waste and expenses.5
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Transportation: AI enables self-driving cars and vehicles that have AI capabilities like automatic seat adjustments and voice assistants. AI systems can optimize traffic flow in urban areas as well, reducing congestion and emissions.5
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Agriculture: AI has been integrated into farming robots, machines that can carry on simple tasks like plowing the fields, pulling out weeds, and planting seedlings. AI can also be responsible for setting up systems for irrigation, fertilization, pest control, and livestock management. With drones, it can predict crop yield, providing farmers with the opportunity to adjust their farming methods for a more bountiful harvest.6
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Education: AI can become a teaching assistant, handling most of the administrative tasks of teachers so they can focus on actually teaching their students. AI creates lesson plans that match the instructors' intent and the learning syllabus. It also checks and grades the students' submissions and schoolwork, even dropping feedback that can help them improve.6
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Closing Thoughts on the Future of AI
AI's tomorrow seems to be bright, but it will be dim for people who refuse to use this technology to their advantage in an AI-driven future. It's clear that the big shots—both corporations and individuals alike—are riveted by AI. Since these powers essentially rule the world, you can expect that AI will trickle down even to regular people like us, impacting our daily routines and business operations
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. You can already see it now in the broader range of industry trends and customer experiences, and you'll see even more of it in the future. If you pretend like AI's non-existent or treat it as your enemy, you're missing out on all the benefits and innovative solutions it offers, enhancing human capabilities and creative expression3
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Yes, AI has its downsides, especially with ethical considerations and concerns over human workers being replaced, but rest assured that it will be slowly reined in, fixed, improved, and regulated as time passes4
. For now, familiarize yourself with it and leverage it in your career, business, or personal endeavors. AI-generated content and multimodal models make life and work so much easier, often integrating seamlessly with human intelligence5
. It's better to learn how to use it now than to be more overwhelmed and confused about its mechanisms in the future.
AI will continue to evolve and grow, taking up more space in the landscape of various industries as more developments are added to its vast suite of tools, software, and applications6
. Human intervention will still play a key role in guiding its responsible use. You can't afford to be clueless about it because it may just be the most prominent innovation this world has yet to see.
We believe AI is not yet at that point, though. That's why we're thrilled to know what comes next for the remainder of this year and the years to come. Developers keep on surprising us with new AI capabilities, influencing real-time decision-making, and they will not be stopping any time soon7
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Related
How can individuals leverage AI to enhance their personal productivity
What are the ethical considerations surrounding AI adoption
How is AI influencing job creation versus job displacement
What are the most innovative AI applications in the healthcare sector
How does AI contribute to improved security measures in smart homes
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