2024: A Year of Practical Advances in Artificial Intelligence
If 2023 was a year filled with fascination about artificial intelligence, 2024 is proving to be the year for transforming that wonder into practical applications without excessive costs.
Arvind Narayanan, a Princeton University computer science professor and coauthor of the new book AI Snake Oil: What Artificial Intelligence Can Do, What It Can’t, and How to Tell the Difference, expressed that there is a “shift from putting out models to actually building products.”
The initial 100 million users who experimented with ChatGPT found it remarkably helpful in certain tasks while also noting its limitations. This generative AI technology is now being integrated into various tech services, often without the users being aware, as evidenced in AI-generated answers appearing in Google search results and advanced photo editing tools.
Narayanan remarked, “The main thing that was wrong with generative AI last year is that companies were releasing these really powerful models without a concrete way for people to make use of them.” This year, businesses are gradually enhancing products to make meaningful use of these capabilities.
AI’s Sticker Shock
During last year’s quarterly earnings calls, tech executives faced scrutiny from Wall Street analysts about the significant financial commitments to AI research and development. The infrastructure to support AI tools like ChatGPT requires energy-intensive computing systems powered by high-cost AI chips. In some cases, this has led tech giants to seek agreements for nuclear power to run their data centers.
Kash Rangan, an analyst at Goldman Sachs, highlighted, “We’re talking about hundreds of billions of dollars of capital that has been poured into this technology.” However, another analyst expressed skepticism regarding whether AI could solve the complex challenges that would justify its high costs. Rangan maintained an optimistic perspective, explaining, “AI tools are already proving ‘absolutely incrementally more productive’ in sales, design, and other fields.”
AI and Employment Concerns
With AI’s rise, many workers are uncertain whether these tools will enhance their jobs or replace them. Borderless AI has implemented an AI chatbot from Cohere to draft employment contracts for workers in countries like Turkey and India without outside legal help.
Concerns about job security have been voiced by video game performers within the Screen Actors Guild, particularly over fears of AI replicating their performances without consent. Artists and creators have expressed similar apprehensions regarding their works being utilized without permission, as noted by Walid Saad, a Virginia Tech expert who stated that while AI can generate outputs, it lacks the foundational understanding that humans possess.
Essence of AI Progress
Vijoy Pandey from Cisco has noted that AI developers are pursuing an “agentic future,” aiming to create AI tools that can tackle complex problems interactively. Future AI agents might collaborate to achieve tasks akin to team dynamics among humans.
The medical field has also benefitted from AI advancements. Rapid diagnostic capabilities, facilitated by AI’s ability to analyze data, represent one of the most dramatic developments in healthcare, enabling quicker decisions by practitioners.
In conclusion, investments in AI infrastructure are surging, with major corporations like Microsoft planning to invest $80 billion by fiscal 2025. Vice Chair Brad Smith stated, “Today, the United States leads the global AI race thanks to the investment of private capital and innovations by American companies of all sizes.”
As the world navigates the evolving landscape of AI technology, the focus remains on balancing innovation with ethical considerations and real-world application.
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