What could be the next top trends for Artificial Intelligence in 2024?
Over the last few years Artificial Intelligence grew at a staggering pace, overtaking all other digital products, services and systems in the technological industry in terms of importance due to its disruptive potential; and it is already changing the way people and businesses carry out their daily activities.
Hence, it is no coincidence that AI actually leads the digital transformation as a driving force, playing a key role for both developers and users. As a matter of fact, the latest AI stats and data highlight how Artificial Intelligence already achieved impressive results with the prediction of thrilling growth prospects for the upcoming years:
- in the end of 2023, the global AI market was valued around $196 billion (+$60 billion compared to 2022) and generated a revenue of almost $71 billion;
- the AI industry is expected to expand by 13x times by 2030, at a CAGR of 38%;
- the AI market might generate a revenue of more than $94 billion in 2024;
- 83% of companies state that implementing AI in business activities is a top priority and 48% of them already use some kind of AI effectively;
- large players like Netflix generate at least $1 billion revenues annually from AI-based automated personalized recommendations;
- 38% of medical solutions include AI algorithms and tools to support diagnosis;
- at least 97 million people will work in the AI space by 2025.
No wonder that AI potentially paves the way for new interesting opportunities, according with the most cutting-edge innovations for the development of this industry. What could be the next top trends for Artificial Intelligence in 2024? Let’s check them out!
AI 2024 trend no.1: Generative AI
First of all, in 2024 the industry of Artificial Intelligence is going to cross the so called next generation of Generative AI, for sure the most exciting side of this technology. In fact, over 2023 the large diffusion of AI-based tools, such as chatbots and image creators, brought to light the massive potential of Artificial Intelligence when it comes to generate new ideas and outputs simply starting from human inputs.
Generative AI can support a lot of different activities, even the most specialized ones: for example, it can help to quickly and effectively write or rewrite texts, create original pictures and logos or come up with new ideas and concepts within the human-machine conversation (e.g. ChatGPT). In 2024, the possibilities related to Generative AI may significantly increase thanks to the development of many other aspects of this industry bound to the other upcoming trends, making room for next gen applications and softwares able to perform even better, faster and smarter.
AI 2024 trend no.2: Multi-modal AI Models
One of the aspects that’s going to revolutionize Generative AI is the development of multi-modal language AI models, with the transition from the mere text-based model to the integration of more types of inputs for prompting and generating new content. This evolution will allow the combination of data and information collected in different formats, including texts, audio, documents, images and audiovisuals via advanced algorithms, in order to make predictions and generate outcomes by synthesizing multimedia data points in a dynamic way.
AI 2024 trend no.3: Open Source AI Models
A key role is going to be played by open source AI models too, empowering the acceleration of AI growth by combining with private proprietary models and setting up a good productivity and cost-efficiency synergy. This solution fosters open innovation activities and enhances the cooperation between organizations, with the share and mutual access to data, tools and technologies to achieve common goals.
In 2024, open AI models are expected to evolve and cross a stunning growth, reducing the gap with the proprietary models in terms of specific use cases, development resources, and data used to train the models. This will provide enterprises with much more options to host AI models in hybrid environments, for example available via cloud or APIs. Moreover, the adoption of open source models can pave the way for some interesting micro interactions by combining different features and capabilities, for the creation of a new experience in the development and use of hybrid and open AI models.
AI 2024 trend no.4: Cloud Native AI Ecosystems
The first kind of hybrid environment to host AI models refers to cloud native AI ecosystems and infrastructures, such as Kubernetes. 2024 might be the key year for the evolution and development of frameworks, tools, and platforms entirely running in cloud to manage models, extend and support integrated cloud native workflows. This efficient solution is going to enable users to develop, train, deploy and scale Artificial Intelligence models efficiently, leveraging the potential of new open source cloud spaces.
AI 2024 trend no.5: API-Driven AI Systems
Similarly, the wide spread of APIs (application programming interfaces) represents the second kind of hybrid environment for hosting AI models. Its potential lies with the capability to simplify the creation of cutting-edge AI-driven applications and facilitate productivity. The implementation of API-driven AI systems also provides users with a suite of custom AI micro services made available by the developers through APIs.
AI 2024 trend no.6: Personalization and Customization
Another key trend for Artificial Intelligence in 2024 regards the possibility of personalization and customization of the use of AI, according with specific use cases and situations. Even though they might seem synonyms, they aren’t. As a matter of fact, AI enables users to leverage tailored solutions to perform the best results possible.
Personalization is what consumers (so users) want nowadays, one of the most appreciated feature of a product or service. AI is not an exception and people want companies to give them more and more real-time personalized experiences, which is possible thanks to AI-based algorithms that analyze users characteristics and behavior and recommend them coherent additional products, services, contents, etc.
On the other hand, company customization is rising similarly to personalization as a trend for businesses to implement tailored Artificial Intelligence tools and systems, designed to handle specific needs. This is going to lead to the development of more efficient and customized AI-driven business solutions to improve the interaction with customers and markets in a strategic way, with an increasing trust on AI for what concerns engagement, operational efficiency and dynamic competitiveness.
AI 2024 trend no.7: Accessibility
One of the most challenging factors of new technologies is given by the possibility to be accessible to all users, no matter disabilities. Thus, accessibility is surely going to be one of most important trends to pursue in 2024 for the development of AI, integrating all that it takes to enable users who suffer from disability to equally access tools, softwares and systems through Artificial Intelligence. Companies can prioritize this delicate issue by running regular accessibility tests with AI accessibility tools that automatically evaluate and repair content, or by implementing AI-supported intelligent chat functionalities that help users to access to more difficult content.
AI 2024 trend no.8: Augmented Working
It’s clear that Artificial Intelligence already changed the way people and organizations work, but the next phase to pursue concerns the so called augmented working, which refers to the possibility to leverage AI as a powerful assistant to expand human intelligence and capabilities in the workplace.
This is already a fact in the medical industry, where AI softwares help doctors to support diagnosis and even improve the efficiency of surgeries; or in the marketing area, helping businesses to handle market data and information and improve promotional strategies; or also in education, enabling teachers and professors to expand the effectiveness of their classes with the implementation of AI tools designed to arrange notes and learning units.
AI 2024 trend no.9: AI Legislation
This trend specifically refers to policy-makers, who are constantly facing the need to regulate the deployment and use of new technologies in order to guarantee correct guidelines to make the most of them and, concurrently, minimize its potential risks (especially in terms of cyber security). In 2023, the European Union has been the first political organization worldwide to address AI legislation as a priority, as the European Parliament is working on the EU Artificial Intelligence Act, the primary AI legal framework that will define regulations and obligations of this technological industry.
AI 2024 trend no.10: AI Ethics
Last but not least, the fascinating trend concerning AI ethics. It refers to a double-edged factor, related to the ethical development and training of AI models and, on the other hand, the ethical use of AI tools. Here, transparency is key, as Artificial Intelligence becomes ever more integrated into everyday life of businesses and common users. 2024 is going to be the year to develop safer systems designed on safety protocols and ethical standards, pursuing the goal of making AI a technology for the good of humanity.
