10 Gen AI Trends 20204

10 Generative AI Trends to Watch For in 2024

As we step into 2024, the generative AI landscape is evolving rapidly, introducing a spectrum of trends that promise to revolutionize technology and its applications. This blog delves into the most significant generative AI trends for 2024, showcasing how they’re set to transform various sectors and redefine our interaction with digital realms. From multi-modal AI models to AI-powered digital employees, these trends highlight the innovation and potential of generative AI in the coming year.

Here are Skim AI’s 2024 generative AI trends to watch:

1. Multimodal AI Models

The trend towards multimodal models in 2024 marks a significant shift in generative AI capabilities. These models are advancing beyond traditional single-mode functions, integrating diverse data types including images, language, and audio.

Versions of multimodal models like OpenAI’s ChatGPT Vision and Meta’s integrative models are prime examples of this trend. They demonstrate an ability to understand and interpret complex data in a manner akin to human cognition, making generative AI more intuitive and versatile. The multi-modal approach in generative AI for 2024 signifies a leap towards more dynamic and contextually rich AI interactions.

2. AI-Powered Digital Employees and Expert Workers

Generative AI in 2024 is set to redefine the workplace with the emergence of AI-powered digital employees and expert workers as enterprise applications. These advanced personal assistants, integrated into company platforms, are revolutionizing task management, scheduling, and communication in business operations.

Large language models such as GPT-4 are paving the way for AI to execute tasks beyond mere information processing, enabling real-world functionality. The role of digital employees in 2024 is expected to go beyond administrative assistance, becoming integral collaborators that enhance productivity and innovation in the workplace. This trend underscores generative AI’s potential to augment human intellect and streamline workplace dynamics.

3. Generative AI in Creative Industries

In 2024, the creative industries are set to witness a remarkable surge in generative AI tools and applications. This trend is revolutionizing traditional creative processes in art, music, and design. Artists and designers are increasingly leveraging AI technologies not only as tools for inspiration but also as collaborators in the creative process.

Generative AI models in 2024 are expected to provide artists with new ways to express their visions, resulting in novel art forms and music compositions. This trend signifies a blend of human ingenuity and AI-driven innovation, pushing the boundaries of creativity and opening up new avenues for artistic expression.

4. Navigating Chip Shortage Challenges in AI Development

One of the critical challenges in the generative AI space in 2024 is the impact of chip shortages on AI development. This scarcity of essential hardware components, like GPUs, is expected to pose significant hurdles for major tech companies and AI developers.

As a response, companies are exploring more efficient AI models that require less computing power, as well as innovative computational methods. This trend reflects the industry’s adaptability and resilience in the face of resource limitations. The ability to navigate and innovate amidst these challenges will be crucial for the continued advancement and scalability of generative AI technologies in 2024.

5. The Rise of Prompt Engineers

The year 2024 will see the rising prominence of ‘prompt engineers’ in the field of generative AI. These specialists are crucial in ‘programming’ generative AI systems, crafting prompts to elicit the most effective and accurate responses from AI models.

This role, often likened to AI whispering, involves a deep understanding of how to guide and optimize the outputs of generative AI models, which can sometimes appear complex and unpredictable. The demand for prompt engineers is expected to grow significantly as more businesses and creative fields adopt generative AI technologies. This trend underscores the nuanced skill required to harness the full potential of generative AI tools.

6. Generative Video for Content Creation

Generative video technology is set to make a significant impact in 2024, particularly in content creation. With video content being increasingly favored, especially among younger audiences, generative AI tools are emerging to meet this demand.

These new tools enable the creation of professional-grade video content at a fraction of the traditional cost and time. The ability to produce high-quality video content without the need for extensive human input is a game-changer, democratizing video production and opening up new possibilities for content creators. This trend in generative AI is expected to transform the landscape of video production, making it more accessible and efficient.

7. Wearable Technology Shifts Into the Mainstream

In 2024, the wearable technology market is set to undergo a transformative shift, moving from traditional wrist-worn devices to smart glasses and goggles integrated with advanced AI capabilities. This trend reflects a significant change in how we interact with technology, integrating AI into our daily visual experiences.

Companies like OpenAI, Meta, Google, and Microsoft are leading this innovation, striving to incorporate AI into their wearable products. These AI-powered devices, like Meta’s experimental Ray-Ban smart spectacles, are expected to offer real-time analysis and responses to visual queries, enhancing practical applications ranging from language translation to complex task assistance. This evolution in wearable tech signifies a major step in blending technology with human perception, bringing us closer to a seamless integration of AI in our everyday lives.

8. Generative Search Redefines Digital Information Access

The generative search trend is set to reshape how we engage with digital information in 2024. Powered by advanced algorithms and AI, generative search engines like Perplexity AI are providing more efficient and engaging answers to user queries.

These platforms, using large language model technology like OpenAI’s GPT, are revolutionizing the traditional search experience by producing informative summaries and answers directly in search results. Google’s Search Generative Experience (SGE) is another notable example of this trend, where generative AI enhances search results with comprehensive and diverse information. As generative search evolves, it will transform the way an individual can find, understand, and utilize information in their professional and personal life, making digital search more dynamic and contextually rich.

9. Generative AI Transforming Education

The impact of generative AI in educational settings is becoming increasingly prominent and will continue to grow in 2024. This trend involves a shift in how students and educators interact with technology in the classroom, ushering in an era of personalized learning experiences.

Generative AI tools will be used for a variety of educational purposes, from generating notes and lesson plans to creating comprehensive course summaries. Despite potential debates about over-reliance on this technological development, similar to past concerns about electronic calculators, generative AI is expected to enhance the learning experience, enabling students to engage with more advanced material at an earlier age. Educators will increasingly adopt these tools, recognizing their value in streamlining administrative tasks and enriching the educational content.

10. AI Legislation and Regulation

2024 is poised to be a pivotal year for generative artificial intelligence legislation and regulation. Following initiatives like the Bletchley Declaration signed by 28 countries, a global shift towards prioritizing AI safety and regulation is evident.

Countries are set to introduce new frameworks to govern the development and application of AI technologies in the global economy. In the UK, the government is launching a pilot scheme and the Artificial Intelligence Act 2024, indicating a commitment to regulating AI. Similarly, the EU is implementing landmark rules within the AI Act, which adopts a risk-based approach and could have significant repercussions for businesses involved in AI.

In the US, there is a focus on balancing various concerns, including government use, algorithmic discrimination, national security, and data collection, particularly with the upcoming presidential election. These legislative efforts will require companies to swiftly adapt to new compliance requirements, impacting the global AI landscape.

Shaping 2024 and Beyond

As we conclude our exploration of the top generative AI trends for 2024, it’s clear that we are on the cusp of a new era in technology. From the creative bursts in art and design to the transformative changes in education and digital search, generative AI is not just a technological phenomenon but a catalyst for broad societal transformation. The increasing integration of AI in wearable technology and the workplace, coupled with the impending legislative changes, highlight the expanding influence and responsibilities of AI in our daily lives.

As these trends unfold, they will not only shape the technological landscape but also redefine our interactions, creativity, and understanding of AI’s potential. The year 2024 promises to be a landmark period in the journey of generative AI, setting the stage for even more profound advancements in the years to follow.