AI&YOU#35: Our 10 AI predictions and trends for 2024 + companies to watch

Stat of the Week: By 2025, 30% of outbound messages from large organizations will be synthetically generated, up from less than 2% in 2022. (Gartner)

In this week’s end-of-year edition, we are wrapping up 2023 by exploring some of the enterprise AI trends you need to pay attention to in 2024.

  • Skim AI's 10 Predictions for 2024

  • 5 Generative AI Companies to Follow in 2024

  • 10 Generative AI Trends to Watch in 2024

AI&YOU#35: Our 10 AI predictions and trends for 2024 + companies to watch

As we step into 2024, the landscape of artificial intelligence is undergoing a seismic shift, ushering in a future rich in innovation and challenges. The year 2024 is poised to be a defining moment in AI's history, with groundbreaking developments reshaping everything from content creation to search engines, and stirring regulatory and ethical debates. To close out the year, we delve into ten pivotal AI trends and predictions that are set to redefine the AI landscape, offering insights into the transformative power and potential pitfalls of these rapidly evolving technologies.

1. The Year of Multimodal and Interactive AI

In 2024, AI transcends its limitations by blending text, images, and voice, creating more multimodal, interactive experiences. Innovations like OpenAI's DALL-E and ChatGPT Vision pave the way for more intuitive AI interactions, transforming how we engage with technology.

2. Increased Investigations into OpenAI

OpenAI faces increased scrutiny from regulatory bodies in both the United States and other countries, highlighting a global trend towards more stringent oversight of AI’s growing influence and competitive dynamics in the industry.

3. Microsoft’s Ascent in AI

Microsoft solidifies its position as a key AI player in 2024 through strategic alliances, notably with OpenAI, and the development of custom AI chips. Their AI-focused products signal a strong commitment to leading in the AI technology sphere.

4. AI Revolutionizing Film Industry

The film industry sees a paradigm shift in 2024 with tools like generative AI video transforming traditional roles and processes. This trend raises critical ethical questions about the use of deepfakes and the preservation of creative integrity in AI-driven filmmaking.

5. AI Replacing Human YouTubers

AI's evolution in content creation leads to a significant change in YouTube's landscape, with AI tools increasingly replacing human creators. This trend is most pronounced in content segments requiring minimal creator-viewer interaction, signaling a new era for digital content.

6. Perplexity AI Dominating Generative Search

2024 marks Perplexity AI's emergence as a major player in generative search, challenging established giants like Google. Its superior natural language processing capabilities enable it to deliver precise and contextually rich search results, reshaping the digital search experience.

7. Increased AI Regulation and Copyright Lawsuits

The year 2024 is pivotal for AI regulation and copyright issues, with new policies like the EU's AI Act and US initiatives aiming to provide a structured framework for AI’s ethical and secure deployment, reflecting a global shift towards responsible AI governance.

8. Rise in AI Scams and Deepfakes

The growth in generative AI technologies brings a corresponding rise in AI-generated scams and deepfakes, presenting new challenges in maintaining digital security and authenticating information, highlighting the need for advanced detection and prevention strategies.

9. Midjourney, Runway, ElevenLabs as Household Names

Midjourney, Runway, and ElevenLabs gain widespread recognition in 2024 for their unique AI-driven capabilities in image and voice generation, becoming integral to various applications and influencing public perception of AI's potential.

10. Surge in Popularity of ChatGPT and LLMs

The popularity of platforms like ChatGPT and other large language models surges in 2024, as they become more integrated into digital services and platforms, enhancing public understanding and familiarity with the capabilities and applications of AI.

2024 - The Biggest Year for AI

The year 2024 will stand as a landmark in the evolution of AI, characterized by groundbreaking advancements and increasing societal integration. From the rise of new AI powerhouses in generative search to the profound impacts on content creation and digital security, AI will continue to redefine the boundaries of technology and creativity. As we witness a surge in AI adoption across the global population, the challenges of regulation, ethical use, and safeguarding against misuse will also become more pressing. The year 2024 will mark not just technological progress but a pivotal moment for shaping the future relationship between AI and human society.

10 Generative AI Trends to Watch in 2024

This week, we also explore 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: These models are advancing beyond traditional single-mode functions, integrating diverse data types including images, language, and audio.

  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.

  3. Generative AI in Creative Industries: Generative AI models in 2024 will provide artists with new ways to express their visions, resulting in novel art forms and music compositions.

  4. Chip Shortage Challenges in AI Development: This scarcity of essential hardware components, like GPUs, is expected to pose significant hurdles for major tech companies and AI developers in 2024.

  5. The Rise of Prompt Engineers: These specialists are crucial in 'programming' generative AI systems, crafting prompts to elicit the most effective and accurate responses from AI models.

  6. Generative Video for Content Creation: 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.

  7. Wearable Technology Shifts Into the Mainstream: 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.

  8. Generative Search Redefines Digital Information Access: Powered by advanced algorithms and AI, generative search engines like Perplexity AI are providing more efficient and engaging answers to user queries.

  9. Generative AI Transforming Education: Generative AI tools will be used for a variety of educational purposes, from generating notes and lesson plans to creating comprehensive course summaries.

  10. AI Legislation and Regulation: Countries are set to introduce new frameworks to govern the development and application of AI technologies in the global economy.

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. 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.

5 Generative AI Companies to Follow in 2024

For the year 2024, we're also spotlighting five companies that are not just adapting to but actively shaping the dynamic field of generative AI. Each company brings its unique vision and technological prowess, contributing significantly to the evolution of generative artificial intelligence.
  1. OpenAI: As 2024 unfolds, OpenAI is expected to introduce GPT-5, the successor to GPT-4. This new iteration promises to enhance the language model's capabilities, potentially offering more nuanced and human-like text generation.

  2. Anthropic: In 2024, Anthropic is poised for significant advancements, buoyed by a substantial investment from Amazon. The development of Claude-Next, a model reportedly ten times more powerful than current AI systems, positions Anthropic at the cutting edge of conversational AI.

  3. Midjourney: Entering 2024, Midjourney is poised to redefine the landscape of artificial intelligence imagery, offering users an even richer and more versatile creative experience with their V6.

  4. Perplexity AI: The company is poised to redefine how we interact with digital knowledge and even dominate Google in this realm, making it a critical player to watch in the evolution of generative AI-powered search engines.

  5. Stability AI: With a focus on supplying the open-source community with versatile LLMs for text, audio, and image generation, Stability AI is positioned to make significant strides in the AI industry in 2024.

As we look ahead into 2024, the landscape of generative AI is pulsating with innovation and potential, led by these five trailblazing companies. Each, with its unique expertise and visionary projects, is not only shaping the future of AI but also redefining how we interact with technology in various domains.

Thank you for taking the time to read AI & YOU!

Are you a Founder, CEO, Venture Capitalist, or Investor seeking expert AI Advisory or Due Diligence services? Get the guidance you need to make informed decisions about your company's AI product strategy or investment opportunities. Book your Advisory Call today! Our diverse experience includes building AI solutions for the following industries: Medical Technology, News/Content Aggregation, Film & Photo Production, Educational Technology, Legal Technology & Cryptocurrency. For even more content on enterprise AI, including infographics, stats, how-to guides, articles, and videos, follow Skim AI on LinkedIn.

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