In 2023, the world witnessed a surge in AI innovation, marked by a 40% increase in global investment, earning it the title of 'AI's breakout year.' As we step into 2024, the focus shifts to how AI adoption will unfold in the coming months. Non-tech companies are expected to embrace AI to cut costs and enhance productivity, while ethical considerations take center stage, addressing issues like misinformation and biases.
Kesava Reddy provides an in-depth analysis of the topic in his article on ChannelTimes. You can read it here.
Let’s tap into the wealth of insights he offers and engage in a comprehensive discussion on this important subject.
Smaller, Open-Source AI Models
A significant trend in 2024 will be the adoption of smaller open-source AI models by enterprises. The shift from trillion-parameter models to more accessible ones is driven by the need for efficiency.
‘In one seminal paper, DeepMind’s 70 Bn parameter Chinchilla model outperformed the 175 Bn parameter GPT-3 by training on five-times the data. Meta then used the same approach to train smaller models like Llama 2 (7 Bn, 13Bn and 70 Bn models) and released them open source.’ - Kesava Reddy
Companies like Meta and Mistral are paving the way by releasing smaller models, promoting accessibility for businesses of all sizes.
AI Adoption in India Driven by Indic-Language LLMs
India's linguistic diversity presents a unique challenge and opportunity for AI adoption.
‘Around 30 languages in India are spoken by over a million people each. If we could unlock the capabilities of Generative AI for Indian languages, we could create significant positive impact by enhancing communication, inclusivity, and accessibility across our diverse linguistic landscape.’ - Kesava Reddy
Initiatives like OpenHathi and Bhashini aim to unlock the potential of generative AI for Indic languages, fostering inclusivity and accessibility across the vast linguistic landscape.
Revolutionizing the Creative Process in M&E Industry
Generative AI disrupts the creative process in the media and entertainment industry, democratizing content creation. Technologies like Stable Diffusion and AudioCraft empower professionals to produce sophisticated artwork, animation, and music more efficiently.
‘Smartphones, streaming services, 3D animation technologies, immersive audio technologies, have all helped create the kind of movies, shows and content we have come to expect today. However, with Generative AI, the bar moves a notch higher.’ - Kesava Reddy
This shift is expected to integrate Generative AI into the creative workflow, creating new and innovative forms of content.
Coding Assistants in Every Programmer's Workflow
Open source AI models like StarCoder and Mistral are making AI coding assistants more accessible, allowing enterprises to offer developers secure and fine-tuned assistance.
‘Studies have shown that AI assistants can reduce development time by up to 25% by automating repetitive tasks like boilerplate code generation and finding relevant libraries.’ - Kesava Reddy
The integration of AI coding assistants into development workflows is anticipated to increase in 2024, reducing routine tasks and enhancing overall efficiency.
Conversational AI Empowered by LLMs
The emergence of large language models (LLMs) facilitates the transformation of customer service through Conversational AI. These AI-powered chatbots can understand complex queries, offer personalized responses, and handle routine inquiries, freeing up human agents for more intricate issues.
‘With the emergence of LLMs and AI technologies like Vector databases, Knowledge Graphs, developers can now build sophisticated Conversational AI platforms that are grounded in the knowledge-base that the company already has.’ - Kesava Reddy
Expect to witness a broader range of applications in 2024, from trip planning to 24/7 assistance.
Integrating Text, Images, and Audio
Multimodal AI, integrating text, images, and audio, is set to become standard practice. This approach enhances AI systems' accuracy and robustness, enabling creative applications such as generating text from images or composing music from text.
‘This enables better inference, richer interaction, and therefore, can be used in a wide range of creative applications, such as generating text from images, composing music from text, and designing products based on user preferences.’ - Kesava Reddy
The natural integration of multiple data modalities aligns with how humans interact, opening up diverse possibilities in 2024.
Insights into AGI Progress in 2024
While achieving Artificial General Intelligence (AGI) remains a formidable challenge, 2024 may witness strides in confined, sandboxed environments. Hybrid architectures combining various AI paradigms could lead to domain-specific AGI models, offering glimpses of understanding simulated environments or mastering specific tasks.
2024 promises to be the year when AI fully embraces mainstream applications. From enhancing enterprise operations to creating novel content formats, breaking language barriers, and fostering richer interactions, AI is bound to make the world more interesting and better-connected this year.