TLDR: 2024 to witness a surge in generative AI, with advancements in audio/video applications, specialized models, increased accuracy, wider adoption, and significant tech industry impact.
This article is a summary of a YouTube video “Why generative AI will be a ‘big deal’ in 2024” by Yahoo Finance
Key Takeaways:
- 2024 AI Expansion: Generative AI will evolve and expand significantly in 2024, building on the revolution started by OpenAI’s ChatGPT.
- Beyond Text and Image: The emergence of audio and video-based AI applications, moving beyond current text and image platforms.
- Specialized AI Models: Development of AI models tailored for specific use cases, such as weather prediction and security.
- Improved Accuracy and Reduction of Hallucinations: Focus on enhancing the accuracy of AI platforms and reducing errors like presenting false statements.
- Wider Adoption in Everyday Use: Generative AI will become more commonplace in various sectors including middle management and small businesses.
- Consumer Electronics Show (CES) Expectations: Generative AI will likely dominate the discussions and innovations at CES.
- Semiconductor Competition and Innovation: Companies like Nvidia, AMD, Intel, and Qualcomm are expected to drive advancements in AI-related semiconductor technology.
- Integration in Consumer Devices: AI capabilities will be increasingly integrated into consumer electronics like PCs and smartphones.
- Industry Shake-Up and Consolidation: Bigger tech companies will dominate the AI landscape, with a shift towards foundational model development being costly and challenging for smaller players.
- New Technologies and Partnerships: Introduction of new technologies like ‘retrieval augmented generation’ and strategic partnerships among major tech companies.
