Our AI predictions for 2024

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Welcome back, Superhuman

It’s a new year and the expectations for what AI can deliver over the next 12 months are sky high. Today we’re sharing our predictions for the top 5 AI trends to watch in 2024.

TODAY’S MENU

• 5 AI trends to watch in 2024 — our predictions

• Chart: A timeline of generative AI video

• How to create videos with ChatGPT

• The biggest deals in AI this week

• 5 new AI tools to boost your productivity

• AI Generated Images: Marble Busts

NEWS

Today in AI & Tech

• Rapid Growth: OpenAI’s annualized revenue reportedly tops $1.6 Billion.

• Harsh News: Google could layoff 30,000 employees to focus on AI.

• Good Boy: LG developed a two-legged AI-powered robot that can keep an eye on your pets.

• Coming Soon: Some of the Samsung Galaxy S24's key AI features have been leaked.

• Coding Pal: GitHub makes Copilot Chat generally available.

NEXT IN AI

5 AI trends to watch in 2024 — our predictions:

1. AI-generated video becomes a reality

If 2023 was the year of AI-generated text and images, 2024 is the year that AI video models go from fun experiments to mature products like ChatGPT that produce lifelike results.

Pika 1.0 is an early glimpse into what’s possible here, with its ability to generate high-quality short clips with text prompts. OpenAI engineer Andrej Karpathy predicts it’s only a matter of time before video models make the same leap as text and image models.

2. AI will become an essential skill for job seekers, as employers rush to adopt AI

Morgan Stanley predicts that AI will affect 40% of the workforce in the next 3 years. Another survey from Amazon found that 75% of employers looking for AI-qualified talent are having trouble finding candidates. And research firm Forrester expects 60% of workers will use their own AI to perform their job and tasks in 2024.

As the demand for AI-savvy talent heats up, workers will start upskilling rapidly to improve their career prospects. ChatGPT will appear as frequently as Excel in resumes for most white-collar jobs.

3. AI will unlock new use cases for smartphones, as more efficient models enable AI features on smaller devices

So far, most of the big AI products have only been accessible on-desktop or in-broswer due to the large amount of compute power required to run the models behind these products. But as smaller and more efficient models like Google’s Gemini Nano make progress, expect many AI workloads to be processed on-device in smaller devices. These advances will unleash a whole set of new AI-powered use cases for smartphones.

4. AI models will become smaller, cheaper and multimodal

Many of the top AI models like OpenAI’s GPT series started the year as text-only models and ended it as multimodal models that can process and produce images, audio and even video in some cases. As models get more capable, expect multimodality to become more intuitive and commonplace this year.

While models like GPT-4 and Gemini will compete for the top-end of the market, we’ll also see the rise of smaller, cheaper and more specialized models like Microsoft's PHI-2 and Mistral 7B that can run on cheaper hardware and are targeted to specific use cases.

5. Expect drama — a lot more drama

The exponential rise in the capabilities of AI models in 2023 was equally matched by the controversy and drama that came alongside it. From OpenAI’s firing and rehiring of Sam Altman to several high-profile court cases, the stage is set for another dramatic year in AI. Here are some fault lines that might erupt over the coming months:

• OpenAI’s board is yet to take final form, as uncertainty looms over what is arguably the biggest company in AI.

• Google’s Gemini Ultra model is also yet to be released, already causing much debate about its capabilities compared to GPT-4.

• Apple is yet to announce a major AI product. An announcement here could shake things up in a big way.

• As new alternatives emerge, the transformer architecture may be challenged as the dominant framework for building AI models.

• Depending on the verdict of several key court cases and major new legislation, the pace of progress in AI may see significant acceleration or deceleration.

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CHART

2023 was the breakout year for AI video models. The industry went from zero publicly available video models to dozens by the end of the year.

AI AT WORK

How to create videos with ChatGPT

• Go to the ChatGPT website and log in.

• Now, go to the explore tab and search for VideoGPT by VEED or head over to VEED.IO/videogpt 

• Click on let’s create a video!

• Enter the video description that you want to generate and give additional details.

• You will get a link to your video and when you click on the link it will open as an editable video project from VEED.

• You can edit the video to match your needs and export it easily.

For the example above, i used the following prompt:

A horse running in a field on a happy, sunny day

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FUNDING & ACQUISITIONS

The Biggest Deals in AI this Week

• Replicate raises $40 million for its library of Open Source AI models. Read more →

• Sydney-based generative AI art platform Leonardo.Ai raises $31M. Read more →

• EnCharge raises $22.6M to commercialize its AI-accelerating chips. Read more →

• Five-month-old Indian AI startup Sarvam scores $41 million funding. Read more →

• Startup Armada is bringing AI to remote places, using SpaceX Starlink satellites. Read more →

AI GENERATED IMAGES

Marble Busts

prompt: a bust of (insert name) with marble, in a museum --v 6.0

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Thanks for reading.

Until next time!

Zain

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