What to Expect from Artificial Intelligence (AI) in 2024 - Main AI Trends for 2024
There is no doubt that artificial intelligence (AI) is a revolutionary field of computing science that is poised to become a major component of various new technologies such as big data, robotics, and IoT. It will continue to act as a technological innovator in the coming years. In just a few years, AI has gone from fantasy to reality. Machines that help people with intelligence are not just in science fiction movies, but in the real world as well. We are now living in a world of artificial intelligence that was just a story for a few years.
Projected size of the global AI software market. Source.
This topic will discuss the future of AI in 2024 and its impact on human life, that is, whether it is a great technology or a threat to humans.
Before we delve into AI in the future, let's first understand what artificial intelligence is and where it currently stands. We can define AI as "the ability of machines or computer-controlled robots to perform intelligence-related tasks." So, AI is a computer science that aims to develop intelligent machines that can mimic human behavior.
Three types of artificial intelligence. Source.
There has been a revolution in industries in all sectors with the development of AI, and people are afraid of losing their jobs because of the growing development of AI. But AI has actually created more jobs and opportunities for people in every sector. Any machine needs a human to operate it. Nevertheless, AI has taken on some roles, but has gone back to creating more jobs for humans.
As discussed above, AI can be divided into three types: Weak AI, which can do certain tasks, such as predicting the weather. General AI; Able to perform a task just like a human, Super AI; AI capable of performing any task better than a human.
Currently, we use a weak AI that performs a certain task and improves its performance. On the other hand, general AI and Super AI have yet to be developed, and research is ongoing. They will be able to perform various tasks similar to human intelligence. However, such AI is far from being developed and it will take years or centuries to create such applications. Moreover, the effectiveness of such AI, whether it will be better than humans, is not predictable at the current stage.
People also have the misconception that AI does not need human intervention. But the fact is that AI is not yet evolved to make its own decisions. A machine learning engineer/specialist is required to pre-process data, prepare models, prepare the data set for training, identify systematic error and variance and eliminate them, etc. Every AI model is still dependent on humans. However, once the model is prepared, it improves its performance on its own based on the experience gained.
One of the most common perceptions of AI in popular culture is that of rogue AIs, set against humanity and bent on destroying it.
This idea is often seen in movies, books and TV shows where AI systems gain autonomy and pursue malicious goals. Examples include examples such as:
AI has no emotions, desires or motivations of its own. AI systems are designed and developed with specific goals and objectives in mind. AI behavior is determined by the algorithms and data it is trained on, so developers need to prioritize ethics and safety in the design process.
Most researchers agree that super AI cannot show human emotions such as Love, hate or kindness. Moreover, we should not expect the AI to intentionally become generous or angry. Further, if we are talking about AI being risky, there could be basically two scenarios, viz:
Autonomous weapons are artificial intelligence systems programmed to kill. In the hands of the wrong person, these weapons could easily result in mass casualties. Moreover, the AI arms race could inadvertently lead to an AI war with mass casualties. To avoid displeasing the enemy, these weapons would be designed to be extremely difficult to "turn off," so humans could probably lose control of such a situation. This risk is present even with a narrow AI, but increases as the intelligence and autonomy of the AI increases.
A second possibility of AI as a risky technology is that if intelligent AI is designed to do something useful, it leads to disruptive results. For example, suppose we ask an unmanned car to "get us to our destination as quickly as possible. The car will immediately follow our instructions. It can be dangerous to people's lives until we point out that the rules of the road must also be followed, and we value human life. He may break traffic laws or get into an accident, which we didn't really want, but he did what we asked him to do. Thus, super-intelligent machines can be destructive if asked to accomplish a goal that does not meet our requirements.
Of course, AI is an area that will evolve at a very rapid rate. According to Verified Market Research, the artificial intelligence market is expected to show strong growth over the next decade.
The AI market will cover a myriad of industries such as:
In order for you to be prepared for the development of artificial intelligence in 2024, the Merehead team has prepared the most likely scenarios of AI impact in different sectors. In this section, you will find the main outcomes of AI development and you can use them as advantages.
There was a time in history when there was no cure for tuberculosis. But now we have come to an era where we have a cure for cancerous tumors and deadly body injuries, not to mention tuberculosis! Such successful disease diagnosis is now possible thanks to an improved health care system through artificial intelligence technology. 
Ways to apply AI in medicine. Source.
Now artificial intelligence is used to manage data for organizations using predictive data. With artificial intelligence, organizations can predict their future opportunities for success and profitability.
Navigation has become extremely easy as artificial intelligence has intelligently globalized the world. Nowadays, no daily activity is possible without the use of GPS functions.
Every person who has a smartphone uses the GPS function on their phone, which is powered by artificial intelligence technology. You can even book plane tickets online with the touch of your finger. If you need to track any package, you can do so with GPS technology that works in an artificial intelligence system.
Just like real life and physical security, people's safety is important online as well. Are you an avid Internet user? You can protect your digital footprint online by using the right software so that your sensitive information and important data are not stolen online.
Artificial intelligence in online security. Source.
Since Bitcoin was introduced in 2008, there is still a lot of hype around blockchain. Apart from this, there has also been a growing interest in artificial intelligence recently. Their interaction can benefit businesses and developers alike.
Properties of artificial intelligence and blockchain. Source.
AI can help improve the performance of blockchain networks by automating processes and improving accuracy. AI algorithms can analyze data on the blockchain to identify patterns and anomalies, helping to prevent fraud and other malicious activities.
Blockchain can provide a secure and tamper-proof operating environment for AI algorithms. With blockchain's distributed ledger technology, data is stored on multiple nodes, making it impossible for a single attacker to alter or delete it.
You can use AI and blockchain to develop applications in areas such as finance, gaming, cloud storage or medicine. Over time, blockchain can not only interact with AI, but also accelerate its development.
Gone are the days when manufacturing was not without physical labor. Robotic manipulators controlled by artificial intelligence are used in manufacturing plants to produce machines and other goods. The aviation, machine learning and e-commerce sectors have undergone a complete revolution thanks to machine-oriented manufacturing using artificial intelligence.
Machines with artificial intelligence can perform complex tasks much faster than the physical labor and drudgery of humans. Technology can be revolutionized in many other industries with the help of AI as well.
Today's intelligent weather forecasting is made possible by artificial intelligence technology. Weather reports generated by artificial intelligence technology are much more accurate than forecasts made in the past. Artificial intelligence generates a forecast report about the climate patterns in specific areas. It then generates a future report on precipitation and other climate changes in a particular region. With this technology, you can learn about natural disasters and warn others to prevent further disasters.
Thanks to artificial intelligence technology, everything is at human fingertips. Students can have a better learning experience and can optimize their learning experience. Artificial intelligence-based frameworks are used to develop learning methods and strategies for students.
Institutions can allow students to interact with robot-controlled machines that work with artificial intelligence to help them learn in live lectures. Auxiliary robot agents with artificial intelligence are also designed specifically to help students learn about the best ways to improve learning methods specifically designed for students. AI improves productivity for more than 80 percent of employees.
Nowadays, time efficiency can be achieved through artificial intelligence. Organizations and businesses around the world are saving a lot of money and time in the process of producing their goods. The resources of business organizations can be optimized, and people in business can have better investment opportunities around the world thanks to artificial intelligence technology. Customers can easily track orders for their parcels using artificial intelligence technology. Robotic support agents are used so that customers don't have to wait until a salesperson can interact with a customer.
The largest percentage of a startup's overhead usually comes from payroll. The more you spend on payroll without generating much revenue (a typical startup situation), the higher your burn rate, which gives you less room to grow before you start raising funding, and makes you much less attractive to investors. (Lack of money is responsible for 29% of startup failures.)
While many are wringing their hands about how quickly AI will replace humans (which has been a dilemma at least since the industrial age), it's great for founders who need to save money.
(Another caveat: AI won't do a better job than people with experience, but it will be a much cheaper and bearable substitute until founders get funding. For example, instead of hiring a customer service team to run a hotline, run a chatbot-enabled AI that learns nuances over time, and make sure you have a way to respond to inputs that require human attention).
Beyond simply saving on human capital, AI can help founders save a lot of money by helping them manage the allocation of cash throughout the business. We're already seeing many companies claim to use AI to plug in data from Google Analytics, Meta, AdWords and others. With third-party tools that will provide a much better picture of ROI and effective budget allocation.
There's no doubt that by 2024, founders will not only be able to use AI to allocate marketing budgets, but also integrate properties such as Amazon accounts, 3PL systems, CRM and manufacturing capacity to make better business decisions, reduce returns and address customer churn and prevent excessive inventory overhead.
AI already knows how to save time on universal business initiatives such as copywriting, scheduling social media posts, creating and editing images, and even predicting cash flow. If you don't think it's widely used at the corporate level, consider that three months after its public release, ChatGPT has racked up more than 1 billion hits.
Creative ideas still need to come from people familiar with and invested in the specific benefits of your product or service. However, AI has some powerful creative applications. Once you understand why certain creatives work well, determine what made them work and create edits and iterations to fit specific media channels.
Current tools, especially free ones like ChatGPT, are imperfect; founders will still need resources to monitor the quality of each AI output for red flags. But even a 60 percent mastery of basic business and marketing tasks can provide significant time savings.
Founders rarely hire enough people to fill the necessary skill sets immediately. But the founders of tomorrow can use AI to quickly and efficiently gain a basic level of skills and knowledge.
Another great use of AI for founders is to accelerate the research process and fill knowledge gaps. More than 40% of startups that fail do so because of a misunderstanding of market demand, and you can use AI to stay out of that particular segment.
By 2024, you'll want to make AI a priority in your hiring process. Fluency and the ability to think creatively about ways to use AI will be important.
If you're building software or technology, hire engineers who can use AI to create code, which is more of a black and white arena than a creative one. Paying for manual coding will put you at a disadvantage; your engineering team should use AI as an extension of their skills.
Companies will also see the emergence of a Chief Artificial Intelligence Officer (CAIO) who will strategize and implement AI tools and a vendor stack. Or, at the very least, the CTO should be as focused on this area as possible, lest he fall prey to the innovator's dilemma.
The one thing AI can't help you with (yet) is the original big idea that can change the world. But if you're growing something new and interesting and want to do your best to succeed, it's time to familiarize yourself with AI tools that can help you along the way!
