2023 Was the Year of AI – what to expect for 2024?

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Joaquim Cardoso MSc.

Chief Research and Strategy Officer (CRSO),
Chief Editor and Senior Advisor

December 31, 2023

Key Points

In 2024, the field of AI is expected to witness significant developments and changes based on the trends and events that unfolded in 2023. Here are the key points and expectations for AI in 2024:

1. Advancements in AI Capabilities: AI tools, like ChatGPT and its competitors, are anticipated to become more potent, generating even more realistic content based on simple prompts. The capabilities showcased in 2023 will likely see enhancements and improvements.
2. Realization of AI’s Actual Capabilities: Despite the hype surrounding AI, there will likely be a more realistic understanding of the true capabilities and limitations of these tools. This could potentially dampen some of the exaggerated expectations seen in the past.
3. Disruption Across Industries: New use cases of AI will continue to disrupt various industries. AI agents capable of performing complex tasks with minimal human intervention, such as trip planning or supply ordering, may become more prevalent.
4. AI in Entertainment: The pace of AI advancements might lead to fully AI-generated movies and musical performances. However, this could also mean the rise of more automated bots spreading hate and misinformation, prompting greater public scrutiny, potential regulation, and legal actions.
5. Regulatory Scrutiny and Lawsuits: The increasing impact and potential risks associated with AI will likely lead to more regulatory scrutiny, with governments aiming to establish guidelines and regulations for the ethical and safe use of AI. This could also lead to an increase in lawsuits related to AI use and implications.
6. Key Events of 2023: Notable events from 2023, such as significant investments in AI companies like OpenAI, emergence of new AI systems and challengers, legal battles, regulatory actions, and market movements (like Nvidia’s success), will continue to influence the landscape of AI in 2024.
7. Global AI Competition and Collaboration: The competition between major AI players from various countries, like the claims made by Baidu about its AI capabilities, and the efforts by companies like Meta, Google, and Microsoft to advance their AI technologies, will drive innovation and international collaboration in AI research and development.
8. Leadership Changes and Strategic Alliances: Changes in leadership positions within AI companies, strategic alliances, partnerships, and investments made by tech giants and influential figures (like Elon Musk, Reid Hoffman, Bill Gates) will continue to shape the direction and dynamics of the AI industry.
9. Increased Awareness and Responsiveness: Overall, there will likely be increased public awareness of AI’s impacts, leading to more responsible development and deployment of AI technologies, emphasizing ethical considerations, transparency, and accountability.

These expectations suggest a year of continued growth, innovation, challenges, and increased scrutiny for AI in 2024, driven by technological advancements and evolving societal and regulatory landscapes.

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