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Joaquim Cardoso MSc.
Chief Research and Strategy Officer (CRSO),
Chief Editor and Senior Advisor
December 19, 2023
What is the message?
The year 2024 marks a significant evolution for generative AI (GenAI), transitioning from the hype of 2023 to a phase of maturity and increased functionality.
Experts predict a departure from the era of large language models to the rise of smaller, more efficient models. Simultaneously, regulatory frameworks will continue to advance, impacting enterprise adoption.
Amidst these changes, the central message is the imminent maturity of GenAI, with a focus on practical applications, enhanced productivity, and the influence of regulatory shifts.
One page summary
What are the key points?
Evolution Beyond Hype:
Experts anticipate 2024 as a pivotal year for GenAI, characterized by substantial growth and development. Analyst Mike Leone emphasizes a departure from the “trough of disillusionment,” with the technology poised to deliver tangible productivity enhancements.
Shift to Smaller Models:
Usama Fayyad, Executive Director of The Institute for Experiential AI, predicts a significant shift away from large language models. The industry is recognizing that bigger does not always mean better; smaller models are highlighted for their cost-effectiveness, portability, and ease of maintenance and revision.
Regulatory Developments:
Ricardo Baeza-Yates, Director of Research at The Institute for Experiential AI, underscores the evolving regulatory landscape. While the EU is already implementing AI policies, expectations loom for additional countries, including China, to join this regulatory trend. A notable emphasis is placed on moving from opaque “black box” models to more understandable “grey models” for increased transparency.
What are the key strategies?
- Embrace Smaller Models: Enterprises are advised to shift towards smaller AI models, prioritizing cost-effectiveness, portability, and ease of maintenance and revision.
- Navigate Regulatory Changes: Organizations should proactively monitor and adapt to the evolving regulatory landscape, preparing for potential shifts in cost structures and compliance requirements.
- Prioritize Explainability: The industry is encouraged to move towards “grey models” that offer a level of transparency and understanding, aligning with emerging regulatory trends and addressing concerns around the opacity of traditional “black box” models.
What are the key examples?
- Mike Leone’s Insight: Mike Leone, an analyst at TechTarget’s Enterprise Strategy Group, anticipates a seamless transition from hype to productivity improvements in 2024, signaling the practical maturation of GenAI.
- Usama Fayyad’s Perspective: The move toward smaller models is emphasized by Usama Fayyad, Executive Director of The Institute for Experiential AI, who highlights the advantages of cost-effectiveness, portability, and ease of maintenance.
- Ricardo Baeza-Yates on Regulation: Ricardo Baeza-Yates, Director of Research at The Institute for Experiential AI, points to the regulatory landscape, with a focus on the EU’s existing policies and the expected participation of countries like China, reinforcing the need for compliance readiness.
Conclusion
The year 2024 is positioned to be a transformative period for generative AI, marked by practical advancements and regulatory shifts.
Enterprises must adapt to the trend of smaller models, navigate evolving regulations, and prioritize transparency.
The maturation of GenAI presents opportunities for increased efficiency, cost-effectiveness, and a more accountable and understandable AI landscape.
DEEP DIVE
This summary is based on the article “2024 will see generative AI mature”, published by TechTarget and written by Esther Ajao and Shaun Sutner, on December 18, 2023.
To read the original publication, click here.
