What can we expect from AI in 2024?

23rd January 2024

It’s been just 14 months since the launch of ChatGPT in November 2022 and, although certainly not the first AI-based software to be launched, it can probably take the credit for all the attention the technology attracted in 2023. 

As a result, last year was a big year for artificial intelligence and Large Language Models (LLMs). ChatGPT 4.0 was launched in March, and use of generative AI became ‘widespread’ according to McKinsey’s The State of AI in 2023 report.

With that in mind, 2023 might be a tough act to follow. So what can we expect from AI in 2024?

Continued technical advancement

AI technology developed rapidly in 2023 and this year should be no different. In 2024 we’ll likely see a lot more technical advancement and product launches. For example, at this year’s Consumer Electronics Show (CES) we’re expecting to see:

• Samsung debut an AI-equipped refrigerator
• LG launch an AI robot as part of their Smart Home product, as well as a 98-inch QNED TV with AI-driven picture enhancement
• A generative AI launched by Nvidia

We’re also expecting the launch of ChatGPT 5 this year, which will advance that particular product, as well as the software that leverages it, even further.

AI will become more ubiquitous

AI technology really came to the fore in 2023. In terms of practical use though, two thirds of businesses still weren’t using it. However, there has been limited conscious use of AI outside of the workplace, where some businesses have started introducing tools like ChatGPT or image generators. We may well have used it unconsciously though, for example via social media platforms or other digital services that leverage it in the background.

However, this year it’s likely that AI will become the ‘new normal’, and will be ubiquitous across different industries and in the home, driven by huge investment in the technology that is likely to hit $200 billion globally by 2025.

But we’re not all being replaced yet

Despite the advancements made by AI in 2023, the technology is a long way from being able to replace human employees in any significant way.

The generative AI developments of last year saw many business leaders excitedly investing time and resources into researching its capabilities in a bid to realise ‘efficiencies’ and ‘productivity’ improvements. Translation: reducing their employee overhead.

However, despite further technological improvements in 2024, we can expect somewhat of a reality check this year, as the limitations of the software become more obvious the more businesses and individuals use it.

That’s not to say there won’t be any impact on the jobs market at all. The World Economic Forum is forecasting a net loss of 14 million jobs over the next five years, and no doubt we’ll see some of that this year.

Introduction of new AI legislation

AI technology is moving incredibly quickly and is set to have a major impact on a wide range of sectors. As a result, governments around the world are scrambling to introduce new legislation to govern its use. Industry experts predict there might also be the establishment of dedicated bodies or institutions specifically focused on AI.

The world’s first comprehensive AI legislation is coming in the form of the EU’s AI Act, with a provisional agreement reached on 9th December 2023. The AI Act establishes obligations for service providers and users dependent on risk, and also defines what ‘high’ and ‘unacceptable’ risk from AI looks like. Unacceptable risk includes cognitive behavioural manipulation, social scoring and biometric identification.

In the US state of California, specific legislation targeting deepfakes has been enacted.

Expect to see more new legislation debated and brought into effect over the next 12 months.

AI’s impact on Digital Asset Management

Digital Asset Management systems are already using AI—for example, ResourceSpace has been using image recognition technology to automatically suggest metadata for a few years, while we launched an integration with OpenAI with our GPT plugin in January 2023—but the use of AI and machine learning will only grow this year. This could include:

• Saving time when uploading assets by automating certain tasks, such as tagging and categorisation. As mentioned above, ResourceSpace is already capable of doing this, but watch this space for further AI developments related to this.
• Use of generative AI in DAM, with the potential to generate brand-consistent content depending on location, audience or other factors. Again, we’re leveraging generative AI already. ResourceSpace integrates with OpenAI’s GPT language model, allowing our users to process text in an input field and automatically produce a result. In November, we extended this functionality to allow the source for the output to be the image itself. ResourceSpace users can now tell GPT what to produce directly from an uploaded image.

READ MORE: How ResourceSpace is leveraging AI

If you want to stay ahead of the curve you need to be considering how AI could impact your business and your industry in 2024, whether that’s in regards to your Digital Asset Management platform, IT infrastructure or how you create marketing content.

To find out more about how ResouceSpace is currently using AI, follow the link to our blog above. Alternatively, drop us a line or book a free 30-minute tour of our platform. One of our DAM experts will guide you through the functionality we offer and explain how it can benefit your organisation.