The Artificial Intelligence revolution started long ago and it is no surprise that Artificial Intelligence jobs are now the fastest-growing jobs. Whether we are talking about small startups or MNCs, everyone is investing time and money to leverage the power of AI to enhance business operations and bring in profits. If you are a student looking to start a career in AI or a business looking to invest in it, you must be confused about where to start. Check out the following article that lists the top AI trends that you must look out for in 2024.
Here, we will explore the different AI trends that have come to the forefront to help you find opportunities that will help you excel. So, what are you waiting for? Jump right into this article and start learning about the AI trends that you must keep an eye out for.
Natural Language Processing Driving New AI Use Cases
Out of the numerous AI trends available, Natural Language Processing (NLP) is one of the most promising fields that has several use cases. The world is full of content, mainly text, and it is essential for businesses to analyze, format, and translate these content pieces to utilize them.
This is where NLP comes in handy and undoubtedly works better than the traditional statistical methods in use. You can think of NLP as a way that allows computers to speak the human language and better communicate. Previously, we could only communicate with computers via code, but with NLP, machines can gain insights from text that is in its naturally-occurring format.
A report on Statista shows that the total amount of data in today’s world can reach 612 zettabytes by 2030 and cross 2142 zettabytes by 2035. Keep in mind that a lot of this data is human readable data which can be used to determine sentiment, classify it, extract keywords to understand meaning, and analyze it for details. This is how NLP provides computers with an efficient way to analyze and gain insights from enormous amounts of data.
Tech Giants Rushing To Develop Powerful AI Searches
Another remarkable application of NLP is the implementation of AI search which helps people easily find content online. These models utilize large language models (LLMs) which analyze large amounts of information to “learn” from it. So what it essentially does is recognize patterns to predict words and phrases that sit well together.
The effect is that when a person types a search query in natural language, the AI search model makes predictions of the sequence of human language used to form the answer. This enables the tool to provide users with written answers that were derived from multiple sources, instead of providing them with a list of relevant websites to visit. These types of learning models are extensively being used by ChatGPT and make them capable of answering board questions.
In this way, AI search can be thought of as another form of generative AI that is used to help create content like images, code, audio, and texts. After ChatGPT gained popularity, major tech players started investing in this AI sphere to compete with the model. Salesforce’s Einstein GPT is set to help automatically generate marketing emails to be sent to sales leads as a great monetization element.
Microsoft also entered the field with its AI-powered Bing version in early 2023; the company claims that it is set to be more accurate and faster since it is specifically built to cater to searchers. Another AI search tool that industry leaders and experts must keep an eye out for is Google’s Bard.
Revolution Of The Healthcare Industry
After the COVID-19 pandemic, the healthcare industry has witnessed major revolutions, and with AI, the industry saw more changes over this last year. According to a report, approximately 90% of hospitals have an AI strategy in place, while 75% of hospital executives admit that AI initiatives are crucial.
With the combination of AI and ML, a lot of hospitals are utilizing tools and platforms that help them speed up several hospital processes. This includes numerous tasks like scanning handwritten data into text via an online platform, recording patient-doctor consultations to convert them into text notes, and identifying patients for research studies.
Since AI helps hospitals boost operational efficiency, we can consider that it will help them manage their daily tasks with a smaller workforce. Some other healthcare fields that can be disrupted by AI’s raw potential include – drug development, research and development of medical aids, diagnosis of diseases, and personalization of treatment plans. This is why a lot of drug companies and hospitals are investing in AI to ensure that they can reap the benefits.
Much of the data used to train generative AI is subject to intellectual property protection. Legislatures and courts around the world are busy deciding where fair use ends and copyright and trademark infringement begin. Be sure to consult a dedicated Web3 attorney to ensure your use of AI won’t get you sued.
Enhanced Regulations To Ensure Ethical Use Of AI
Since most AI systems and tools are developed based on large amounts of data, there are huge security risks associated. If you think about it, there are chances that this data can be inaccurate, get corrupted, or even be inappropriate. This could not only affect the model’s output and quality but can also lead to huge errors and mishaps in the future.
Moreover, the current AI technology lacks transparency which can be quite crucial. AI has also started replacing humans at their jobs which has caused a lot of concern among people. This means that the potential of AI needs to be harnessed and more and more regulations concerning the ethical use of AI can be expected to be put in place in 2024.
AI As An Accessory For Education And Learning
Similar to the innovations in healthcare, AI has disrupted the education and learning field after the COVID-19 pandemic. It has not only changed the way that educators teach but has also changed the way in which students learn and consume educational content. After the release of ChatGPT, it became quite easy for students to generate their essays and academic assignments without putting in the hard work.
Although this had educators worried, ChatGPT is reportedly working on a type of digital watermark that would embed itself in all content produced by the model. On the other side of the coin, a lot of educators advocated the use of AI tools to enable seamless learning and education. A lot of teachers are reportedly using tools like Character.ai and Prof Jim to revolutionize teaching.
Character.ai is a chatbot that provides users the opportunity to chat with AI-generated characters (suppose Winston Churchill) and ask them questions. Prof Jim is an AI model that allows users to scan textbooks and put the information online as an immersive online lesson with animations.
Business Efficiency With The Help Of Computer Vision
Never heard of Computer Vision? Well, it is one of the most interesting AI trends that allows computers to analyze and interpret information from images, videos, and other content, and then act on it. Nowadays, computer vision systems are more accurate than humans and have a quicker processing speed.
However, computer vision is not a new concept and has been around since the 1950s. With the advent of deep learning and artificial intelligence, computer vision is now capable of being used in numerous systems and has several applications. Computer vision allows manufacturers to increase operational performance and efficiency.
It also helps reduce staffing numbers and detect anomalies in the complete manufacturing process. With computer vision, you can track and monitor every step of the production cycle to find errors and better it as much as possible. Computer vision is also being deployed in systems that are capable of responding to natural disasters and climate change issues.
With so many companies investing in AI, there are numerous AI trends that we can keep an eye on. The above article lists the top AI trends that you must keep an eye on and invest in as soon as you can. We hope the above article provided you with a headstart with the top AI trends that will revolutionize industries in 2024.