It’s hard to keep up with the developments in AI since they are so rapid. However, it doesn’t change the fact that artificial intelligence is becoming more and more integrated with our everyday lives, from something close and personalized like Spotify recommendations to something distant and perhaps vague like cloud computing, and VPS Amsterdam, which uses artificial intelligence algorithms for its increased performance and security.
But without further ado, let’s explore the latest trends in AI technology and how artificial intelligence influences our lives.
Latest AI Technology
In 2024, the most prominent trends in AI technology are multimodal AI, generative AI, small language models, and explainable AI.
Multimodal AI
Multimodal AI refers to tools that can do it all: generate a text, create a video and a voiceover, and then advise you on a title. Previous AI models tended to concentrate on one function, whether it’s generating text, images, or videos. In a way, multimodel AI is a manifestation of the process of making AI more human-like since we also process various sensory information at once and produce from it.
Many AI tools are now created with multimodality in mind. ChatGPT-4 can now identify text from images and audio: you can upload a photo and ask it to generate something based on the information it has.
Multimodel AI brings new automation opportunities to finance, marketing, and customer support, since it can analyze patterns, derive insights, and provide better customer data such as demographics and preferences, making products and services more consumer-focused.
Moreover, multimodal AI is what’s leading the natural language processing – a vector of understanding, interpretation, and generation of human speech.
Generative AI
Generative AI, in particular customizable generative AI, is a steady trend in 2024. Niche generative tools help users to personalize products and services, and also improve the security of organizations, due to the greater control options they offer.
Customizable AI tools have already found their application in healthcare. In the financial and legal sectors, they are helpful as well due to the use of specific terminology. However, customizable AI models are expensive to make from scratch, so many take existing generative AI platforms and transform them into more functionally diverse tools.
Generative AI is popular because it’s easy to use and accessible, and has substantial media coverage.
The fact remains: generative AI and its new trend of customization are here to stay and continue their development, making room for more tools able to generate a multitude of content.
Small Language Models (SLMs) and Accessibility
Small language models (SLMs) gain popularity in 2024 thanks to their ability to operate on smaller resource capacity compared to large language models. It doesn’t mean that SLMs significantly lack in terms of features they have, but their design allows them to work better on compact devices.
SMLs are at the forefront of the accessibility trend in AI in 2024, which proves that you don’t need a huge and complicated model for an artificial intelligence tool to work great on different devices.
Ethics and Explainable AI
AI use ethics is a separate trend aimed at bringing awareness to the potential misuse of artificial intelligence. Considering the fact that AI tools can be applied in any critical area, be it healthcare or the justice system, the field of study of AI algorithms arose called explainable AI.
For businesses, this trend means that the decisions and choices AI makes should be studied and then explained to users and stakeholders to promote transparency.
How AI Impacts Our Everyday Lives
The short answer is “significantly”.
Forbes Advisor published a survey, which explores the most common use cases for AI found in customer service, cybersecurity and fraud management, content production, recruitment and talent sourcing, accounting, and audience segmentation.
As of 2024, AI has touched almost every industry, activity, and field there is, including:
- Science: AI is used by the scientific community to address challenges, and expand perspectives to find solutions to pressing matters such as climate change.
- Healthcare: AI helps not only with the record structure in healthcare but also with disease detection and diagnosis using, for example, tools for image interpretation.
- Manufacturing: In 2024, AI help further automation of manufacturing by using tools to autonomously manage the supply chains, evaluating the state of equipment and the need for its optimization.
- E-commerce: The e-commerce industry is where AI is the most prominent. It helps businesses personalize the shopping experience by analyzing the customer base and offering marketing recommendations.
