Last year witnessed a rapid influx of new artificial intelligence products, although the anticipated AI boom akin to the tech explosion of the previous decade has yet to materialize.
According to Christopher Alexander, chief analytics officer for Pioneer Development Group, 2023 marked a year of astonishment in AI, with 2024 poised to usher in a phase of reassessment as the limitations and optimal utility of AI systems become more apparent. Alexander predicts that AI is set to become an integral part of people’s daily lives, emphasizing that the pursuit of AI utility is just commencing. He suggests that the overblown predictions surrounding AI have muddled the present and future states of this technology, contributing to market confusion.
In retrospect, 2023 was a pivotal year for AI advancements, with numerous breakthroughs and platforms garnering significant attention. Despite the buzz leading up to it, the anticipated boom reminiscent of the previous years has yet to transpire, leaving many pondering the trajectory of this new wave of technology.
Phil Siegel, founder of the Center for Advanced Preparedness and Threat Response Simulation, acknowledges that the development of AI tools is still in its infancy but hints at signs indicating an imminent breakthrough. While the much-anticipated AI boom is still pending, Siegel highlights the current surge in foundational elements like chips and supplies essential for realizing the full potential of AI applications.
Moreover, Siegel underscores that the road to a substantial AI boom will require time, citing the high pricing of emerging products as a barrier to widespread adoption. He anticipates a significant advancement when data management firms streamline their product offerings, enabling companies to integrate custom AI applications with generic ones, leveraging their proprietary data effectively.
Experts posit varying perspectives on the status of the AI boom, with Samuel Mangold-Lenett emphasizing the widespread utility and rapid evolution of AI technologies, particularly in language learning models like ChatGPT. Despite the inconspicuous nature of AI interactions for the average consumer, Mangold-Lenett asserts that we are currently amidst the AI era, with continuous advancements anticipated in the future.
Jake Denton, a research associate at the Heritage Foundation’s Tech Policy Center, notes the proliferation of chatbots in 2023 but highlights the challenges in consumer adoption due to unclear utility and clunky interfaces. Denton underscores the disparity between the envisioned potential and the current reality in AI, suggesting that while the long-term prospects are promising, short-term applications remain limited.
Looking ahead to 2024, experts like Siegel anticipate a pivotal year for AI, determining whether a full-fledged revolution is imminent or if AI remains a niche productivity tool. As the industry navigates the transition from novelty to practical application, the coming year is poised to unveil the true potential and viability of AI technologies.
