New AI products were launched last year at the fastest pace yet, although predictions of an AI boom on the scale of the tech explosion of the past decade have yet to come true.
“I think 2023 was the year that AI wowed people and 2024 will be the year of tapering off as people learn the limitations of AI and where various AI systems have the most utility,” Christopher told Fox. Alexander, director of analysis at Pioneer Development Group. Digital news. “I believe that the race for the usefulness of AI has just begun and AI will become a permanent fixture in people's lives. I believe that last year's big predictions for AI confused the current state of AI and the future state, which has led to some confusion in the market.”
Alexander's comments come after what was, in many ways, a landmark year for AI technology in 2023, with new platforms and developments making headlines throughout the year. However, expectations of a boom that dominated the headlines in the previous five years have so far not come true, leaving many to wonder where the new technology will go from here.
Phil Siegel, founder of the Center for Advanced Preparedness and Threat Response Simulation, told Fox News Digital that it is still “very early” in the development phase of artificial intelligence tools, but noted that there are signs that there is still a takeoff. on the way.
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So far, predictions of an AI boom on the scale of the technology explosion of the past decade have yet to come true. (Jonathan Raa/NurPhoto via Getty Images)
“What's exploding now are the infrastructure pieces like chips and supplies to ensure that the true application of the technology can explode,” Siegel said.
But Siegel also warned that a true AI boom will still take time, noting that the newest products coming to market are often priced too high for widespread use.
“It takes a reasonable amount of time for real products to come to market on a large scale,” Siegel said. “These are just starting to emerge, but they are probably priced too high for widespread adoption, even in business. What will be a big step forward is when data management companies determine their product set so that enterprises can use your own data for customized applications. AI applications will be merged with generic applications.”
Other experts argue that the rise of AI has already arrived in some respects, something the average consumer may be overlooking.
“AI has far exceeded expectations in the sense that its widespread usefulness has become very evident. The capabilities of AI have also continued to move at a dizzying pace as developers continue to move ever closer to artificial intelligence general,” Samuel Mangold-Lenett, editor of The Federalista, told Fox News Digital. “We're probably not seeing a bigger boom because the average person still doesn't consciously interact with AI on a daily basis.”
The OpenAI logo is seen on a mobile phone in front of a computer screen showing the result of ChatGPT. (AP Photo/Michael Dwyer)
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Mangold-Lenett pointed to language learning models (LLMs) like ChatGPT, noting that the technology for such platforms is still very new, but their popularity has increased significantly in 2023.
“Whether we realize it or not, the time for AI is here,” Mangold-Lenett said. “Development will continue at a rapid pace and we will continue to see AI play an increasingly important role in our daily lives.”
Jake Denton, a research associate at the Heritage Foundation's Tech Policy Center, also pointed to the rise of chatbots in 2023, but noted that the average consumer is still unlikely to engage with such platforms thanks to their unclear utility.
“Their capabilities are often still unclear and their user interfaces are still quite clunky,” Denton told Fox News Digital. “This reflects the chasm between vision and reality in AI. The long-term potential is staggering, but the short-term applications remain limited.”
A customer uses her smartphone to make an electronic payment for her meal at the Hongqiao Artificial Intelligence restaurant in Shanghai, China, on August 3, 2021. (VCG/VCG via Getty Images)
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However, Denton noted that developers are on the path to improving the technology, arguing that slow adaptation of new technology is normal at first.
“Truly revolutionary technologies often seem useless at first. Their capabilities seem like toys, with no clear purpose. However, with improved functionality and improved product design, these systems have the potential to fit seamlessly into our lives, enabling feats previously unimaginable.” Denton said. “While we are still in the early stages of this AI revolution, much of the infrastructure and solid foundations have already been built; it is now up to developers to build products of lasting value on top of them.”
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Siegel believes 2024 will be a telling year for new technology, as it will crystallize if a full-blown boom is on the horizon.
“On the consumer side, products are still “toys” or simple productivity uses like drawings or stories or just fun conversations. However, that is not a sustainable basis for a business model to make money. Companies with uses Real things are starting to emerge in personal finance, healthcare, etc., but they're not fully functional, they're not fully secure, or they don't have a way to make money,” Siegel said. “2024 will tell us whether this is a full-blown revolution or the next good productivity tool for the administrative and consumer worlds.”
