Technology

How AI Will Continue to Grow in 2024

Pinterest LinkedIn Tumblr
Advertiser Disclosure

This blog post may contain references to products or services from one or more of our advertisers or partners. We may receive compensation when you click on links to those products or services.


Although the idea of artificial intelligence (AI) has been entertained by the mainstream for many years, there’s no denying that 2023 has been somewhat of a shock to many people because it is now a reality. Of course, one of the main ways AI has been discussed throughout recent generations is through science fiction films that don’t necessarily paint its use in a good light – think The Terminator.

In all honesty, the truth is very different, and AI has been making positive waves in several industries already. However, there’s no doubt that we are still in the early stages of its mainstream adoption and there’s much more to come.

In this post, we’ll look at the following:

  • What AI is.
  • The impact AI has already had on the world.
  • How AI will continue to grow throughout 2024 and beyond.

Understanding Artificial Intelligence

Let’s start by considering what we mean when talking about artificial intelligence. Ultimately, it’s all about a machine being able to mimic human intelligence through learning, reasoning, perception, problem-solving, and more.

Perhaps the most well-known version of AI in use today is ChatGPT, which is a chatbot that uses a combination of machine learning and language processing to provide information to users with ease.

ChatGPT and other similar chatbots have caused a big stir in 2023 because they’ve both impressed and shocked people in equal measure. However, the process is simple to understand, with user inputs being evaluated by the chatbot and then answered in a way that mimics human interaction. 

The Impact of AI in Recent Years

One of the most important things to understand about AI is that it has already made an impact in several industries. The difference the likes of ChatGPT have had is in part because it is in the public eye and can be interacted with directly, while other AI implementations work quietly in the background.

The following is a short list of some of the ways AI has been used in recent years:

Retail

AI has been used in the retail sector to help with data processing and analysis regarding the demand for products, managing the supply chain, smoothing over delivery logistics, and even streamlining inventory management. This has helped to improve behind-the-scenes processes for businesses while simultaneously leading to greater customer satisfaction.

Healthcare

Businesses have been using healthcare tech innovations, specifically AI, to analyse medical data, giving rise to a much faster process than previously managed by humans. Furthermore, AI models can now detect if someone is diabetic over the phone. This has helped to provide rapid patient diagnosis while removing some of the pressures on medical practitioners, which allows them to focus on other important tasks.

Cybersecurity

AI has already proven itself to be a great tool within the cybersecurity industry because it can detect threats much more efficiently than other methods, which means improved security for businesses and customers alike.

How AI Will Continue to Grow in 2024

Considering the above, there are a few ways that AI is likely to continue to grow throughout 2024 and beyond.

The Next Big Thing 

The gambling industry is likely to use AI more regularly over the next year. For example, the best casino sites in the UK already use AI for security and customer support and there is no doubt that the technology will only improve in 2024.

Industries Continuing to Use AI

Other industries that will continue to use AI in 2024 include healthcare and education. The former will use AI to collect and analyse data, which will help to provide support to patients and private customers regarding fitness, diet, and mental health. The latter will see AI used to help personalise student tuition, which will help to provide several approaches to learning that aim to get the best out of each student.

Google and Apple

Google has been working hard on its latest AI model, known as Gemini, which many believe could seek to compete with ChatGPT in the longer term. Apple has been somewhat reserved about its plans for AI over the next few years but has recently released a machine learning framework called MLC where developers can build generative AI apps that could be used on Apple products.

AI-Based Services

With AI making its way into lots of industries, we can also expect the entertainment sector to follow. For example, there is a good chance that 2024 could see AI being implemented within the likes of streaming services, within which it could be used to collect and analyse viewing data. This analysis could then be used to provide personalised recommendations to users, as well as provide valuable information about what content people want to see more of. This would help the streaming services to spend money on projects that are likely to be successful but would also help to improve user satisfaction due to tailored experiences.


Become an Insider

budget planner template printable

Subscribe to get a free daily budget planner printable to help get your money on track!

Make passive money the right way. No spam.





Editorial Disclaimer: The editorial content on this page is not provided by any of the companies mentioned and has not been endorsed by any of these entities. Opinions expressed here are author's alone

The content of this website is for informational purposes only and does not represent investment advice, or an offer or solicitation to buy or sell any security, investment, or product. Investors are encouraged to do their own due diligence, and, if necessary, consult professional advising before making any investment decisions. Investing involves a high degree of risk, and financial losses may occur.


Write for Us


FangWallet was created to make financial knowledge easy-to-read and accessible to the masses. Personal finance. Understood.

Write A Comment

Pin It