From computer code to graphics to essays, generative AI systems can quickly create a variety of content, making them essential tools in some industries and professions, although they’re not perfect.
Backed by Microsoft, ChatGPT took the lead with his late 2022 launch, and competitors have continued to move forward ever since.
This month brought one of the most significant moves as Google’s owner Alphabet introduced Gemini, an AI that will be integrated into Google products, including chatbots and search engines.
Alphabet claims that Gemini is better than the current version of ChatGPT.
But ChatGPT’s creator, OpenAI, says ChatGPT is not standing still.
It promises to release a more powerful version of the software next year.
In November, OpenAI CEO Sam Altman said at a conference for software developers: “What we announced today is what we’re building for you right now.
According to PitchBook, by the end of September there were 21 generative AI startups around the world invested by venture capital firms worth $17.
5 billion (£17.
5 billion).
).
For comparison: only $5.
1 billion was invested in all of 2022.
But some people warn against getting too carried away.
Ben Wood, principal analyst at CCS Insight, says generative AI will see a “cold shower” in 2024.
“In our opinion, the hype ignores some obstacles that will only slow things down a bit in the short term,” he says.
He points out that generative AI systems are very expensive to develop and operate.
It requires large amounts of computing power and expensive computer chips, which are in short supply.
To reduce these costs, he predicts that some AI will move to hybrid systems, with some processing done locally (on laptops or mobile phones).
Wood also says regulation and litigation could dampen the current generative AI craze.
“Companies may find themselves investing significant amounts of money in AI-powered services and having to pay back some of it to comply with regulations.
” Electrical shock
Still, 2024 is likely to be another difficult year for electric vehicle (EV) manufacturers.
At the end of 2023, Ford, GM, and Tesla all canceled plans to expand electric vehicle production.
Mercedes-Benz in October called the electric car market “brutal” and blamed price competition and supply chain problems.
4,444 analysts do not expect the situation to ease significantly.
Automotive market analyst Matthias Schmidt predicts that 2024 will be the year when electric vehicle sales across Europe stagnate.
He sees little growth in traditionally strong markets such as Germany and Norway.
However, the introduction of zero emission vehicle (ZEV) obligations could be a bright spot for the UK.
From January, just over a fifth of vehicles sold will be electric, with the goal expected to reach 80% by 2030.
All of this could be great news for those who have the money to buy an electric car.
“It’s going to be a complete buyer’s market, especially when it comes to electric vehicles, as manufacturers rush to meet ZEV compliance goals,” Schmidt said.
“However, as manufacturers are reluctant to publicly announce price reductions, price reductions will remain hidden through financial transactions and higher trim levels at no additional cost,” he added.
Robots with human like characteristics
Humanoid robots may become even more useful next year.
At Tesla, engineers are working on a humanoid robot called Optimus that is expected to be able to perform basic factory tasks soon.
A video released earlier this month showed the latest version of Optimus, which is lighter than previous machines and has a new needle and a new motor.
In July, Mr.
Musk said that Optimus would be able to work in a Tesla factory in 2024.
“As for when it can be useful, we will first try it in our own factory to prove its usefulness.
However, I think it will be able to be used effectively in factories next year.
I’m pretty confident in moving, grasping, and handling things in ways similar to humans.
This was developed by Agility Robotics, who hope to offer the Digit robot to other customers next year.
Meanwhile, in Canada, Sanctuary AI is training a robot named Phoenix to perform specific tasks, such as packing bags.
The company plans to expand Phoenix’s scope of operations in 2024.
Race to lose weight
In the pharmaceutical world, treatments sell so quickly that manufacturers struggle to meet demand.
The weight loss drug semaglutide, sold under the brand name Wegoby, was a huge success and in short made its owner, Novo, his Nordisk, the most valuable company in Europe.
To meet demand, Danish companies are investing billions of euros in expanding their production facilities.
Currently, Wegovy is administered as a weekly injection, but a tablet version is also almost complete.
Novo Nordisk has not said when it plans to bring it to market.
Danish companies can expect more competition next year.
Eli Lilly’s drug Munjaro was recently approved as a weight loss agent in the United States and United Kingdom, and may soon be approved in the European Union.
Meanwhile, Pfizer has applied for approval for a weight loss drug.
