AI Industry Faces Pressure to Find Profitable Killer App in 2024
Artificial intelligence companies face immense pressure this year to prove that generative AI can generate real profits and deliver a killer application. Meanwhile, global AI regulation shifts from vision to concrete action.
AI companies face immense pressure in 2024 to prove that generative AI can actually make money and produce a much-anticipated "killer app." Big Tech is betting heavily on customized chatbots, which allow users to create generative-AI applications without any coding skills. This trend accelerates rapidly as OpenAI prepares to launch its highly anticipated GPT app store.
Beyond chatbots, experts predict exciting new developments in AI-generated video and robots that handle multiple tasks at once. However, the rapid advancement also brings significant risks, particularly a surge in AI-powered election misinformation that threatens to impact global democratic processes this year.
On the policy front, 2024 marks a crucial transition from proposed visions to concrete regulatory action around the world. Following the EU's sweeping AI law, US executive orders, and China's algorithm rules in 2023, lawmakers now focus on implementing these frameworks. Despite this progress, major unresolved questions remain regarding algorithmic bias, copyright infringement, and the massive financial costs associated with building AI systems.