The Business Bytes
JAYAJIT DASH
AS we stand on the precipice of 2024, it’s undeniable that Artificial Intelligence (AI) is not merely a buzzword but a pulsating force shaping the very fabric of our existence. The past year, 2023, was akin to a roller coaster ride for AI – a thrilling ascent of accomplishments coupled with the chilling descent of apprehensions. Now, as we peer into the crystal ball of the New Year, 2024, how will AI pan out for us? There is much hope, frenzy, expectations, and a dash of skepticism too.
In 2023, AI doomers took the centrestage. Pundits and prophets of gloom warned of existential threats, urging a pause in AI research. Elon Musk and his contemporaries signed an open letter, sounding alarms that resonated through the tech corridors. Yet, amidst the doomsday prophecies, a peculiar paradox emerged – those preaching a pause were paradoxically pressing the fast-forward button. Elon Musk’s xAI birthed Grok, an AI chatbot, showcasing that even the heralds of caution couldn’t resist the siren call of AI progress.
Doomerism, often fueled by the “effective altruism” movement, was entangled in a web of controversy. The movement’s influence waned as the firing and rehiring spectacle at OpenAI unfolded, and connections to cryptocurrency fraudsters were exposed. The takeaway? Caution is warranted, but skepticism towards doomers is equally prudent. Let’s not throw the AI baby out with the algorithmic bathwater.
National Security Roulette: AI’s Double-Edged Sword
The battleground of 2024 will not only witness geopolitical skirmishes but also a fierce contest between open and closed AI systems. The European Union’s impending AI Act lays bare the dilemma: regulation is essential, but excessive measures risk stifling innovation. The delicate balance between oversight and innovation will sway the fate of AI.
Meanwhile, the specter of AI in national security looms large. The once fantastical notions of cyber warfare, bioweapons development, and information warfare are now tangible threats. Picture a world where facial recognition at airports is the norm, and AI transforms law enforcement, heralding the potential arrival of a mass surveillance state. It’s not just Netflix’s apocalyptic hit, “Leave the World Behind,” that paints this dystopian picture; reality is fast catching up with fiction.
Regulatory Quagmire: Navigating the EU AI Act and Biden’s Executive Order
As we gaze at the regulatory horizon, the EU’s AI Act emerges as a pivotal player. The delicate balance between fostering innovation and preventing tech behemoths’ entrenchment will define the European approach. Will promising startups like France’s Mistral AI thrive, or will legislation inadvertently legislate them out of existence? On the other side of the Atlantic, President Biden’s executive order on AI has set the stage for regulatory upheaval. While specifics are delayed, debates on issues like bias and discrimination will likely follow partisan lines. However, the knotty problems of copyright and intellectual property promise a legal and regulatory drama that could rival the best courtroom sagas. The New York Times has already fired the opening salvo, filing a copyright lawsuit against OpenAI and Microsoft, signaling a year of intense legal wrangling.
Energy Debates and Environmental Showdowns: AI vs Cryptocurrencies
The year 2024 is poised to witness a showdown reminiscent of environmental clashes over cryptocurrency mining. The debate over AI’s energy usage will intensify as the competition for “compute” resources escalates. As AI models hunger for colossal data centers, a battle akin to the clash over cryptocurrency’s toll on the environment will ensue. The question lingers: Can AI balance power-hungry computations and sustainability?
Job Titles from a Sci-Fi Future: The AI Ethicist, Curation Curator, and Legal Botanist
2024 heralds the emergence of a new cast of characters in the workforce. Move over CEOs and CFOs; make way for the AI ethicist, curation curator, policy pacesetter, legal botanist, and interpreters of algorithmic tongues. These job titles might sound like they’re lifted from a sci-fi novel. Still, in the AI-dominated landscape, they could be the unsung heroes or the tragic figures of our digital odyssey.
The Symphony of Trust: Investors, Ethics, and Responsible AI
In the absence of a federal leash, organizations are tasked with self-regulation to win the trust of customers and investors. The investors’ eyes keenly scan for organizations where humans steer the AI ship, emphasizing the importance of ethics and responsible AI practices. Trust is the currency of the AI realm.
AI’s Co-Bot Revolution: Siri and Alexa, Meet Your Successors
Move over Siri and Alexa; the co-bot revolution is nigh. Generative AI-based personal assistant bots are predicted to become as commonplace as smartphones. Once mundane and manual, HR tasks may soon be orchestrated by these digital sidekicks. Recruiters, hiring managers, and candidates might find themselves through the hiring process with the nimble guidance of their co-bots.
The Enigma of AI-Augmented Software Development: Will Humans Still Write the Code?
Software development, traditionally ruled by human coders, faces an enigma. Will AI transform the space, with algorithms leading the charge, or will humans retain control while leveraging AI to expedite processes? The answer could shape the future of innovation, efficiency, and the delicate dance between silicon and gray matter.
Real-Time Language Translation: Babel No More?
Language barriers, the historic stumbling blocks in global collaboration, might soon crumble. The promise of AI-powered real-time language translation tantalizes our imagination. No longer limited to 60% accuracy, imagine a world where colleagues from diverse corners of the globe seamlessly collaborate, bridging linguistic gaps effortlessly.
AI-Powered Investing: The Rise of the Cyborg Investor
Jeff Shen’s vision of the AI-empowered investor, blending big data and models with human insight, suggests a cyborg-esque future for asset management. It’s not about replacing humans with AI but creating a symbiotic relationship where the strengths of both intertwine. The successful investor of 2024 might be the one who can dance the tango with algorithms, maintaining the human touch in a world increasingly dominated by silicon intellect.
The AI Odyssey Continues
As we step into 2024, the symphony of AI resounds with promise, pitfalls, and a pulsating rhythm that beckons us forward. The key lies not in succumbing to doomerism or blind optimism but in navigating the AI odyssey with a discerning eye, a vigilant mind, and a dash of wit. The stakes are high, the possibilities astounding, and the future, as always, a thrilling unknown.
(Jayajit Dash is a compelling content writer who revels in writing at the intersection of technology and policy ecosystems, has the flair to project emerging technologies in an intelligible light for the benefit of the lay reader. He is currently engaged as a Senior Manager (Corporate Communications) with Bhubaneswar-headquartered IT consulting company CSM Technologies.)
