Top Generative AI Trends to Look Out for in 2024
As we head into 2024, it’s important to acknowledge the greatest breakthroughs of 2023 that transformed the digital landscape. Undoubtedly, generative AI falls into that bracket as this fast-growing AI tech has reshaped business operations beyond our imagination.
Generative AI, with its automation capabilities, has opened doors for new opportunities and game-changing innovations. Therefore, as its impact on businesses across industries grows, you must prepare yourself for the upcoming generative AI trends.
Let’s explore the top generative AI trends that are most likely to make their way into the business world in 2024.
The Rise of Generative AI
Generative AI is one of the latest artificial intelligence trends that has taken the business world by storm. Modern AI-based tools can generate different content quickly and effectively to meet a user’s content requirements. These tools can produce textual, audio, and visual content.
ChatGPT is the most popular generative AI tool, launched in November 2022 which proved to be a revolutionary AI tech. ChatGPT is an automated content and idea-generation tool that arguably played a crucial role in bringing generative AI to the limelight.
Today, numerous generative AI models are spread across sectors and are being used for more than just content creation. From AI-based chatbots to future forecasting and more, generative AI is offering comprehensive applications to enterprises around the world.
According to research by Acumen, the generative AI market is estimated to reach $208.8 billion by 2032. This stat is a testament to how popular and widely accepted generative AI is, and what its future looks like. Thus, it’s high time you familiarize yourself with the top generative AI trends.
The Biggest Generative AI Trends to Watch Out for in 2024
Being a business owner of a modern-day enterprise, you must learn about the top technology trends in 2024. This will give you a clearer idea of what to expect, and how to make the most of these trends. Since generative AI is among the biggest tech right now, find out about its trends.
Research on what generative AI might bring to the table in 2024 and how it will shape industries in the coming years. Here, we have listed some of the latest trends in AI that you must look out for in 2024. Go through them now.
1. Evolution of Video Generation
As mentioned above, generative AI has grown significantly since its introduction in the market and can create different forms of content. Video production is one of its many specialties and is an area that is most likely to evolve even further in 2024.
With the increasing popularity of tools like Synthesys, businesses can create professional videos in no time. They can generate video content without any tools or prior knowledge of video creation. As these tools evolve, people will be able to create videos more quickly.
Lastly, generating video content for business purposes using generative AI models is expected to get a lot cheaper in 2024. This means it will be more accessible for small businesses, and hence, this trend will get more hyped.
2. Newfound Potential in Conversational AI
If you have researched generative AI, you probably know about conversational AI as well. Conversational AI is a type of artificial intelligence that can generate accurate and personalized human-like responses. This is why, it is actively used in virtual assistants and chatbots.
Right now, conversational AI is helping businesses incorporate chatbots to deal with customer queries and provide them with relevant answers, As we move ahead, this concept will become a highly sought-after new AI trend that will change how customer service is carried out.
On top of that, the newly built chatbots driven by conversational AI can generate context-aware responses and consider emotions too. This greater advancement in conversational AI is another reason why AI-based chatbots will become more desirable in 2024.
3. Enhanced Cybersecurity with Generative AI
Every year, as more businesses enter the digital world, cybersecurity becomes increasingly delicate. But with generative AI, dealing with sophisticated cyber threats in 2024, and beyond will become easier than ever. It is one of the most essential generative AI trends to know about.
AI-powered cybersecurity systems will offer smart security that businesses or individuals can benefit from. These systems will analyze large amounts of data accurately and identify potential threats immediately. Such Generative AI applications will find potential anomalies much faster.
Therefore, 2024 is the right time for you to say goodbye to traditional cybersecurity approaches, and choose generative AI instead. Apart from finding existing security threats, generative AI models can also predict and eliminate anticipated security threats to futureproof your software.
4. AI’s Inclusion in Education
There has been a lot of discussion around the inclusion of generative AI in the education sector. AI in education is vital as it streamlines both student and teacher work by automating tasks. From lesson plan creation to assessments, and assignments, everything can be done rapidly.
Educators can use generative AI in 2024 and years ahead for the betterment of students. They can create smarter and customized plans for students based on what’s best for them. Plus, they can generate study materials and summaries that suit each one of their student’s capabilities.
Like any other tech, generative AI’s incorporation in education is also questioned by many. But when used wisely, generative AI will only make it easier for students to learn and educators to teach. It will make education more comprehensible and effective leading to improved learning.
5. AI-Powered Designs
As we talk about the trends of artificial intelligence tech generative AI, we cannot overlook its contribution to product design. Several generative AI tools are helping expert designers create custom product designs that are more innovative than ever.
These tools are giving business owners a chance to produce sustainable designs again and again without running out of ideas. So, in 2024, the role of generative AI in product design will become more crucial as it saves design time and helps bring in new ideas every time.
Designers, no longer have to spend hours trying to create the perfect design without flaws. They can simply invest in a generative AI design tool. Once they get the tool, and enter their requirements, the AI-driven application will produce the ideal designs automatically.
Ever since generative AI came to the scene, it has only surprised businesses time and again through its automation power. 2023 witnessed the many advancements in this technology and 2024 will surely be the year where this tech and its growing potential is fully put to use.
Although generative AI’s potential is limitless, we have tried to close in on some of its main trends in 2024. Whether it’s generative AI’s progress in video production to its application in education or cybersecurity, we have covered quite a few of them.
Leading AI development companies like Teqnovos can help you reap the maximum benefits of these generative AI trends in 2024. Our experts can facilitate you with custom-built generative AI software for your business’s unique needs. So, don’t wait, hire our AI developers today.
Frequently Asked Questions
1. What to expect from generative AI in 2024?
Generative AI in 2024 is expected to grow even more and enhance business productivity across industries. The latest generative AI models will help professionals automate the most daunting processes like content creation or customer data recording, etc to save time and improve efficiency. In 2024, generative AI is most likely to get even further into the deployment phase and offer more practical applications to users around the world.
2. What does the future of generative AI look like?
The future of generative AI will surely observe the rise of supreme AI solutions that support business process automation. Generative AI models will become more prominent in producing innovative outputs that support an organization’s success journey. In the coming years, generative AI is likely to make various business operations completely automated saving personnel’s time and energy.
3. What is the biggest generative AI trend to look out for in 2024?
There are many generative AI trends to look up to in 2024. Whether it’s the growth of AI-based video generation tools or its impact on cybersecurity, 2024 is going to be a moving year for generative AI. However, it’s hard to pin down the biggest generative AI trend that you should look forward to this year. The reason is the fact that generative AI is growing rapidly across industries and has a significant influence on each sector. You should keep an eye on all of these trends, and grab an opportunity to use any of these for your business’s advantage.
4. What is the most used generative AI tool?
Many world-class generative AI tools are being used regularly by different people for different purposes. However, out of all these tools, ChatGPT is the most commonly used AI tool. It is an automated content creation tool by OpenAI. Business leaders or students, everyone can use ChatGPT to fulfill their content requirements. They just have to add a sentence or a few words related to the topic they need content on. ChatGPT has an extensive dataset from which it derives information and produces relevant content.