As organisations across various sectors seek to harness the power of artificial intelligence (AI), 2024 has emerged as a pivotal year for the practical application of AI technologies. The shift is characterised by a movement from exploration of AI models to the creation of tangible products, according to Arvind Narayanan, a computer science professor at Princeton University and co-author of "AI Snake Oil: What Artificial Intelligence Can Do, What It Can't, and How to Tell The Difference."
Following the initial surge of interest in AI, particularly with the release of tools like ChatGPT two years ago, consumers have found these technologies either beneficial for specific tasks or lacking in capability in others. Presently, generative AI is integrating into an increasing array of technology services, often in ways users may not immediately recognise, such as AI-generated responses through search engines like Google, or innovative photo editing applications.
However, the implementation of these AI systems is not without its challenges, particularly financial ones. Goldman Sachs analyst Kash Rangan highlighted the substantial investments required to support the complex and energy-intensive infrastructure that underpins generative AI tools. These AI systems depend heavily on advanced computing technologies that necessitate vast amounts of electricity, leading tech firms to develop solutions such as partnerships with nuclear power providers, to manage energy demands.
Rangan noted that while there is still optimism about AI's potential, it has not yet reached the revolutionary impact many anticipated during its inception. He remarked, "We had this fascination that this technology is just going to be absolutely revolutionary, which it has not been in the two years since the introduction of ChatGPT." Despite the high costs and productivity assumptions, Rangan acknowledged that AI is becoming "absolutely incrementally more productive" across various professions, including sales and design.
The rising prevalence of AI tools has sparked apprehension among workers regarding their job security. For example, members of the Screen Actors Guild-American Federation of Television and Radio Artists, who participated in a four-month strike that concluded in September, raised concerns that the evolving technology could threaten job opportunities, particularly in the entertainment industry. Similar apprehensions have been voiced by musicians and authors over AI's ability to synthesise content derived from existing works.
Walid Saad, a Virginia Tech professor and AI expert, emphasised the limitations of current AI capabilities, stating, "AI tools currently don't understand the world." He provided an illustrative example wherein an AI system misinterpreted a request to create an image of salmon in a river by producing a picture of a river filled with cut pieces of salmon from grocery stores. Saad underscored that the next advancement in AI must involve integrating a form of common sense reasoning that humans naturally possess.
In parallel, AI's evolving utility is highlighted by a shift towards creating AI "agents" that offer specialised functions. Vijoy Pandey, senior vice president at Cisco’s innovation arm, Outshift, remarked on the potential of these agents to enhance user experience by managing tasks that require specific knowledge. He mentioned upcoming advancements within the realm of Bitcoin software that are expected to leverage AI agents for enhanced performance and security.
AI has also made notable strides in healthcare, facilitating quicker diagnostic processes by providing medical professionals with valuable initial insights based on patient data. While AI cannot independently diagnose diseases, it acts as a tool to identify potential areas of concern for further human investigation. Nonetheless, as with other applications, there is a possibility of perpetuating misinformation, exemplified by OpenAI's Whisper transcription tool, which has been found to generate fabricated text.
Pandey outlined how AI is beginning to bridge gaps in the pharmaceutical industry, particularly in the integration of traditional laboratory research and data analysis. As AI accelerates phases in drug development that may take years to complete down to mere days, such shifts signify a fundamental change in operational efficiencies within the sector.
As advancements in AI continue to unfold, businesses and professionals across various industries will likely navigate both the opportunities and challenges that this transformative technology presents.
Source: Noah Wire Services