CCS Insight estimates that the EU will be the first country to actually introduce specific rules for AI.
CCS Insight, a leading technology research firm, has made a bold prediction that Generator Artificial Intelligence (AI)Aye) is in for a reality check in 2024, as the hype surrounding this transformative technology gives way to the practical challenges it presents.
Cold Shower for Generative AI in 2024
as per recent reportsCSS Insight shared this prediction in its annual roundup of the top predictions for the tech industry in 2024 and said generic AI “could get a cold shower in 2024” as the reality of the cost, risk, and complexity involved “replaces the hype.” “Around technology.
Ben Wood, chief analyst at CCS Insight, pointed out the glaring gap between the hype and reality of generative AI. “We are big supporters of AI. We believe this is going to have a cascading impact on the economy and society; We believe it’s great for productivity,” Wood said. “But there’s so much hype around generative AI in 2023 that we think it’s overhyped, and there’s a lot of time to bring it to market. There are obstacles that need to be overcome.”
Generative AI models like OpenAI chatgptGoogle Bard, Anthropic’s Claude, and Synthesia rely on large amounts of computing power to run complex mathematical models that enable them to generate responses to user signals.
Companies will need to acquire high-powered chips with advanced graphics processing units (GPUs), such as those designed by the US semiconductor giant, to run these AI applications. nvidia corporation (NASDAQ:NVDA), is the preferred choice for both large corporations and small-scale developers.
However, the trend is changing. prefer tech titans Amazon.com Inc (NASDAQ: AMZN), Alibaba Group Holdings Limited (HKG:9988), and Meta Platform Inc (NASDAQ:META) is reportedly taking matters into its own hands by designing specialized AI chips tailored to its specific AI workloads. While this approach may be sustainable for tech giants with deep pockets, it presents a significant challenge for smaller organizations and independent developers.
Analysts’ Forecast on EU AI Regulation
Furthermore, CCS Insight estimates that the EU will actually be the first country to introduce specific regulations for AI. Nevertheless, due to the rapid pace of progress in the field, these rules are expected to be revised and redrafted several times. Wood explains that “the legislation is not finalized until the end of 2024, allowing the industry to take early steps towards self-regulation”.
The urgency to regulate AI is heightened in part by the ongoing discussion around generative AI. OpenAI’s ChatGPIT, Google Bard and other technologies have mesmerized technology enthusiasts, venture capitalists and corporate boardrooms alike with their ability to generate human-like text, images and even music in response to text-based prompts. Have given.
However, this rapid progress has also raised concerns among both government officials and the public. Some fear that highly advanced AI systems like generative AI could lead to job displacement and ethical concerns. As a result, many governments around the world are seeking AI regulation.
In the European Union, efforts are underway to pass the AI Act, which is a historic part Legislation It aims to introduce a risk-based approach to AI. Under this proposed regulation, some technologies, such as live facial recognition, could be banned altogether.
Benjamin Godfrey is a blockchain enthusiast and journalist who loves writing about real-life applications of blockchain technology and innovations to promote general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies drives his contributions to well-known blockchain media and sites.
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