CCS Insight predicts that the EU will be the first to introduce specific regulations for ai.
CCS Insight, a leading technology research firm, has made a bold prediction that generative artificial intelligence (ai) will face a reality check in 2024, as the hype surrounding this transformative technology gives way to practical challenges it poses.
The cold shower for generative ai in 2024
According to recent ai-will-get-a-cold-shower-in-2024-analysts-predict.html” target=”_blank” rel=”nofollow noopener”>reportsCSS Insight shared this prediction in its annual roundup of top predictions for the tech industry in 2024 and beyond, stating that generative ai could “take a cold shower in 2024” as the reality of cost, risk and complexity involved “replace the exaggerations.” ”around technology.
Ben Wood, chief analyst at CCS Insight, pointed out the stark difference between the hype and reality of generative ai. “We are big proponents of ai. We believe it will have a huge impact on the economy and society in general; “We think it’s great for productivity,” Wood said. “But the hype around generative ai in 2023 has been so immense that we believe it is overhyped and there are many hurdles that need to be overcome to bring it to market.”
Generative ai models, such as OpenAI’s ChatGPT, Google Bard, Anthropic’s Claude, and Synthesia, rely on large amounts of computing power to run complex mathematical models that allow them to generate responses to user requests.
Companies must purchase high-power chips to run these ai applications, with advanced graphics processing units (GPUs), such as those designed by US semiconductor giant Nvidia Corp (NASDAQ: NVDA), being the preferred choice for both large corporations as well as small-scale developers. .
However, the trend is changing. tech titans like Amazon.com Inc (NASDAQ: AMZN), Alibaba Group Holdings Ltd (HKG: 9988) and Meta Platforms Inc (NASDAQ: META) are reportedly taking matters into their own hands by designing specialized ai chips tailored to their Specific ai. workloads. While this approach might be sustainable for deep-pocketed tech giants, it presents a significant challenge for smaller organizations and independent developers.
Analyst forecasts for ai regulation in the EU
Additionally, CCS Insight predicts that the EU will be the first to introduce ai-specific regulations. Still, due to the rapid pace of progress in this field, these regulations are expected to be reviewed and redefined several times. Wood notes that “the legislation will not be finalized until the end of 2024, leaving the industry to take the first steps towards self-regulation.”
The urgency to regulate ai has been fueled in part by the rumors surrounding generative ai. Technologies like OpenAI’s ChatGPT, Google Bard, and others have captivated tech enthusiasts, venture capitalists, and corporate boardrooms with their ability to generate human-like text, images, and even music in response to data-based prompts. text.
However, this rapid advance has also raised concern, both among government officials and the public. Some fear that highly advanced ai systems, such as generative ai, could lead to job displacement and ethical concerns. As a result, several governments around the world have been calling for ai regulation.
In the EU, efforts are underway to pass the ai Act, a landmark law that aims to introduce a risk-based approach to ai. Under this proposed regulation, certain technologies, such as live facial recognition, could be banned entirely.
next
Benjamin Godfrey is a journalist and blockchain enthusiast who enjoys writing about real-life applications of blockchain technology and innovations to drive mainstream acceptance and global integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.
