In 2023, artificial intelligence became a hot topic as billions of dollars flowed into the generative AI tools investment industry, and society began to face tough questions about the swiftly evolving technology. In 2023, AI was the topic of the year, with billions of dollars pouring into the venture capital industry, as the sector grappled with critical questions regarding the technology’s place in society.
Rapid Technological Advancements
2023 witnessed rapid technological advancements that caught the attention of venture capitalists as billions of dollars flowed into the sector. The leading companies in this field were OpenAI, Stability AI, and Anthropic. Significant investments were directed by companies like Microsoft and Amazon into these firms. This rapid advancement heightened interest in artificial intelligence, turning it into a hot topic of the year.
The Impact of AI on Daily Life
Over the last year, AI has permeated nearly every aspect of life. Educators began to worry that students might use ChatGPT to cheat on homework, leading the tool to be banned in some of the most prominent school districts in the United States. Doctors and hospitals started using generative AI tools not only to take notes and handle routine tasks but also to diagnose patients. Some political candidates began using AI in their campaigns to engage with potential voters, while others utilized generative AI tools to create fake videos of their political opponents.
The Challenges and Risks of AI
Generative AI tools triggered an invasion of content on the internet, raising concerns about the exploitation of these widely available tools to create toxic content. For instance, fake news stories produced using generative AI spread across TikTok and YouTube, while AI-generated pornography circulated on Reddit and Etsy without consent. As low-quality AI-generated content proliferated on the web, ChatGPT wreaked havoc in the gig economy, as many feared losing their jobs to this new AI program capable of producing content faster and cheaper than humans.
Legal and Regulatory Challenges
In 2023, leading AI companies like OpenAI, Stability AI, and Anthropic faced a wave of copyright infringement lawsuits from artists, writers, and programmers, who claimed that these tools relied on vast datasets that used their copyrighted content without permission or compensation. Legal expert Edward Clariss predicts that these class-action lawsuits will lead to the establishment of new balanced rules regarding the use of AI under U.S. copyright law by 2024.
Economic and Environmental Challenges
Key questions remain to be answered in 2024 regarding the economics of AI, specifically about how these startups can achieve profit margins and make investors money. Most AI models rely on graphics processing units from companies like Nvidia and AMD, and these models become increasingly costly and leave a high carbon footprint as they need to be trained on massive amounts of data. “In 2024, most companies will realize that smaller, cheaper, and more specialized models make over 99% of AI use cases viable,” said Clément de Lange.
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Update this article to reflect the correct valuation of Anthropic.
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