How will AI progress during the year? Building upon 2023’s trajectory, in 2024 it is expected that artificial intelligence will continue to become more sophisticated. Here we may expect more ‘human-like’ AI. There will also be governmental moves to regulate aspects of AI. Compliance will be a big consideration when it comes to regulation.
With these predictions, Digital Journal heard from Jaeger Glucina, MD and Chief of Staff at Luminance and Harry Borovick, General Counsel.
The next steps for AI
According to Glucina there are some expected patterns that the business world will see in relation to AI development: “In 2024, Large Language Models (LLMs) will continue to get better – smaller, more capable, cheaper. As a result, we’ll see the start-up landscape become even busier, with more and more companies releasing products enabled by AI platforms such as OpenAI.”
In addition, Glucina finds: “A whole industry will be created around independently measuring and reducing AI bias, as well as tackling the risks of hallucinations. A kind of ‘AI insurance’ for companies producing – and possibly using – LLMs.”
In terms of the impact on the business community, Glucina thinks: “As well as better accuracy and reliability, we’ll see a drive towards making AI more human, something we’re already seeing with the likes of Google’s AI that “thinks more carefully”. The equivalent of today’s “organic” or “hand-made” will be “written by a human”.”
In turn, this will lead to increased jobs specifically aimed at teaching and training AI to behave more like us.
Glucina continues: “However, there are – and will continue to be – questions around the authenticity of content generated by AI, from articles and essays to images. As a result, companies will pay a premium for content written by people, labelling it clearly to demonstrate authenticity, and there will be industries (or AI) created to verify it.”
Compliance and regulation
With legal matters, Borovick expects: “2024 will mark a new era for compliance, as discussions around data privacy and AI regulation collide. Last year’s introduction of the UK-US Data Privacy Bridge and the DPF have already left businesses with questions about how these frameworks will be implemented and enforced, or potentially overturned and replaced. The added dimension of AI regulation will only further complicate regulatory processes.”
Complication arises in terms of global trade. Borovick considers: “It seems that the EU and the US are headed down diverging paths on AI regulation. This will cause a compliance headache for businesses who work across multiple markets and General Counsel must decide where to base their global privacy and compliance focus. The cost and complexity of compliance is higher than ever, and it will be up to legal teams to navigate this relatively unknown territory.”
