Generative AI Faces Reality Check in 2024

Analyst firm CCS Insight predicts that generative artificial intelligence (AI) will face a reality check in 2024, as fading hype, rising costs, and calls for regulation contribute to a slowdown in the technology. The high cost and complexity of running generative AI models, which rely on advanced graphics processing units (GPUs), are becoming prohibitive for many organizations and developers. Additionally, AI regulation in the European Union is expected to face obstacles, with legislation likely to be revised multiple times due to the rapid advancement of AI. CCS Insight also predicts that AI-generated content warnings will be introduced, and arrests for AI-based identity fraud will begin in 2024.