AI Faces Reality Check in 2024 After Record Growth in 2023

As generative AI moves from hype to reality, experts predict a cautious approach, wider industry infiltration, and tighter regulations.

OpenAI's ChatGPT became the fastest-growing consumer app of all time in 2023, reaching an estimated 100 million active users within two months of its release.
Despite the rapid adoption of generative AI, experts predict a more cautious and pragmatic approach in 2024, as the technology has yet to prove its long-term value and reliability.
AI is expected to infiltrate a growing range of industries in 2024, with tech companies, banking, pharmaceuticals, and education set to reap the biggest benefits.
Concerns are growing about the use of AI for nefarious applications, including deepfakes that could turbocharge political disinformation and synthetic media that could lead to major corporate fraud.
Regulations and legal clarity around AI are expected to tighten in 2024, with different approaches being taken in the EU, US, and UK.