AI Trends 2024: Realistic Expectations, Multimodal Capabilities, and Responsible Innovation

In this episode of AI50 Connect, "AI Trends 2024: Realistic Expectations, Multimodal Capabilities, and Responsible Innovation", your host, Hanh Brown, explores the AI trends shaping 2024, focusing on realistic expectations, multimodal capabilities, and responsible innovation.

She discusses moving past the hype around generative AI tools like ChatGPT and DALL-E to understand their true potential and limitations. The rise of multimodal AI, which integrates various data types, is set to revolutionize human-machine interaction.

She also delves into the quest for smaller, more efficient AI models and the importance of cost optimization in the face of rising GPU and cloud expenses. The episode highlights the benefits of custom local models for businesses seeking tailored solutions and greater control over their AI systems. She examines the growing role of virtual agents in automating tasks and enhancing productivity.

Finally, she emphasizes the significance of responsible AI practices, comprehensive governance policies, and the need to navigate the evolving regulatory landscape. The future of AI is ours to shape through innovation and responsible use.

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Transcript

Hanh: 00:00:05
Picture this. You have a never ending to do list with tasks ranging from booking appointments to filling out forms and managing customer inquiries. It's like juggling a dozen balls while trying to keep your business running smoothly. But what if you had a personal assistant that could handle all these tasks for

Hanh: 00:00:25
you without ever taking a coffee break?

Narrator: 00:00:33
Welcome to AI 50 Connect. The podcast that explores the latest trends and innovations in artificial intelligence. In this episode, AI Trends 2024, Realistic Expectations, Multimodal Capabilities, and Responsible Innovation. Host Hanh Brown takes us on a deep dive into the world of AI, separating the hype from reality and highlighting the

Narrator: 00:00:54
importance of ethical considerations. We will discuss the need for a reality check when it comes to AI tools like ChatGPT and DALI, emphasizing the importance of setting realistic expectations and understanding their limitations. We will explore the rise of multimodal AI, which combines various data types to create more

Narrator: 00:01:13
intuitive and natural interactions. Next, we will dive into the quest for smaller and more efficient AI models, the benefits of custom local solutions, and the power of virtual agents in automating tasks. We will also examine the impact of increased AI regulation and the legal battles surrounding the use of copyrighted data in training AI models.

Narrator: 00:01:36
Throughout the episode, Hanh underscores the importance of responsible AI use and the need for comprehensive corporate governance policies. Join us as we navigate the exciting and complex landscape of AI in 2024, with Hanh Brown as our guide. Hanh, let's get started.

Hanh: 00:01:59
Welcome to AI50 Connect. I am your host, Hanh Brown. Today's episode, AI Trends 2024, Realistic Expectations, Multimodal Capabilities, and Responsible Innovation, is all about getting real with AI. We're cutting through the hype, understanding what AI tools like ChatGPT really offer, and how they're evolving to be more than just novelties.

Hanh: 00:02:25
We'll dive into the rise of multi modal AI, which isn't just about text or images anymore. It's about AI that understands and integrates various data types, making our interactions more intuitive. And we can't ignore the big picture, the ethics and responsibility of using AI. It's about making sure these powerful tools benefit everyone.

Hanh: 00:02:52
Let's uncover what 2024 has in store for AI. With a keen eye on realistic expectations, the magic of multimodal capabilities, and the paramount importance of responsible innovation. Today, we're tackling a crucial topic, the reality check. In the past few years, we've seen an explosion of hype around

Hanh: 00:03:20
generative AI tools, like ChatGPT. These models can produce human like text, engage in conversations, and even create images from textual descriptions. It's like having a genie in a bottle, right? But as we move into 2024, the AI community is collectively taking a step back. We're moving past the initial excitement and hyperbolic headlines to develop

Hanh: 00:03:47
a more nuanced understanding of what these AI models can actually do, and more importantly, what they can't. You see, tools like ChatGPT are incredibly powerful, but they're not magic. They have limitations. They can make mistakes, produce bias or nonsensical outputs, and, and struggle with complex reasoning. As businesses and consumers, it's crucial

Hanh: 00:04:12
that we understand these limitations and set realistic expectations. That's where the trend of embedded AI comes in. Instead of positioning these models as standalone solutions, companies are integrating them into existing software and workflows. Microsoft's Copilot, for example, acts as an AI powered writing assistant in Word.

Hanh: 00:04:41
Adobe's Generative Fill uses AI to help users expand and edit images in Photoshop. By embedding AI in this way, we're setting the right expectations. These models become productivity aids, not replacements for human workers. They automate repetitive tasks, make intelligent suggestions, and enhance our capabilities. But they don't take over the whole job.

Hanh: 00:05:08
Think of it like the introduction of GPS navigation in cars. It's an incredibly helpful tool that suggests routes and provides real time updates. But it doesn't replace the need for a human driver. You're still in control, making decisions based on your judgment and experience. As we progress through 2024,

Hanh: 00:05:29
I predict we'll see more of this embedded AI approach. Companies will focus on seamlessly integrating AI into their products, positioning it as a co pilot rather than an autopilot. Users will grow accustomed to working alongside AI, leveraging in its strengths while understanding its weaknesses. Learn to harness its capabilities

Hanh: 00:05:54
to boost your productivity and creativity, but don't buy into the hype. That it will solve all your problems or replace human intelligence. I'm excited about the potential of these technologies, but I'm also a realist. By setting grounded expectations and focusing on integration, we can make the most of AI without getting carried away by the hype.

Hanh: 00:06:22
And speaking of potential, let's set the stage for our next segment. We'll be diving into the world of multimodal AI, exploring how models are learning to process and generate, not just text, but images, audio, and video. It's like having a Swiss army knife of AI capabilities. Remember, AI is a powerful tool, but it's not a silver bullet.

Hanh: 00:06:49
Approach it with a mix of enthusiasm and realism. You'll be well positioned to thrive in the AI driven world of 2024. Let's dive into the next big trend in AI for 2024. The rise of multimodal models, an AI that cannot only understand and generate text, but also process images, audio and video. It's like having a multi-talented

Hanh: 00:07:18
digital assistant that can handle any type of data you throw at it. Enter the world of multi modal AI. These advanced models are trained on multiple types of data, allowing them to seamlessly transition between different modes of communication. It's like having a superhero with multiple powers. Take GPT 4 and Google's

Hanh: 00:07:42
Gemini, for example. These cutting edge language models can analyze an image and answer questions about it using natural language. You could show them a picture of a cat and ask what color is the cat's fur, and they'd respond with ease. Imagine asking for instructions out loud and receiving not just a text response, but also synchronized

Hanh: 00:08:08
visual aids and step by step guidance. It's like having a personal tutor that adapts to your learning style. The magic behind multimodal AI lies in its ability to ingest and learn from diverse data sources. By training on videos, images, audio, and text, these models develop a more holistic understanding of the world. It's important to note that

Hanh: 00:08:36
developing multi modal AI comes with its own set of challenges. These models require extensive multi task training data, which can be difficult and expensive to obtain. It's like trying to find the perfect ingredients for a complex recipe. Despite the challenges, the potential of multi modal AI is truly exciting. It opens up new possibilities

Hanh: 00:09:00
for more natural and intuitive human machine interaction. Imagine having a conversation with an AI that can not only understand your words, but also pick up on your tone, facial expressions, and gestures. It's like having a digital companion that truly gets you. As we move through 2024, I predict we'll see more and more

Hanh: 00:09:25
applications of multimodal AI. From virtual assistants that can guide you through complex tasks, to educational tools that adapt to your learning preferences, The possibilities are endless, but as with any powerful technology, it's crucial that we approach multimodal AI with both enthusiasm and responsibility. We need to ensure that these models

Hanh: 00:09:48
are trained on diverse and unbiased data, and that they are used in ways that benefit society as a whole. I'm excited to see how multimodal AI will shape the future of human machine interaction. It's a thrilling time to be at the forefront of this technological revolution. The rise of multi modal AI

Hanh: 00:10:10
is just beginning, and we're in for an exhilarating ride. Get ready to experience the power of AI that can see, hear, and understand the world like never before. And speaking of power, our next segment, we'll dive into the fascinating world of smaller and more efficient AI models. We'll Believe it or not, sometimes less is more when it comes to AI,

Hanh: 00:10:38
but for now, let's marvel at the incredible potential of multimodal AI. It's a game changer that will redefine how we interact with technology and each other. Let's tackle the next big trend in AI for 2024, the quest for smaller and more efficient models. You've probably heard about the massive foundation models like GPT 4.

Hanh: 00:11:06
These behemoths are the giants of the AI world, boasting trillions of parameters. But with great size comes great energy consumption. Let's put it into perspective. Training a model like GPT 4 uses as much electricity as over 1, 000 households in a year. That's enough to power a small village and running daily queries on ChatGPT.

Hanh: 00:11:31
That can rival the energy usage of a staggering 33, 000 homes. It's like having a superpowered AI that requires its own dedicated power plant. Not exactly the most sustainable solution, right? But fear not, the industry is rising to the challenge and driving innovation in developing smaller, more parameter efficient models.

Hanh: 00:11:57
It's like putting AI on a diet and optimizing its performance. Take Mistral's Mixtrel, for example. This open source model boasts just 56 billion parameters, a fraction of GPT 3's size. But here's the kicker. It claims to deliver superior performance compared to its larger counterparts. Talk about punching above its weight.

Hanh: 00:12:25
The beauty of these smaller models lies in their versatility. They enable on device deployment, meaning you can run AI directly on your personal laptop or hardware. No more reliance on power hungry cloud services. It's like having a pocket sized AI assistant that's always ready to help. But the benefits don't stop there.

Hanh: 00:12:49
Smaller models also mean faster training times, reduced costs, and improved accessibility. It's a win win win situation. As we move through 2024, I predict we'll see a surge in the development and adoption of these compact, yet mighty AI models. Researchers and companies alike will focus on pushing the boundaries of efficiency

Hanh: 00:13:12
without sacrificing performance. It's an exciting time to be in the AI field, as we witness the shift from bigger is better to smaller is smarter. And as an AI enthusiast, I can't wait to see how these efficient models will revolutionize the way we interact with and deploy AI in our daily lives. But of course, the quest for efficiency doesn't end with smaller models.

Hanh: 00:13:40
In our next segment, we'll explore how the drive for optimization is influencing GPU and cloud costs. Spoiler alert, it's all about finding the right balance. For now, let's marvel at the incredible potential of these compact AI powerhouses. They may be small in size, but they're making a big impact in the world of artificial intelligence.

Hanh: 00:14:07
Keep your eyes peeled for the rise of smaller and more efficient AI models. They're proof that sometimes the best things come in small packages. So now, we're diving into a crucial topic, GPU and cloud cost considerations in the era of generative AI. As we've seen, large AI models like GPT 4 are the heavyweight champions of the AI world.

Hanh: 00:14:38
But with great power comes great cost, especially when it comes to GPU resources. Training and running, or tooling these models requires a significant amount of GPU horsepower, which drives up cloud computing expenses. It's like fueling a high performance race car. The faster you want to go, the more you have to spend on premium gas.

Hanh: 00:15:04
As the adoption of generative AI grows, cloud providers are feeling the heat. They're under pressure to invest in optimized GPU infrastructure to meet the soaring demand. But here's the catch. GPUs are in short supply, and that scarcity comes with a hefty price tag. It's a classic case of supply and demand. As more businesses jump on

Hanh: 00:15:28
the AI bandwagon, the cost of GPU resources skyrockets. And guess who bears the brunt of those increased operating costs? The AI industry is adapting to these challenges by focusing on smaller, more efficient models. It's like downsizing from a gas guzzling SUV to a sleek, eco friendly hybrid. By developing models that require

Hanh: 00:15:53
fewer parameters and less computational power, businesses can manage the rising cloud and infrastructure expenses. It's a necessity in the face of escalating costs and limited GPU availability. But the benefits of this trend go beyond just saving money. Smaller, efficient models also enable faster deployment, improve scalability, and reduce environmental impact.

Hanh: 00:16:22
It's a win win situation for both the bottom line and the planet. As we navigate through 2024, I predict we'll see a growing emphasis on cost optimization in the AI realm. Companies will seek out innovative solutions to maximize performance while minimizing expenses. It's like finding the perfect balance between power and efficiency.

Hanh: 00:16:45
And that's where techniques like quantization, pruning, and model compression come into play. These approaches allow us to streamline AI models without sacrificing too much in terms of accuracy. It's like putting your model on a lean, mean, cost cutting machine. But the quest for cost efficiency doesn't stop there.

Hanh: 00:17:06
In our next segment, we'll explore how businesses are taking control of their AI destiny by embracing custom, local models. Get ready to discover the power of bringing AI in house. For now, let's applaud the AI community for rising to the challenge of GPU and cloud cost considerations. By prioritizing efficiency and optimization, we're paving the way for a

Hanh: 00:17:31
more sustainable and accessible AI future. So my fellow cost conscious AI enthusiasts, keep a watchful eye on the evolving landscape of GPU and cloud expenses. And remember, sometimes the smartest solutions come in smaller, more efficient packages. Let's talk about the next big thing in 2024.

Hanh: 00:17:59
The exciting world of model optimization techniques. Now, I know what you might be thinking. Optimization, isn't that just a fancy word for making things more complicated? These techniques are actually designed to simplify and streamline AI models, making them more efficient and cost effective for your business. Let's start with quantization.

Hanh: 00:18:25
Imagine you have a huge spreadsheet full of numbers, but you only need a rough estimate of the values. Quantization is like rounding off those numbers to the nearest whole digit. It reduces the memory needed to store the data without losing too much accuracy. It's like compressing a high resolution image into a smaller file size. You still get the essential

Hanh: 00:18:48
information, but it takes up less space. Next up, we have low rank adaptation or Laura for short. Think of it as a shortcut for fine tuning, large AI models. Instead of updating every single parameter, which can be time consuming and resource intensive. Laura focuses on a smaller subset of important weights.

Hanh: 00:19:16
It's like having a personal trainer who targets specific muscle groups instead of making you do a full body workout every session with Laura. You can quickly adapt a pre trained model to your specific business needs without breaking the bank. Now, let's talk about mixture of experts or MOE models. Imagine you have a team of specialists,

Hanh: 00:19:38
each with their own area of expertise. A MOE model works similarly by incorporating multiple sub networks that specialize in different tasks. It's like having a marketing expert, a financial analyst, and a customer service guru all working together to solve a complex business problem. By leveraging the strengths of each specialist, MOWI models can tackle

Hanh: 00:20:08
diverse tasks that More efficiently than a single generic model. Researchers are constantly exploring new techniques to get the most bang for your buck in terms of model performance. Pruning is like decluttering your AI model, removing unnecessary connections and parameters. Sparsity is like putting your model on a diet, focusing on the most important

Hanh: 00:20:35
information and discarding the rest. It's all about finding the right balance between efficiency and effectiveness. So, why should you care about these optimization techniques as a business owner? Well, for starters, they can help you save money on computational resources and storage costs. By making your AI models leaner and

Hanh: 00:20:53
meaner, you can reduce your reliance on expensive hardware and cloud services. Plus, optimized models tend to run faster and respond more quickly to user queries Leading to a better customer experience, but perhaps most importantly, these techniques democratize AI, making it more accessible to businesses of all sizes. You don't need a massive budget or a team of PhDs to leverage the power of AI.

Hanh: 00:21:24
With optimized models, you can start small, iterate quickly, and scale up as your needs grow. So, my fellow business owners and AI enthusiasts, Don't be intimidated by the jargon. Embrace the world of model optimization and discover how it can help you achieve your business goals more efficiently and effectively.

Hanh: 00:21:50
And speaking of efficiency, stay tuned for our next segment, where we'll explore the benefits of custom local models and how they can give you even more control over your AI destiny. Remember, optimization is your friend. It's like having a personal assistant that helps you streamline your AI workflows, saving you time, money, and headaches along the way.

Hanh: 00:22:14
So let's raise a toast to the unsung heroes of model optimization. May your AI models be lean, mean, and ready to tackle any business challenge that comes their way. The next anticipated big thing in 2024 in the world of AI is custom local models. Now, I know what you might be thinking, local models? Isn't the whole point of AI to

Hanh: 00:22:44
leverage the power of the cloud? Custom local models are like having your very own AI superpower tailored specifically to your business needs. Imagine this. You have a wealth of proprietary data and unique use cases that set your organization apart. With open source models, you can train custom versions of AI that are fine

Hanh: 00:23:12
tuned to your specific requirements. Thanks. It's like having a bespoke suit made just for you, instead of settling for an off the rack option. But the benefits don't stop there. By keeping your model, training, and deployment local, you maintain complete control over your sensitive data. No more worrying about sharing

Hanh: 00:23:33
your trade secrets or customer information with third party providers. It's like having a personal vault for your AI assets, with you holding the key. And here's the kicker, with retrieval techniques like RAG, Retrieval Augmented Generation, you can supplement your local models with relevant information from external sources on the fly. It's like having a personal librarian.

Hanh: 00:24:02
That fetches the exact book you need without having to store the entire library on your shelf. This approach allows you to keep your models lean and mean while still providing them with the knowledge they need to excel. But perhaps the most compelling reason to embrace custom local models is the peace of mind they offer.

Hanh: 00:24:24
With local control, you can ensure that your AI complies with all relevant regulations and security standards. No more worrying about data breaches or unauthorized access. It's like having a personal body guard for your AI, making sure it stays within the boundaries you set. Now, I know what you might be thinking. This all sounds great, but isn't

Hanh: 00:24:45
it complicated and expensive to build custom models? Well, my friends, that's where the beauty of open source comes in. With the rise of accessible AI frameworks and pre trained models, Building your own custom solution has never been easier or more cost effective. It's like having a recipe book for AI with all the ingredients

Hanh: 00:25:11
and instructions laid out for you. So why should you care about custom local models as a business owner? For starters, they give you a competitive edge by leveraging AI that's tailored to your unique needs. You can make better decisions, automate processes, and deliver personalized experiences to your customers. It's like having a secret weapon that

Hanh: 00:25:33
your competitors don't have access to. But more than that, custom local models put the power of AI in your hands. You're not dependent on the whims of a third party provider or the limitations of a generic model. You have the freedom to innovate, experiment, and adapt your AI to your evolving business requirements. It's like being the master

Hanh: 00:25:58
of your own AI destiny. So my fellow business owners and AI enthusiasts, don't be afraid to think local, embrace the power of custom models and take control of your AI journey. And speaking of control, stay tuned for our next segment, where we'll explore the world of virtual agents and how they can automate tasks and streamline your operations like never before.

Hanh: 00:26:26
Remember custom local models. Are your key to unlocking the full potential of AI for your business? There's like a bespoke suit, a personal vault in a secret weapon, all rolled into one. So let's raise a toast to the unsung heroes of custom AI. May your models be tailored, your data be secure, and your business

Hanh: 00:26:49
be propelled to new heights. Let's dive into the exciting world of virtual agents and task automation. Picture this. You have a never ending to do list with tasks ranging from booking appointments to filling out forms and managing customer inquiries. It's like juggling a dozen balls while trying to keep

Hanh: 00:27:17
your business running smoothly. But what if you had a personal assistant that could handle all these tasks for you without ever taking a coffee break? Enter the world of virtual agents. Gone are the days of simplistic chatbots that could barely understand your queries. Let alone provide meaningful assistance in 2024, conversational AI agents are graduating to a

Hanh: 00:27:41
whole new level of sophistication. They're like the valedictorians of the AI world. Ready to tackle complex tasks and automate processes like never before. Imagine having a virtual agent that can directly make reservations on your behalf. Whether it's booking a table at a restaurant or scheduling a meeting with a client.

Hanh: 00:28:09
No more endless phone calls or email chains. Your virtual assistant takes care of it all, freeing up your time to focus on the big picture stuff. But it doesn't stop there. These virtual agents can also fill out forms, extract relevant information, and even connect to external services and APIs.

Hanh: 00:28:31
It's like having a superhuman admin that can navigate the digital world with ease. Virtual agents are bringing general task automation and personal productivity assistance to businesses of all sizes and sectors. It's like having a Swiss Army knife for your daily operations, with each tool perfectly adapted to your needs. But the benefits of virtual agents go

Hanh: 00:28:54
beyond just saving time and effort. By automating routine tasks, You're also reducing the risk of human error and ensuring consistency across your processes. It's like having a quality control expert on your team, making sure that every task is completed accurately and efficiently. Plus, with virtual agents handling the mundane stuff, your human

Hanh: 00:29:22
employees can focus on the tasks that truly require their creativity, empathy, and problem solving skills. It's a win win situation. Your team gets to do more meaningful work, while your business reaps the benefits of increased productivity and customer satisfaction. Now, I know what you might be thinking. This all sounds too good to be true.

Hanh: 00:29:48
What's the catch? Well, my friends, the catch is that you need to choose the right virtual agent solution for your business. Not all AI assistants are created equal, and it's crucial to find one that aligns with your specific needs and integrates seamlessly with your existing systems. With the rapid advancements in conversational AI and the growing

Hanh: 00:30:15
ecosystem of virtual agent providers, finding the perfect match for your business has never been easier. It's like having a personal matchmaker for your AI needs, helping you find the one that will take your productivity to new heights. So my fellow business owners and productivity enthusiasts. Don't miss out on the

Hanh: 00:30:37
virtual agent revolution. Embrace the power of automated task completion and watch your business soar. And speaking of soaring, stay tuned for our next segment, where we'll explore the impact of AI regulations. And how to navigate the evolving legal landscape. Remember, virtual agents are your secret weapon for productivity and growth.

Hanh: 00:31:07
They're like a personal assistant, a quality control expert in a Swiss army knife, all rolled into one. The next crucial topic in 2024 is increased regulation of AI. As AI becomes more powerful and pervasive, governments and regulatory bodies are taking notice. It's like the Wild West of technology is finally getting some sheriffs

Hanh: 00:31:38
in town, and leading the charge is, is the European Union with their Artificial Intelligence Act. Think of the AI Act as a set of guardrails for the development and use of AI systems. It's like a code of conduct for the AI industry, ensuring that the technology is developed and deployed responsibly. The Act aims to protect citizens rights, promote trust in AI, and create

Hanh: 00:32:06
a level playing field for businesses. It's like having a referee on the field, making sure everyone plays by the rules. But the regulatory landscape isn't just about new laws. There are also ongoing legal battles around the fair use of copyrighted data in training AI models. It's a tricky balancing act between fostering innovation and protecting

Hanh: 00:32:32
intellectual property rights. Imagine you're an artist who spent countless hours creating a unique style, only to find out that an AI model has been trained on your work without permission. It's like having someone copy your signature dish and pass it off as their own. As generative AI's capabilities rapidly expand across public and private

Hanh: 00:32:58
domains, the need for regulatory oversight becomes even more pressing. These models can create content that looks and sounds like it was made by humans, blurring the lines between original and generated work. It's like having a Photoshop for everything with the potential to create both amazing and misleading content. But here's the thing, regulation

Hanh: 00:33:20
isn't just about restricting AI. It's also about creating a framework for responsible innovation. By setting clear guidelines and boundaries, regulations can actually help businesses navigate the complex landscape of AI ethics and compliance. It's like having a map and a compass for your AI journey, helping you stay on course and avoid pitfalls.

Hanh: 00:33:51
So what does this mean for you as a business owner? First and foremost, it means staying informed about the evolving regulatory landscape. Keep an eye on developments like the AI Act and the outcomes of legal battles around data use. It's like being a scout for your business, always on the lookout for

Hanh: 00:34:11
potential challenges and opportunities. Secondly, it means embedding responsible AI practices into your organization's DNA. This includes being transparent about your AI use, ensuring data privacy and security, and regularly auditing your AI systems for fairness and accountability. It's like having a checklist for AI best practices. Making sure you're ticking all the boxes.

Hanh: 00:34:37
Finally, it means collaborating with regulators, industry partners, and other stakeholders to shape the future of AI governance. No one has all of the answers and it's through open dialogue and shared learning that we can create a regulatory framework that balances innovation and responsibility. It's like being part of a team working

Hanh: 00:34:58
together towards a common goal. So my fellow, uh, business owners and AI enthusiasts don't fear the increased regulation of AI embrace it as an opportunity to build trust. Mitigate risk and create a sustainable future for this transformative technology. Speaking of the future, stay tuned for our final segment, where we'll delve into the world of explainable AI and

Hanh: 00:35:27
how it can help you build transparency and accountability into your AI systems. But for now, remember, Responsible AI isn't just a buzzword. It's a commitment to using this powerful technology in a way that benefits society as a whole. Next, we are going to shine the light on a shadowy topic. Shadow AI and the importance

Hanh: 00:35:57
of responsible use. Imagine this, your employees are using generative AI tools without your knowledge or oversight. It's like having a secret society of AI enthusiasts within your own company. While their intentions may be good, this unauthorized usage can lead to some serious risks. First and foremost, there's the

Hanh: 00:36:20
danger of inadvertently exposing trade secrets or intellectual property. If employees are training AI models on sensitive data without proper safeguards. It's like leaving the vault door wide open. Your company's crown jewels could be walking right out the front door. But it's not just about data leaks. There's also the potential

Hanh: 00:36:44
for copyright infringement. If employees are using proprietary data to train AI models without the necessary licenses or permissions, it's like plagiarizing someone else's work. You wouldn't want your company to be accused of stealing, would you? And let's not forget about the reputational risk. If word gets out that your company

Hanh: 00:37:06
is using AI irresponsibly or unethically, it can be a PR nightmare. It's like having a stain on your brand that no amount of spin can remove. So, what's the solution? It all comes down to comprehensive corporate governance and responsible AI implementation policies. Think of it as a rule book for AI use within your organization.

Hanh: 00:37:33
It's like having a code of conduct that everyone must follow, from the intern to the CEO. These policies should cover everything from data privacy and security to ethical considerations and legal compliance, but policies alone aren't enough. It's also crucial to educate your employees about the importance of responsible AI use.

Hanh: 00:37:59
This includes training them on best practices, providing clear guidelines and fostering a culture of transparency and accountability. It's like having a team of AI superheroes equipped with the knowledge and tools to use their powers for good. So, my fellow business owners and AI enthusiasts, don't let shadow AI cast a dark cloud over your organization.

Hanh: 00:38:24
Embrace the light of responsible use and take control of your AI destiny. By implementing comprehensive governance policies, educating your employees, and fostering a culture of responsibility, you can harness the power of AI while mitigating the risk. It's like having a secret weapon for innovation and growth, but one that's wielded with wisdom and care.

Hanh: 00:38:53
And that, my friends, brings us to the end of our journey through the AI trends of 2024. We've explored the rise of multi modal AI, the quest for smaller and more efficient models, the importance of custom local solutions, the power of virtual agents, the impact of increased regulation, and the necessity of responsible use. But the journey doesn't end here.

Hanh: 00:39:20
As AI continues to evolve at a breakneck pace, it's up to us, the business owners, the innovators, the enthusiasts, to make it happen. To shape its future, we have the power to create an AI landscape that is innovative, inclusive, and responsible. So let's rise to the challenge. Let's create a world where AI is not a shadowy threat, but

Hanh: 00:39:43
a shining beacon of progress. The future is ours to write, and I can't wait to see what incredible stories we'll tell. Thank you for joining me on this adventure until next time. Stay curious, stay responsible, and keep pushing the boundaries of what's possible.

Narrator: 00:40:07
As we conclude this captivating episode of AI50 Connect, let's take a moment to reflect on the exhilarating journey we've just undertaken. Today's adventure has been a thrilling deep dive into the world of AI and data, packed with eye opening insights and groundbreaking ideas that are shaping the future. Imagine AI as a key, unlocking

Narrator: 00:40:25
new realms in data intelligence. It's not just about processing information. It's about sparking a revolution for tech enthusiasts and business leaders alike. AI is the secret weapon for making smarter, faster, and bolder decisions. Envision AI transforming your business. Workflows streamline like never before, trends emerging crystal

Narrator: 00:40:50
clear, errors shrinking, and a team energized like a well oiled machine. It's not just about growth. It's a complete metamorphosis of your business universe. At AI50, we're more than just another voice in the podcast world. We're your AI navigators. Our mission is to empower and inspire your journey with tailored,

Narrator: 00:41:12
cutting edge AI and data strategies. We craft solutions that don't just fit, they propel your unique vision forward. Intrigued by what AI50 can do for your business? We're just a chat away. Let's connect and turn your data into a powerhouse of strategy and innovation. To stay on the pulse of AI, be sure to follow AI50 and Hanh Brown on LinkedIn.

Narrator: 00:41:35
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Thank you for tuning in to AI50 Connect. Remember, you're not just following the AI revolution, you're leading it. Until next time, stay curious, stay connected, and be the change with AI50. We can't wait to see you on the next frontier of AI exploration.