2023 may be the year that marks the beginning of generative AI becoming popular among those in the tech industry.
Generative AI can be used to create a variety of output, such as computer code, artworks, or essays. While the end product might not be flawless, this technology has become indispensable in certain sectors and occupations.
Microsoft's support of ChatGPT facilitated its launch in late 2022, and since then, many competitors have followed suit.
This month brought one of the most significant advances, with Alphabet, the parent company of Google, introducing Gemini - an AI to be incorporated into Google’s products, including its chatbot and search engine.
Alphabet declares that Gemini surpasses the current iteration of ChatGPT.
OpenAI has stated that they will not be staying in the same place, and have declared that a more powerful iteration of their software will be available in the upcoming year.
At a software developers conference in November, Sam Altman, the CEO of OpenAI, proclaimed that what they launched at the time would appear outdated compared to the projects they were currently pursuing.
Investors are investing capital into the sector, with the goal of supporting the potential successful newcomer.
As per data from PitchBook, venture capital companies invested an aggregate of $21.4 billion (roughly £17.5 billion) into start-up firms which work with generative AI, up to the end of September.
In 2022, the total investment was only $5.1 billion.
Nevertheless, some are cautioning that we shouldn't be too euphoric. As per Ben Wood, the primary analyst from CCS Insight, a "cold shower" for generative AI will be seen in 2024.
He believes that the hype has neglected to take into account certain hindrances which will impede it for a while.
He emphasizes the cost of establishing and managing a generative AI system, which demands large amounts of computing power and rare computer components.
He predicts that to reduce those expenses, some AI will shift to a hybrid system, in which some of the processing occurs locally - such as on your laptop or phone.
Mr Wood believes that regulation and legal strife could have a dampening effect on the current fervor surrounding generative AI.
Companies may discover that they spend a lot of funds for an AI-based service, only to have to retract some of that investment in order to meet regulatory requirements.
By the beginning of the upcoming year, one millionth all-electric car will have commenced travelling on British roads, according to Schmidt Automotive Research. This will make the UK the second country, after Germany, to achieve that milestone.
Even though it's predicted, 2024 is set to be a difficult year for EV manufacturers.
At the end of 2023, Ford, GM and Tesla all stopped working on projects to increase the production of electric vehicles. In October, Mercedes-Benz described the market for electric cars as "aggressive", pointing to price competition and problems with the supply chain.
It is not forecasted by analysts that matters will get any simpler.
Matthias Schmidt, an auto market analyst, predicts that EV sales in Europe will not experience any significant increase in 2024. In countries traditionally acknowledged for their strong EV sales such as Germany and Norway, he estimates almost no growth in figures.
Nonetheless, the UK could stand out due to its zero emission vehicle (ZEV) mandate. Starting from January, a percentage of more than one fifth of vehicles sold has to be electric and it is anticipated that the goal for 2030 should reach 80%.
It could be a positive development for anyone who has the funds to purchase an electric vehicle.
Mr Schmidt believes it will be a market favoring buyers in particular when it comes to electric cars, as producers hasten to satisfy ZEV mandate objectives.
He claims that manufacturers will be careful not to be too obvious about price reductions, but they will be hidden within financing deals and additional features given without additional cost.
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In the coming year, humanoids robots may appear to be more useful. At Tesla, their engineers are engaged in creating Optimus - a robot of a humanlike form, which they anticipate can soon be utilized for performing fundamental factory activities.
This past month, footage was disseminated depicting the most recent adaptation of Optimus - appreciably lighter in weight than its predecessor, fitted with updated hands, and fueled by new motors.
In July, Mr Musk stated that Optimus would have the ability to operate in a Tesla factory by 2024.
Regarding when it will be able to accomplish something helpful, we'll initially be experimenting with this in our own manufacturing plants - to verify its utility. Nevertheless, I am pretty sure we can have it do something of value in our plants sometime in the next year.
Tesla is not the only company in the arena of humanoid robots; there are other companies whose robots are gaining proficiency at work-related undertakings.
Amazon is experimenting with a robot resembling a human in its storehouses. Named Digit, it is capable of maneuvering, grasping and dealing with items like a person.
Agility Robotics has engineered Digit robots, with plans to provide them to patrons in the upcoming year.
Meanwhile, in Canada, Sanctuary AI has been teaching its robot, Phoenix, to carry out distinct tasks such as packing bags. The goal is to expand the scope of activities Phoenix is capable of doing by 2024.
Demand for one particular pharmaceutical treatment has been so tremendous that its maker is having difficulty keeping up with it.
Novo Nordisk's flagship drug semaglutide, commercially known as Wegovy, has been a tremendous hit, leading to the Danish pharmaceutical giant being briefly deemed Europe's most valuable company.
In order to meet customer needs, the Danish company is investing billions of euros into enlarging its manufacturing plants.
At present, Wegovy is prescribed as a weekly injection; however, a tablet form is almost finished. Novo Nordisk has not disclosed when the tablet will be available for sale.
It is anticipated that the Danish company will face increased competition in the coming year.
Mounjaro, manufactured by Eli Lilly, has lately been accepted as a weight-loss remedy in the United States and the United Kingdom, and looks set to follow suit in the European Union.
At the same time, Pfizer has been attempting to receive approval for its diet supplement.
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