In the decades to come, 2023 may be remembered as the year of generative AI hype, where ChatGPT became arguably the fastest-spreading new technology in human history and expectations of AI-powered riches became commonplace. The year 2024 will be the time for recalibrating expectations. Of course, generative AI is an impressive technology, and it provides tremendous opportunities for improving productivity in a number of tasks. But because the hype has gone so far ahead of reality, the setbacks of the technology in 2024 will be more memorable. More and more evidence will emerge that generative AI and large language models provide false information and are prone to hallucination--where an AI simply makes stuff up, and gets it wrong.

Debanjan Saha is CEO of DataRobot and a visionary technologist with leadership experience at top tech companies such as Google, AWS and IBM. We may be on our way to a greater economic downturn as we look to 2023. Automation software and technologies that increase companies' insights and efficiencies tend to be contra-cyclical (doing better in down markets) as companies look to do more with less. AI-driven companies can exploit differences in time to action relative to competitors--even ones that have already created a strong business intelligence (BI) framework, according to a McKinsey Global Institute analysis. According to another McKinsey report, AI's impact on the bottom line is growing, with the share of respondents reporting at least 5% of earnings before interest and taxes (EBIT) that's attributable to AI increasing from 22% to 27% year over year.

In the digital world, the consumer industry is heavily powered by virtual assistants and chatbots. Will you believe it if I tell you that chatbots came into existence in 1966? An MIT professor called Joseph Weizenbaum introduced the first chatbot, ELIZA, back in the 1960s. ELIZA used substitution methodology and pattern matching to simulate conversation. Almost six decades later, artificial intelligence developments are powering virtual assistant and chatbot predictions.

Artificial Intelligence has already earned its place in the business application. Be it trend spotting, future prediction or workflow management, AI has distinctive uses in industry and creating new opportunities. Business applications are tools or a set of computer software which company are using to increase productivity and to perform the various task of the business with ease. Let's glance at AI-empowered tools ONPASSIVE is using to enhance any business gracefully: AI-Enabled Crowdfunding: Crowdfunding has levelled up with the evolution of AI, raising the chances for success. What once used to be a closed area for the big venture are now an open area for everyone.

An army of robots now scrub floors, grow microgreens and flip burgers. Due to advances in artificial intelligence, computers will supposedly take over much more of the service sector in the coming decade, including jobs in law, finance and medicine that require years of education and training. Will automation-induced job loss tear society apart? The question has even influenced the US presidential race. Candidate Andrew Yang blames automation for a long-simmering crisis of underemployment.

NEW YORK (Reuters) - Money transfer company TransferWise has launched a new service that allows users to send money internationally through Facebook Inc's chat application, as competition in the digital payments landscape intensifies. The London-based startup said on Tuesday that it had developed a Facebook Messenger "chatbot", or an automated program that can help users communicate with businesses and carry out tasks such as online purchases. TransferWise's chatbot enables customers to send money to friends and family to and from the United States, Britain, Canada, Australia and Europe from Facebook Messenger. It can also be used to set up exchange rate alerts. Facebook already allows its users to send money domestically in the United States via its Messenger app, but has not yet launched similar services internationally.

As cool as those handheld 3D printing pens are, you have to have some amount of talent (or at least practice) in order to make anything that's much more recognizable than a mangled three-dimensional squiggle. A proper 3D printer is basically one of those 3D printing pens stapled to a robot that can move it in three axes and do a much better job making things that look nice and function well, but it doesn't allow for much artistic participation from you. For some people, that's the point, but if you'd like to be more directly involved, Yeliz Karadayi's thesis project, called "Guided Hand," is a 3D printing pen with a haptic interface that helps keep you from screwing things up too badly. These haptic interfaces are basically little robot arms, although you can produce the same effect with robot arms of any size). It's hard to explain how it feels to use one of these things, and the experience doesn't come through very well on video, but basically, the end of the arm (being a robot) knows exactly where it is in 3D space, which means it can tell whether it is about to intersect a virtual 3D object or not.