Prateek Suri, Maser CEO, Unveils Bold AI Projections for 2024: Navigating the Future of Consumer Electronics

Maser CEO, Prateek Suri, shares his predictions for the AI landscape in 2024.

Predictions for GenAI in Consumer Electronics: Navigating the  Landscape in 2024

2024 marks a significant milestone for the consumer electronics industry as GenAI, a transformative force in artificial intelligence, begins its journey into the mainstream. Here are the key trends and predictions for this groundbreaking year:

1. Skyrocketing GenAI Investments and the Reshaping of Consumer Electronics

The focal point of the battleground will revolve around the competition between ‘Open Source vs. proprietary models,’ causing a shift in the competitive landscape and the dynamics of IP protection. This has the potential to influence OpenAI’s position by late 2024 and Q2 2025.

The consumer electronics industry is on the cusp of a paradigm shift, fueled by the continued high investments in Generative AI (GenAI) startups. These investments, projected to surpass $50 billion by 2025, are driven by the immense potential of AI to reinvent how we interact with our devices. At the heart of this revolution lies the battle between two key model types:

Large Language Models (LLMs): These versatile, open-source models like Jurassic-1 Jumbo and Megatron-Turing NLG can generate text, translate languages, and write different kinds of creative content. Their strengths lie in their adaptability and accessibility, fostering a vibrant ecosystem of innovation.

Limited Model Markets (LMMs): Developed and owned by individual companies, LMMs are hyper-focused on specific tasks like speech recognition or image generation. While less versatile, they offer superior performance and tighter integration with hardware, making them ideal for consumer electronics applications.

This “Open Source vs. Proprietary” model clash will significantly impact the competitive landscape. Open-source LLMs empower smaller players to compete with established giants, democratizing access to cutting-edge AI technology.

However, LMMs, backed by vast R&D resources of large corporations, can offer more refined and optimized experiences, potentially creating walled gardens of exclusive features.

This dynamic will play out in exciting ways. Imagine smart speakers powered by LLMs that can hold nuanced conversations, adapting to your unique preferences and evolving over time through community contributions. Conversely, picture personalized fitness trackers with LMM-powered coaches delivering real-time training plans tailored to your biometrics and preferences.

Ultimately, the winners will be the consumers. The influx of GenAI investments will not only drive down prices but also lead to a wider range of intelligent devices catering to diverse needs and budgets. Whether it’s open-source LLMs fostering collaboration or proprietary LMMs pushing the boundaries of performance, the future of consumer electronics is undeniably AI-powered, and the possibilities are as limitless as our imagination.

2. Sustainable Tech Winners:

Companies that manage to achieve revenue growth outpacing energy consumption evolution by 5 or 6 times will emerge as the true winners in the GenAI landscape. Balancing the benefits of AI adoption with energy efficiency will be crucial for sustained success.

3. Mass Adoption of GenAI in Workstations:

GenAI is expected to witness mass adoption in workstations, either through software packages or opt-in features, influencing how individuals interact with technology in their daily lives.

4. Reinvention of the Consumer Marketplace:

A promising start to a GenAI-fueled reinvention of the consumer marketplace is anticipated. This transformation will likely lead to innovative and personalized consumer experiences driven by AI.

One of the big smartphone makers launched a new generative artificial intelligence platform directly aimed at challenging ChatGPT, setting the stage for global rivalry in the evolution and leadership in the GenAI space.

5. Advancements in Specialized LLMs:

Specialized Open Source Large Language Models (LLMs) will make significant strides in conversational voice, speech, videos, and connectivity.  In 2024, it is foreseen that specialized Open Source Large Language Models (LLMs) will come to the forefront, demonstrating high-performance capabilities across diverse sectors such as Biology, Chemicals, Logistics, and Energy, acting as transformative catalysts.

Goldman Sachs, in an October report, revised its estimates, anticipating that generative artificial intelligence will make a more substantial contribution to the global gross domestic product in the next decade. The revised range is now expected to be between 10% and 15%, surpassing the previously estimated range of 7% to 13%.

Potential Threats:

1. GenAI-Fueled Cybersecurity Attacks:

Voice of SecOps Report showed that 75% of security professionals witnessed an increase in attacks over the past 12 months, with 85% attributing this rise to bad actors using generative AI.  The looming threat of impactful GenAI-fueled cybersecurity attacks requires heightened vigilance and robust security measures to safeguard against potential risks.

2. BYOAI (Bring Your Own AI) Threat:

Companies should embrace a bottom-up approach to AI adoption at the edge, guiding it instead of obstructing it. Establishing an AI Center of Excellence serves as a framework to ensure that Bring Your Own AI (BYOAI) aligns with organizational goals and ethical considerations. Given the widespread integration of AI into smartphones and devices, the implementation of responsible data governance becomes imperative.

3. Legal Challenges:

Legal battles over intellectual property rights would be on the increase, especially if GenAI systems incorporate patented technologies or if there are disputes regarding the ownership of algorithms, datasets, or specific functionalities. This may slow down GenAI deployment and could be worsened by politics with the 2024 US elections in sight.

At Maser, we are at the forefront of transformative programs aligned with these trends:

1. Strategic Transformations: Unleashing the Business Impact of GenAI at Maser

We have chosen to cultivate proprietary generative AI models, driven by a strategic imperative to bolster security and privacy. Our decision is rooted in the intention to mitigate dependence on open-source models such as ChatGPT or Bard, aiming to safeguard sensitive information.

I expect this trend to persist among major corporations, conducting controlled experiments with internal generative AI platforms to enhance operational efficiency. These endeavors, though seemingly “small,” hold substantial value in shaping the trajectory of future generative AI applications.

2. Maser’s GenAI Impact

In the cutthroat world of tech, I believe mere innovation isn’t enough. To truly dominate, we’re spearheading a silent revolution: building a proprietary AI platform fueled by curated datasets and governed by rigorous AI governance. This isn’t just about throwing money at algorithms; it’s about meticulous change management, ensuring every department embraces, understands, and utilizes this powerful tool. The result?

Unmatched quality and real-time reportage, empowering Maser to outmaneuver competitors at every turn. Imagine optimizing production lines with AI-powered predictive maintenance, crafting hyper-personalized marketing campaigns based on proprietary customer data, or even developing revolutionary new products, all within the secure confines of own AI ecosystem. This is the future Maser is building, brick by meticulously-governed brick, and it’s a future no competitor can afford to ignore.

3. CorpGPT Innovation: Shaping Future Corporate AI

We aspire to deliver an all-encompassing mobile AI experience, merging on-device AI innovations from Maser and cloud-based AI through collaborative partnerships with industry leaders who share our vision. Our goal is to revolutionize users’ mobile interactions, providing a heightened sense of privacy assurance.

Maser is at the forefront of molding the GenAI enterprise platform, prioritizing privacy, interoperability, and maximizing value. Through the seamless integration of diverse datasets, adherence to transparent AI policies, and the establishment of a robust multi-cloud infrastructure, Maser is shaping the trajectory of AI evolution in the consumer electronics industry.