2024 is predicted to be the Year of the Dragon in the Chinese Zodiac, marking the widespread integration of generative AI (gen AI) across various sectors. Advancements in hardware and software have opened up dynamic applications of gen AI, leading to increased volume and variety of applications. The decline in the cost of training foundational large language models (LLMs) has democratized gen AI development, leading to a surge in innovative LLM-based applications. Additionally, the evolution towards locally executed AI and the increasing popularity of small language models (SLMs) are expected.

AI Age: Year of the Dragon