Goldman Sachs CIO predicts 2024 spotlight: Hybrid AI and apps!

In a recent interview with Goldman Sachs CIO Marco Argenti, he predicted that hybrid AI and the rise of applications running on large language models would be the focus of the AI industry in 2024. Argenti defined hybrid AI as using larger models to interpret user prompts, while smaller neural nets would be used for more specialized tasks. He also expects the emergence of a new class of third-party applications built on top of foundation models. However, Argenti noted that building large models would be too expensive for most companies, limiting them to smaller models trained on their proprietary data. He emphasized the need for collaboration to address issues such as security, bias, discrimination, safety, and privacy in the development of AI. Argenti believes that in order for the US to remain a leader in AI development, an environment that encourages collaboration and appropriate regulation is necessary.