From the rise of cutting-edge AI applications to the evolution of sustainable tech solutions, anticipation is mounting. As industry leaders race to unveil the next generation of gadgets and software, a sense of curiosity grips the tech community regarding where the boundaries are set to be pushed once again in the upcoming year.

However, analysts have drawn a different picture regarding the faster emerging Artificial Intelligence (AI) potentially as they say it will lose its value in the upcoming years.

In a CNBC report, Ben Wood, a chief analyst of CCS Insight, a leading research and advisory company focused on the connected world and the future of technology, said that it might harm governments and people over its advancement.

The CCS insight made several predictions for the future of the technology industry in the upcoming year 2024 which pointed to the lies about AI. This technology has been taking the lede in headlines since its emergence in the face of Open AI’s Chat GPT, and others, working beyond the expectation.

In its forecast the insight CCS said that the AI will have to face a cold shower in 2024 due to the legislation and risk of uncertainty.

A chief analysis of CCS insight Ben Wood told CNBC, “We are big advocates for AI, we think that it’s going to have a huge impact on the economy, we think it’s going to have big impacts on society at large, we think it’s great for productivity,” Wood said.

He added that the current hype of generative AI in the market is immense because many obstacles need to be faced to bring it to the market.

Generative AI models such as Open AI’s Chat GPT, Google Bard, and other forms rely on huge amounts of computing power to run their complex mathematical models, allowing them to work.

The companies embedded high-powered chips to run AI applications or GPUs designed by US semiconductor giants and others such as Amazon, Google, Alibaba, and Meta.

CCS Insight’s analyst also lightened the EU decision to regulate generative AI which according to him, will likely be revised and redrafted multiple times because of the speed of AI advancement.

“Legislation is not finalised until late 2024, leaving the industry to take the initial steps at self-regulation,” Wood predicted.

AI used to produce everything such as song lyrics and singing, photos, and videos which is a growing concern for government officials and the public that its advancement puts the risk of joblessness.

Alongside many governments and the industrial zone in the world are welcoming the AI regulation.

Ben Wood said: “A search engine will soon add the content warnings to alert users the material they are viewing from a certain website that is this AI-generated content made by the person.”

Additionally, as per the predictions, arrests will appear of the people who commit AI-based identity fraud and the first arrest of a person who uses AI for deepfake-like image or video generation and morphs the voice.

“Potential impacts are wide-ranging, including damage to personal and professional relationships, and fraud in banking, insurance and benefits.”