AI industry thriving amid higher costs, regulatory push and public anger

The Stanford Institute for Human-Centered Artificial Intelligence (HAI) has released its 2024 annual AI Index Report. The report, now in its seventh year, highlights the thriving artificial intelligence (AI) industry currently facing increasing costs, regulations, and public concerns. The report, which is 502 pages long, is a collaboration between academia and industry and includes new estimates on AI training costs, detailed analysis of the responsible AI landscape, and a new chapter on AI's impact on science and medicine. The report aims to provide unbiased, rigorously vetted data for policymakers, researchers, executives, journalists, and the general public to develop a more nuanced understanding of AI's complex field. The AI Index is globally recognised as one of the most authoritative sources of data and insights on artificial intelligence. The report includes 10 key takeaways: 

• AI beats humans on some tasks, but not on all
• Industry continues to dominate frontier AI research
• Frontier models get way more expensive
• The US leads China, the EU, and the UK as the leading source of top AI models
• Robust and standardised evaluations for LLM responsibility are seriously lacking
• Generative AI investment skyrockets
• The data is in: AI makes workers more productive and leads to higher-quality work
• Scientific progress accelerates even further, thanks to AI
• The number of AI regulations in the United States sharply increases
• People across the globe are more cognizant of AI’s potential impact—and more nervous