Techloy Recap: The Stories That Mattered in AI for 2024
From new editing tools to personalized shopping assistants, AI-powered innovations were everywhere this year, transforming industries completely
2024 has been a landmark year for artificial intelligence, with the technology becoming deeply integrated into our daily lives. AI has revolutionized everything from e-commerce to content creation, and it’s clear that it’s no longer just a trend.
According to a PitchBook report, global AI funding surpassed $40 billion this year, proving that AI is reshaping industries and revolutionizing how we interact with technology. From the way we browse the web to how we work, AI has solidified its place at the core of both online and offline tasks.
Let's take a look at some of the most significant highlights of AI in 2024 and what they mean for companies and the tech industry as a whole.
A rebound after a brief dip
In January, the AI sector lost $190 billion in market value after disappointing earnings reports from major companies like Microsoft, Alphabet, and AMD. Last year’s AI-driven stock surge left high expectations, but when quarterly results didn’t meet those hopes, investors sold off. Alphabet dropped 5.6%, Microsoft slid 0.7%, and AMD saw a 6% dip.
It looked like AI might slow down, but the sector quickly rebounded in 2024, with rapid growth and major advancements. OpenAI capitalized on this momentum, releasing back-to-back updates to ChatGPT this year, including GPT-4o, its faster and free iteration of its GPT-4 model and, GPT-4o mini and even its most recent update, GPT-o1, boosting its valuation to $157 billion and solidifying its leadership in AI.
Nvidia also saw massive growth, driven by the high demand for its chips used in AI training, even surpassing Apple's market value multiple times this year. Both companies became key players in AI’s rise.
Content creation became fly
One of the standout releases this year was Adobe’s Firefly 3, which hit the scene in April. Adobe’s generative AI tool quickly became a game-changer for creatives, integrating into software like Photoshop and InDesign. Firefly 3 gave designers more control over their work than ever before. With features like Generate Image, Generate Background, and Generate Similarly, creatives could now generate content faster, more efficiently, and with a level of customization that was previously unthinkable.
What made Firefly 3 even more impressive was its safety focus. Adobe ensured that AI-generated content could be used commercially without the risk of copyright issues. This was a huge move, as it set a new standard for the role AI could play in professional content creation, making AI a core tool for creative professionals around the world.
The evolution of Copilot
In May, Microsoft launched a series of AI updates during its annual Microsoft Build event. From the evolution of Copilot into virtual assistants to real-time video translation in Edge, Microsoft made it clear that it was pushing hard to establish itself as a leader in AI. This year's releases were a big deal because they showed Microsoft’s commitment to making AI an integral part of everyday tools, transforming workflows across industries.
Copilot's evolution, in particular, was a standout. It evolved from a simple assistant into a full-fledged virtual assistant capable of handling tasks like IT support, onboarding, and more. Meanwhile, real-time video translation in Edge was another breakthrough, making global content more accessible and inclusive. Microsoft also introduced AI-powered clipboard management and version control for developers, making their jobs more efficient.
Later in the year, Microsoft introduced "Copilot Agents," customizable AI assistants designed to automate repetitive tasks, handle project management, and provide intelligent support. These updates were a clear sign that Microsoft wasn’t just about software; it was redefining how businesses worked and interacted with technology.
Meanwhile, Google, a major rival to Microsoft, had already made some similar moves earlier in the year during its Google I/O event. At I/O, Google introduced AI Overviews in Search, powered by its Gemini model, which allowed users to ask complex questions and get detailed, multi-step responses. They also launched enhancements in Google Photos to help users search their memories in more personalized ways. Google’s Project Astra, an AI assistant designed to reason and retain memory, was another exciting reveal, showing how the company was positioning itself as a serious competitor to Microsoft in the AI space.
David Adubiina
The largest openly available AI model
Meta raised the notch with the launch of Llama 3.1 405B, "the world’s largest open-source AI model" in July. With a mind-boggling 405 billion parameters, this model could handle everything from complex math problems to multilingual translations, boosting Meta AI's capabilities, and making it a strong contender against other top models like OpenAI's ChatGPT.
But Meta didn’t stop there. It rolled it out in 22 more countries in October, expanding its reach to places like Argentina, Nigeria, and the Philippines. Plus, it added seven languages, including French, Spanish, and Hindi, making it more accessible than ever.
Later, more exciting features rolled out, like “Imagine me”, which lets users generate images of themselves in different scenarios, adding a creative touch to AI interactions. Meta also made Meta AI available on devices like Ray-Ban glasses and Meta Quest, taking AI from just apps to everyday wearables.
Finally, Meta shifted its focus to African languages, partnering with Orange and OpenAI to integrate languages like Wolof and Pulaar into AI systems, breaking language barriers for millions. By the end of 2024, Meta AI had grown into a multilingual, accessible tool shaping the future of AI.
A personal AI shopping assistant
AI reached into another part of daily life when Amazon unveiled its AI Shopping Guide in October. This new tool, which consolidates key product details like brand information, specs, and customer reviews into an easy-to-digest format, aims to make online shopping more efficient. Instead of endlessly scrolling through reviews and product pages, the guide curates the most important information right on the product page.
Initially launched in the U.S., the AI Shopping Guide could be a game-changer for how we shop online, streamlining the decision-making process and saving consumers time. With AI driving this innovation, Amazon continued to refine its e-commerce experience, making it easier for shoppers to make informed decisions and enhancing the overall user experience.
A more intelligent OS unveiled
Apple also made its move in the AI space with the release of iOS 18.1 in October. After months of anticipation, Apple’s AI suite, Apple Intelligence, finally arrived on compatible devices like the iPhone 16, iPhone 15 Pro, and newer iPads and Macs. This suite brought several powerful AI tools to Apple devices, including smarter writing features, email and message summaries, and transcription for Notes and phone calls.
Apple also introduced enhanced photo management through natural language search and the ability to remove objects from images, taking image editing to the next level. Even Siri got a major upgrade, offering a more conversational tone and better contextual understanding. While some features, like deeper Siri integration and Genmojis, were still in the works, the launch of Apple Intelligence marked a major step forward in AI-powered convenience for Apple users.
Kelechi Edeh
The 12 Days of Christmas
Finally, OpenAI wrapped up the year with a bang during its “12 Days of Christmas” event in December. The company introduced several exciting features, including the launch of ChatGPT Pro, a premium subscription plan offering unlimited access to GPT-4, enhanced voice capabilities, and an exclusive version of GPT-4o designed for better performance in complex tasks.
OpenAI also unveiled Canvas, a tool designed to streamline the editing process for both text and code. While tools like Notion AI and GitHub Copilot existed, Canvas stood out by seamlessly handling both types of content. But the most impressive announcement was the introduction of Sora, OpenAI’s text-to-video model. Sora allows users to create high-quality videos, positioning OpenAI as a major player in the rapidly growing space of AI-generated video content.
Conclusion
Looking back, 2024 has been a big year for AI. It started with some setbacks but quickly turned into a year of growth, with significant advancements across the board.
From Adobe Firefly 3 revolutionizing content creation to Microsoft and Google battling it out for dominance with their AI tools, the year has shown how deeply AI is embedding itself in our lives. And with Amazon’s AI shopping assistant and Apple’s new AI-powered features, it's clear that AI is here to stay.
As we head into 2025, there’s no doubt that AI will continue to evolve, pushing boundaries not only in tech but also in how we live, work, and interact with the world around us. The future is now—and AI is leading the charge.
