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Tomorrow marks an important day in the life of every online entrepreneur.

The debut of ChatGPT last November 30th sparked global concerns, with many fearing that AI might soon overshadow human significance or make us mere underlings to advanced, potent technological entities.

The concerns surrounding the launch of ChatGPT were heightened by an open letter signed by Elon Musk, a co-founder of ChatGPT-creator OpenAI, alongside a group of artificial intelligence experts and industry executives. The letter urged for a six-month pause in the development of more powerful AI systems like ChatGPT, reflecting reservations about rapid AI development​​. The signatories, including Musk and several prominent academics, warned AI labs of the potential catastrophic perils on society should the development continue unchecked.

Well, it’s now been a year. The development of AI was not halted – in fact it has continued to grow at an astronomical rate, with hundreds of new AI softwares being introduced and OpenAI subsequently releasing ChatGPT4, Dall-E, and a host of new features such as access to the internet. 2023 has been dubbed as Generative AI’s breakout year due to the explosive growth of generative AI tools. These tools can create new content, like text, images, or videos, based on existing data, pushing the boundaries of creativity and automation.

The year 2023 has witnessed the advent of several AI breakthroughs including Chat GPT-4, advancements in DALL-E, self-driving cars, natural language processing, and the introduction of MidJourney AI which potentially signifies major steps towards enhancing AI’s capabilities and applications in various sectors​.

And then, just like that, even before ChatGPT was a year old, Sam Altman was fired as the CEO of OpenAI by the board for “moving too fast.” Ironically the board was the one that moved too quickly in firing their CEO, who was immediately hired by Microsoft. What is going to happen to AI now? This is going to make for a very interesting 2024 as competitors like Google’s Bard and Anthropic’s Claude push to make a dent on what ChatGPT has accomplished.

The ongoing democratization trend is making AI more accessible to individuals and organizations regardless of their technical expertise. The emergence of no-code and low-code platforms, along with AI-powered apps, is bridging the AI skills gap and enabling a wider range of people to create, test, and deploy AI solutions​.

Steve Forbes of Forbes Magazine stated, “AI will actually be a boon to numerous industries, especially health care. It will, for instance, vastly speed up the creation of new medicines, instead of our being reliant on the highly inefficient, hit­-or-miss approach of the past.”

While I generally agree with Steve on this point, I was watching a docu-series recently about how AI can be used to generate thousands of virus at the same speed that it can create new medicines. AI is already been used in military applications to make decisions about the taking of human lives. For all the good that AI can do, we are clearly not out of the woods yet about AI only benefiting society. Yet, I remain optimistic.

Have jobs already been lost due to AI? Yes. Will more jobs be lost as AI advances? Almost certainly. On the other hand, will AI create more jobs that we can’t even imagine right now? Of course – and it will likely create more jobs than it replaces. Which means of course, that we must continue to learn and adapt if we want to remain relevant in the work force.

As Forbes further stated, “AI is in its infancy. We’re in the same stage with it that we were with PCs and the first cellular phones decades ago.” He went on to say, “The dread that AI will someday create sentient, independent­minded robots or entities with human­like consciousness is overwrought. More than 200 years ago people were fascinated and frightened by electricity. This was the inspiration for Mary Shelley’s classic Frankenstein, in which a scientist using electricity creates a monster. That was science fiction. So are the wild worries about AI.

I find that mindset interesting, because when I was developing computer aided design software, there were very real concerns that we were going to put architects and engineers out of business, or at least cause many of them to lose their jobs. What happened instead was that tens of thousands of new jobs were created! I truly believe that the same will happen with AI.

That is why I created the AI Money Machine Program – so entrepreneurs and business owners like yourself could learn how to benefit from this technology and use it to your advantage. Rather than getting left behind, this is an incredible once in a life time opportunity to make a significant difference, not just in your business, but the larger sphere of those whom you serve.

The rapid advancement of AI in recent years, especially as observed in 2023, sets a precedent for continued growth and innovation in 2024. The year 2024 could witness further innovation in core AI technologies like natural language processing, computer vision, and machine learning algorithms. The launch of more advanced models, akin to the evolution from GPT-3 to GPT-4, may continue, pushing the boundaries of what AI can achieve. The trajectory set in 2023 provides a promising outlook for what might be achieved in the realm of AI in 2024.