Emerging AI: January and February 2024 Roundup

by Doug McCord
February 28, 2024
AI Emerging - PTechPartners

On Thursday, February 22nd, Nvidia shattered a Wall Street record by adding $277 billion in value in just a single day. This gain alone would make Nvidia the 37th largest company on the S&P 500 (ahead of Coca-Cola), the 16.4% stock jump coming after the company reported nearly a full year’s worth of earnings in a single quarter.  

Nvidia’s meteoric rise to the top of the charts is an indicator of how much the tech industry has changed over the last few months alone and the crucial part AI has to play in this change. Which is why, starting today, we’re launching a new bi-monthly edition of the PTP Report called AI Roundup, where we report on all the major AI-related events that take place over a two month period. We hope to keep you informed and entertained on all the significant AI news and trends, and give you the insights you need to make better decisions on your journey of digital transformation.

[For our 2023 AI roundup, check out this PTP article.] 

As we come to the end of February, we see the AI financial surge of 2023 continues into 2024, with little signs of letting up. In our first AI roundup we’re looking at Wall Street, multimodality, data defenses, AI lawsuits and regulation, Davos talks, monthly fees and massive power needs, Nvidia and the chip-making race, delivery hardware innovations, and rampant scams— covering intriguing developments in the constantly-changing world of AI. 

Since AI’s now ubiquitous, let’s begin with a few updated usage statistics and a look at the continuing stock market impacts. 

A Look at Usage in 2024 

OpenAI says 100 million people use ChatGPT every week, while their website (openai.com) gets 1.5 billion visits a month.  

It’s probably no surprise that, like many emerging technologies, AI adoption is happening fastest among younger demographics, per Salesforce: