Alluxio Founder and CEO Reveals Top Data Predictions for 2024
SAN MATEO, Calif., Feb. 06, 2024 (GLOBE NEWSWIRE) -- Alluxio’s Founder and CEO Haoyuan (H.Y.) Li forecasts major developments in Artificial Intelligence (AI), cloud, data and analytics, devops and storage in 2024. Data strategies will continue to require solutions that enable enterprises to manage complex data across diverse sources, optimize performance, scale in hybrid/multi-cloud environments, and operate efficiently. Haoyuan Li outlines the following major trends that guide his predictions:
Moving GenAI from Pilots to Production - GenAI is influencing organizations' investment decisions. While early GenAI pilots show promise, most organizations remain cautious about full production deployment due to limited hands-on experience and rapid evolution. In 2023, most organizations are on small and targeted trials to assess benefits and risks carefully. As GenAI technologies mature and become more democratized through pre-trained models, cloud computing, and open-source tools, budget allocations will shift more heavily toward GenAI in 2024.
Balancing In-House and Vendor-Provided LLMs - To leverage the power of LLMs, organizations need to decide between building their own models, utilizing a closed-source model like GPT4 via APIs, or fine-tuning a pre-trained open-source LLM. In 2024, as LLMs keep iterating, organizations would not want to be “locked in” to one model or one vendor. They will likely adopt a hybrid approach, balancing the use of pre-trained models with developing in-house custom models when there are tighter privacy, IP ownership, and security requirements.
Green AI - In 2024, more organizations will recognize the pressing sustainability challenges posed by AI projects as adoption accelerates. Technological advancemens like optimized data architectures, reduced data copies, and renewable energy tapping will help. However, technology alone is not enough. Organizations will also need to implement governance processes and human-centered values that ensure AI projects drive business value without negatively impacting the environment. Organizations that proactively embrace green AI principles in 2024 will gain a competitive advantage and build public trust.
Data & Analytics
Hybrid and Multi-cloud Acceleration
Alluxio, a leading provider of the high performance data platform for analytics and AI, accelerates time-to-value of data and AI initiatives and maximizes infrastructure ROI. Uniquely positioned at the intersection of compute and storage systems, Alluxio has a universal view of workloads on the data platform across stages of a data pipeline. This enables Alluxio to provide high performance data access regardless of where the data resides, simplify data engineering, optimize GPU utilization, and reduce cloud and storage costs. With Alluxio, organizations can achieve magnitudes faster model training and serving without the need for specialized storage, and build AI infrastructure on existing data lakes. Backed by leading investors, Alluxio powers technology, internet, financial services, and telecom companies, including 9 out of the top 10 internet companies globally. To learn more, visit www.alluxio.io.