An introduction to Multimodal AI (MMAI), explaining its roots in both academia and the private sector. We outline the difference between text-based AI models, like ChatGPT, and Multimodal AI, and explore the core concept of MMAI - convergence. We discuss the challenges of Multimodal AI, including the need for diverse datasets, computational power, and addressing data privacy concerns. Despite the obstacles, we anticipate transformative breakthroughs in 2024, with MMAI making significant strides in various domains, such as healthcare, ed-tech, and entertainment.