The H.264/AVC video coding standard introduces some improved tools in order to increase compression efficiency. Moreover, the multi-view extension of H.264/AVC, called H.264/MVC, adopts many of them. Among the new features, variable block-size motion estimation is one which contributes to high coding efficiency. Furthermore, it defines a different prediction structure that includes hierarchical bidirectional pictures, outperforming traditional Group of Pictures patterns in both scenarios: single-view and multi-view. However, these video coding techniques have high computational complexity. Several techniques have been proposed in the literature over the last few years which are aimed at accelerating the inter prediction process, but there are no works focusing on bidirectional prediction or hierarchical prediction. In this article, with the emergence of many-core processors or accelerators, a step forward is taken towards an implementation of an H.264/AVC and H.264/MVC inter prediction algorithm on a graphics processing unit. The results show a negligible rate distortion drop with a time reduction of up to 98% for the complete H.264/AVC encoder.