Artificial intelligence (AI) experts are growing increasingly worried about the dangerous effects of the fast-paced developments of generative AI. An open letter titled “Statement on AI Risk,” signed by over 300 scientists and experts, urges people to mitigate the “risk of extinction” of human existence that is created by AI developments. The letter even claims that some of the most severe risks from AI are similar to those generated by pandemics and nuclear wars.
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Through the letter, experts are trying to draw keen attention to these risks, which should be weighed equally with “other societal-scale risks” and given “global priority.” Some of the notable signatories include OpenAI founder Sam Altman, Kevin Scott, Chief Technology Office of Microsoft (NASDAQ:MSFT), and Alphabet’s (NASDAQ:GOOGL) Google’s DeepMind executives Lila Ibrahim and Marian Rogers.
It’s noteworthy that these companies are the forerunners in AI developments and have dedicated billions of dollars to taking the lead in the race. Even so, they realize the existential threats from such developments and are willing to acknowledge that AI needs to be regulated. The letter aims to open up a healthy dialogue that could address these risks and find a solution to diminish the severity of untold risks as well as reduce dependence on AI.
The recent letter is a follow-up to one that was issued in March 2023, which also signaled similar threats and urged a six-month pause on AI advancements to formulate safer policies. The earlier letter was also signed by the likes of billionaire Elon Musk, and Apple (NASDAQ:AAPL) co-founder Steve Wozniak. Earlier in May, the White House called for a meeting of the chief executives of AI companies Google, OpenAI, and Anthropic, informing them to undertake responsible AI developments as they have the potential to increase the threat to “safety and security, infringe civil rights and privacy, and erode public trust and faith in democracy.”
Dangers of AI Race
Although AI technology has been around for a few years, the launch of OpenAI’s ChatGPT led to a frenzied race by other tech companies to launch similar technology. Research also shows that the growing dependence on AI and robotics could cut hundreds of millions of jobs globally in the coming years. Notably, chip maker Nvidia (NASDAQ:NVDA) reached the trillion-dollar market capitalization club yesterday and became the first company in the sector to reach the milestone. The company launched a supercomputer on May 29 that promised to turn even a common man into a programmer.
ChatGPT Stocks
Below is a list of a few ChatGPT companies that are disrupting the generative AI world with endless possibilities. As seen from the list, Wall Street analysts are mostly bullish on these stocks. Plus, they carry a TipRanks Smart Score of 7 or more, indicating a higher likelihood of outperforming the markets.
