The rapidly evolving AI sector “could go wrong” in a number of ways, according to Sam Altman, chief executive officer of the artificial intelligence company OpenAI Inc. The benefits still outweigh the disadvantages, he insisted, because “we work with dangerous technology that could be used in dangerous ways very frequently.”

At the Bloomberg Technology Summit in San Francisco, Altman addressed the rising anxiety regarding the quick development of AI in a live on-stage interview. In recent months, Altman has also actively pushed for more stringent AI legislation, often discussing the issue with international leaders from all levels of government.

Despite the potential downsides of what he called a “exponential technological revolution,” Altman mentioned a number of domains where AI may be beneficial, including medicine, science, and education.

He said, “I think it would be great to eradicate poverty. We’ll need to manage the risk, though, in order to get there.

OpenAI is one of the most highly valued venture-backed AI companies, with a valuation of over US$27 billion (RM126.27 billion). When asked if money would come his way from OpenAI’s success, Altman replied, “I have enough money,” while adding that his goals were not materialistic. He added that it’s in our nature to want to give and work on “something that matters,” but acknowledged that the idea of having enough money is “not something that is easy to get across to other people.”

This represents humanity’s most significant technological advance to yet, according to Altman. And that worries me a great deal.

Elon Musk, who worked with Altman to build OpenAI, has now denounced the organisation and its potential for mischief. Altman added that Musk’s criticism was “coming from a good place” and that he “really cares about AI safety a lot.” Altman mocked the situation when questioned about the potential “cage match” between Musk and fellow billionaire Mark Zuckerberg by joking, “I would go watch if he and Zuck actually did that.”

Audiences have been astounded by the chatbot ChatGPT and picture generator Dall-E, both created by OpenAI. Additionally, they have helped fuel a multibillion dollar frenzy among business owners and investors vying to lay the foundation for a new technology era.

Businesses can use OpenAI’s APIs to create their own software that makes use of its AI models to generate revenue. The company also provides access to ChatGPT Plus, a premium version of its chatbot. OpenAI withholds information on total sales.

Microsoft Corp. has reportedly invested a total of US$13 billion (RM60.79 billion) in the company, according to people with knowledge of the matter. The majority of the funds will go to paying Microsoft back for allowing OpenAI to train and run its models on the Azure cloud network.

Governments and authorities have attempted to erect barriers to the development of the rapidly expanding AI industry as a result of its speed and strength. President Joe Biden met with many artificial intelligence specialists this week in San Francisco, including Altman. The CEO has been speaking on artificial intelligence while on the road, including in Washington, where he warned US senators that “if this technology goes wrong, it can go quite wrong.”

Major AI firms have agreed to taking part in a free, open examination of their systems, including Microsoft and Alphabet Inc.’s Google. But the US also wants to push for larger regulatory changes. The Commerce Department stated earlier this year that it was examining regulations that would call for certification checks on AI models before they are made public.

Last month, Altman and more than 350 other business executives, professors, and other thought leaders signed a brief statement that said, “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks, such as pandemics and nuclear war.”

Despite grave predictions from industry titans, some AI researchers contend that the technology isn’t far enough along to warrant concerns that it would exterminate humans. Additionally, they contend that focusing on doomsday scenarios is just a means of avoiding issues like algorithmic unfairness, racism, and the threat of widespread misinformation.

OpenAI’s ChatGPT and Dall-E, both of which were released last year, have inspired startups to integrate AI into a wide range of industries, including financial services, consumer products, health care, and entertainment. Mandeep Singh, a researcher for Bloomberg Intelligence, estimates that by 2032, the generative AI market might grow by 42% to reach US$1.3 trillion (RM6 trillion). using Bloomberg

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