Stock Analysis & Ideas

Are Fast-Paced AI Developments Dangerous? AI Experts Think So

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Experts believe that generative AI capabilities could do more harm than good if not structured safely. AI experts have urged for a six-month halt in AI developments to formulate policies for AI advancements.

In a letter titled “Pause Giant AI Experiments: An Open Letter,” high-ranking artificial intelligence (AI) experts have pleaded with AI companies to hit temporary brakes on their developments. The rationale is simple: no one knows for sure what the outcome of these highly trained generative AI developments could do in the future. AI experts believe the untimely race that began since the launch of OpenAI’s ChatGPT has led to a boom in AI experiments of dangerous magnitudes.

The letter simply urges AI companies to take a breather and design safety protocols that will be beneficial to the human race in the long run. “Powerful AI systems should be developed only once we are confident that their effects will be positive and their risks will be manageable,” the letter said.

While the pros of generative AI are manifold, the damages that could be caused are unknown and could be plenty too. And so, AI experts believe that a six-month pause should be imposed to frame regulatory policies and procedures for safe advancements of AI technology going forward. A recent study by Goldman Sachs found that generative AI could hit about 300 million jobs globally, a stark reminder of the possible damages from the technology.

Further, the letter also stated that the pause is not meant for all general-purpose AI technologies but only for “the training of AI systems more powerful than GPT-4.” The experts also noted that if the AI companies fail to heed the letter, “governments should step in and institute a moratorium.”

The list of experts that have signed on the dotted line to show their disapproval of the pace of AI developments includes Tesla (NASDAQ:TSLA), Twitter, and SpaceX CEO Elon Musk, Apple (NASDAQ:AAPL) co-founder Steve Wozniak, Pinterest (NYSE:PINS) co-founder Evan Sharp, Getty Images (NYSE:GETY) co-founder Craig Peters, and Yoshua Bengio, Founder and Scientific Director at Mila, to name a few.

Several tech giants are foraying into the generative AI world in full throttle. Tech behemoth Microsoft (MSFT) is investing billions of dollars in OpenAI, while other tech companies like Alphabet (GOOGL) (GOOG), Alibaba (BABA), and Baidu (BIDU) are developing ChatGPT-like technologies to gain an edge in the unending opportunities in the generative AI world. Even chip makers such as Nvidia (NASDAQ:NVDA) and Intel (NASDAQ:INTC) are in the race to build super chips that could be used in AI technology.

The letter may have one of two outcomes. AI firms could decide to stop and formulate new policies as per the AI expert’s request. Alternatively, they might at least think about the potentially disastrous effects that AI technologies might have in the future and take the necessary precautions to prevent them.

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.

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