AI industry seeing investment boom with concerns about shift towards profit-driven models, power concentration

From Business Today: 2024-06-21 05:50:34

The AI industry is experiencing a significant investment boom, but concerns arise as companies like OpenAI shift towards more commercial models. Expert Toby Walsh notes the rapid growth of AI companies, highlighting the financial incentives at play.

Walsh warns of the concentration of power in the hands of a few major tech giants due to the immense resources required for AI development.

OpenAI’s evolution towards a more closed model with Microsoft’s influence raises concerns about reduced transparency, ethical blind spots, and worsening inequality.

Amidst these challenges, Walsh advocates for government regulation and ethical guidelines to ensure AI benefits society as a whole, stressing the need for a balanced approach to harness AI’s potential while mitigating risks. The future of AI depends on how it is regulated and used for good.



Read more at Business Today: From open to closed: AI expert dives into whether OpenAI’s pursuit of profit a threat to AI’s future