The hype and fervor around artificial intelligence (AI) has never been higher. After the launch of the revolutionary content-generating platform ChatGPT by OpenAI, numerous tech behemoths, such as Google and Alibaba, have followed suit, bringing the investments in AI to an all-time high.
The expanding use of algorithms instead of humans to create texts, codes, music, videos and photos raises a lot of questions about the extent to which AI could lead to job loss globally and endanger the control of humans over technology. Tesla’s CEO Elon Musk had previously warned against the risks of AI, but his company still plans to launch its own alternative to ChatGPT.
Businesses and organizations have quickly understood the potential of generative AI, which is why its adoption rate is skyrocketing. Generative AI has become easy to incorporate into existing tools, like Microsoft Office, making it attractive to those looking to benefit from AI without significant upfront investments.
The widespread use of generative AI is already reflected in the global investment figures, as research by Deutsche Bank showed. The total global corporate investment into AI increased by 150% since 2019 and nearly 30 times since 2013. Moreover, the number of public AI projects reached an impressive 350 000 by the end of 2020, accompanied by 140 000 patents filed for AI technology in 2021.
Many startups do not need to create AI technology from scratch, but instead, focus on adapting the current generative AI platforms for specialist tasks such as cancer treatment and smart financing. The US still has a lot to offer when it comes to AI, but China isn’t far behind, now responsible for 18% of all high-impact AI projects.
In spite of the extensive development of AI, experts are growing concerned about the unbridled growth of the technology and the application of AI by authoritarian governments. The US, being relatively lukewarm to developing regulations for AI, could ultimately face a massive hurtle due to lobbying from the tech sector.
European countries are laying the groundwork for their own AI regulations, with an AI Act due to enter into force this year. However, the launch of ChatGPT has sent EU policymakers back to the drawing board. Investors in Europe, being generally more conservative, don’t encourage startups to the same extent as their American or Asian counterparts do.
OpenAI is the R&D laboratory that recently released the groundbreaking artificial intelligence technology ChatGPT. Founded in 2015, OpenAI is backed by a variety of notable investors, including Elon Musk and Peter Thiel. Prior to ChatGPT, OpenAI was most renowned for their application of cutting-edge research projects, ranging from robotics to language algorithms.
Elon Musk is well-known around the world for being an innovator and future-thinker. However, his remarks regarding the dangers of AI were often met with controversy. He has also made significant investments in AI, as his own company Tesla offers an alternative to ChatGPT. He is an advocate of filling the artificial intelligence gap between the East and the West.
