The Great Responsibility
Scott Pelley in the 60 Minutes piece on Artificial Intelligence, which aired April 16th, said he’d been doing the news his entire career, and this was the first time he was speechless. He watched in awe at AI creating moving poetry. Watching the same piece had me confused, concerned, and intrigued. Inspired by our current AI explosion, I am going to outline my concerns and my ultimate opinion on this incredible technology.
In a 2022 AI Impacts survey of 738 million AI researchers, 50% believe that there’s a 10% or greater chance that humans go extinct from our inability to control AI.^1 In the same survey, AI researchers were asked how likely they think that in 30 years, AI will be vastly better than humans at all professions - the median survey answer was 60%.^2 There’s a lot to unpack there, and as a human, that is a pretty troubling thing to swallow. In spite of the subject, I consulted with a popular AI chat bot to get its insight. I asked it how AI could harm humans and society and it, unfortunately, listed many ways it could do so.
The AI chat bot listed “job displacement” as a major threat to society. As stated in the survey statistic, it may seem as though humans having jobs would be redundant and a thing of the past. That might sound intriguing at first glance, but what would we do for money? How would we be able to support our daily lives? What would human existence even mean? It is frightening to think that our exponential advancement of technology likely has a positive correlation for the chance of having a serious existential dilemma on our hands.
“With great power comes great responsibility” – as the famous quote goes. Some researchers are comparing AI to be as influential as the invention of fire.^3 So, how can we be responsible with this high intelligence behemoth to foster a healthy relationship between it and mankind?
Fear is okay, but adaptation and embracing are what is required because AI isn’t going anywhere. From an investment perspective, AI seems to provide immense opportunity that we should be following today. I don’t claim to be smart enough to be able to answer the above existential threats that AI poses, nor can I create a political framework that regulates this technology, but I know a promising investment when I see one, and artificial intelligence seems to fill that category.
The views stated are not necessarily the opinion of Cetera and should not be construed directly or indirectly as an offer to buy or sell any securities mentioned herein. Due to volatility within the markets mentioned, opinions are subject to change without notice. Information is based on sources believed to be reliable; however, their accuracy or completeness cannot be guaranteed. Past performance does not guarantee future results.
Jason LaBarge, Financial Advisor and President of LaBarge Financial
7 Riggs Avenue, Severna Park, MD 21146 (443) 647-4321
Securities and advisory services offered through Cetera Advisor Networks LLC, member FINRA/SIPC, a broker dealer and a registered investment adviser. Cetera is under separate owner named entity.
AI Impacts. "2022 Expert Survey on Progress in AI." https://aiimpacts.org/2022-expert-survey-on-progress-in-ai/ Accessed om 04/18/2023.
AI Impacts. 2022 "Expert Survey on Progress in AI." https://aiimpacts.org/2022-expert-survey-on-progress-in-ai/ Accessed om 04/18/2023.
Alison Snyder. "Experts say AI isn't quite fire or the wheel - yet." https://www.axios.com/2018/02/07/experts-ai-artificial-intelligence-fire-wheel Accessed on 04/19/2023.