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Although AI has been around since the Nineteen Fifties, it has only recently turn into a household name with the launch of OpenAI’s ChatGPT lower than two years ago. As an investor in OpenAI and xAI, I’m continually asking myself about the ethical implications of this recent technology, how smart it is, and whether it’s the best path forward for humanity. As an experiment, I asked ChatGPT for their opinion on artificial intelligence (AI) systems in today’s society, and here’s what they’d to say:
“As an AI language model, I have no personal opinions or beliefs. However, I can provide an objective analysis of AI systems in society today. AI has brought many benefits to society, such as improved efficiency, accuracy, and decision-making processes. It has also contributed to advances in medical research, transportation, and various other industries. However, implementing AI systems in society today also comes with potential risks, such as job loss, privacy concerns, and the possibility of biased algorithms. Therefore, ensuring that AI is developed ethically and responsibly is crucial to mitigate these risks and ensure that the technology benefits society as a whole. In summary, AI systems have enormous potential to positively impact society, but their implementation must be done with due consideration and ethical responsibility.”
While this response shows that AI is still robotic and objective in its methods of “thinking,” it is also in fact fully aware of the ethical concerns surrounding its use. At this critical moment in history, as we stand on the brink of mass AI adoption, we still cannot determine whether AI can be our savior or our villain. Ultimately, all of it comes down to the applications and responsible management of AI systems.
As an investor, I’m in a unique position to help propel these recent AI firms forward. The past two years have seen a gold rush of AI startups. Many have raised impressive rounds; many have failed, and some have already seen acquisitions. However, the first two I invested in, OpenAI and xAI, are now well-known. The former for their ability to address the challenge of worldwide mass adoption, and the latter for their commitment to building a more ethical system for the AI ecoverse.
When it comes to AI applications, it’s protected to say that humans have at all times sought to create tools that make our lives easier; this is nothing recent. Historically, “mechanical muscles” and outsourcing have transformed manual labor. Now we’re at a point where “mechanical minds” will unleash a cascade of applications across industries. Automation has evolved from greater than just the physical.
One of the major developments pushing the AI adoption frontier forward is Microsoft’s continued investment in OpenAI. This partnership will likely lead to every little thing from optimized Excel spreadsheets to AI-generated PowerPoints and even greater support for email management. Higher-level jobs are now ripe for a revolution, too.
AI will be used in finance in a variety of how. AI algorithms can discover patterns of behavior, equivalent to unusual transactions or identity theft, allowing financial institutions to quickly detect and prevent activities. AI may also analyze market trends and make assumptions about future trends, helping institutions make higher decisions.
While this is just one example of how an industry can be transformed, there are some areas of labor that AI will have less of an impact on. These are industries that operate in asymmetric information—equivalent to early-stage enterprise capital. For AI to be effective, the model must have access to data. Industries whose data is private, disaggregated, and complex cannot train and build insights in the same way as a model based on publicly available information. The strength of AI depends on the value of its underlying data and model, which in turn depends on the quality of the rules established by the humans who create the algorithms.
In terms of governance, we must proceed to maintain an element of skepticism and criticism as AI adoption increases. These tools will proceed to evolve, but they mustn’t be treated as an all-knowing source of truth. Again, this is critical because these systems only know what is in their underlying systems. As humans, investors, and business-minded individuals, we must recognize the power of those systems while recognizing that they have to be continually maintained. While AI uses an ever-evolving algorithm that learns from itself and from experience, we must proceed to adapt the rules and data sources that support these AI systems.
Diversity of thought and perspective is essential for those in power to develop these systems. A system created by biased humans can even be inherently biased. We need to keep human values in check over the systems. In today’s society, where truth seems subjective, belief in these systems will be each incredibly useful and incredibly harmful. We need to refrain from programming systems to tell humans what they need to hear. It is necessary for humans to understand and respect the limitations of AI.
At the same time, just because humanity is able to doing something doesn’t at all times mean it should. We could probably replace most jobs with AI, but should we? Where do we draw the line? How do we ensure fairness and integrity in future systems and platforms? That’s a part of what xAI and OpenAI have committed to, and why I’ve believed in them and supported them from the starting.
AI will undoubtedly transform our lives, but this transformation will only be positive if we proceed to be critical stewards of truth and information. As investors, I encourage everyone to maintain a healthy dose of skepticism when investing in AI-based solutions. Look to the people behind these systems, because their beliefs are the ones that teach and drive the solution.