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How decentralization can mitigate ‘dystopic’ artificial intelligence risks: SingularityNET exec

Janet Adams, the COO of SingularityNET, said that AGIs falling into the hands of military could pose existential threats to humanity.

While the development of artificial general intelligence (AGI) comes with a truckload of benefits, it also comes with massive risks if the technology falls into the wrong hands. However, decentralization using blockchain technology might help prevent a catastrophe, according to Janet Adams, the chief operating officer of the artificial intelligence and Web3-focused project SingularityNET.

At the Future Blockchain Summit event in Dubai, Cointelegraph sat down with Adams to learn about the risks of centralization when it comes to AGI and how decentralization holds the key to mitigating these risks.

Cointelegraph's Ezra Reguerra with SingularityNET's Janet Adams at the Future Blockchain Summit in Dubai. Source: Ana Solana

While AGI is still a conceptual version of AI that allows a machine to learn and think like a human being, its development will create a massive shift in the world. However, the machine would need to have a consciousness and become self-aware to be able to perform a broader range of tasks.

According to Adams, the “dystopic future” that many imagine when it comes to AGI could potentially happen if the technology is monopolized by Big Tech companies, the military or the government. The executive believes that Big Tech will use the technology “for the profit of the few” and will not allow for a significant shift in the inequalities of today.

Furthermore, Adams highlighted that if AI becomes developed exclusively by the military, the risks could be “existential for humanity,” implying that humans might use the technology for war. On the other hand, if the technology becomes developed by a single government, the executive believes that this could lead to them having unprecedented power.

To prevent these risks, the SingularityNET COO believes that it is important to decentralize the development of artificial general intelligence using blockchain technology. Adams explained that:

“Blockchain is the fabric of decentralization. It can be used to enable AI to AI financial transactions on-chain, and it can be used to ensure that we’ve got broad access to the widest developer base around the world for open-source AI development.”

Adams noted that decentralization would allow AGIs to be used for the benefit of everyone and not just be monopolized by a few organizations. 

Related: Coinbase CEO warns against AI regulation, calls for decentralization

Despite these views, Adams also recognizes that it's impossible to fully predict how an AGI is going to behave once it's invented because it's going to be smarter than humans. However, the executive hopes that AGIs would view humanity as their ancestors. She explained:

“Our view is that a decentralized governance and ensuring that all of our technologies, ever that we ever develop, have a positive impact on the planet, positive impact on humanity, and that we build examples of love and kindness and compassion into our AGIs.”

Adams also added that their hope is that when AGIs are born, they would “look to us as their ancestors.”

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BlackRock CEO Larry Fink Says Bitcoin and Crypto Will Play a Role in Investors’ Flight to Quality

BlackRock CEO Larry Fink Says Bitcoin and Crypto Will Play a Role in Investors’ Flight to Quality

BlackRock chief executive Larry Fink believes that Bitcoin (BTC) and the rest of the crypto markets are now ready to serve as safe-haven assets amid worsening geopolitical conditions. In a new Fox Business interview, Fink says that Bitcoin’s rally earlier this week is an indication that investors are seeing BTC as a mature asset that […]

The post BlackRock CEO Larry Fink Says Bitcoin and Crypto Will Play a Role in Investors’ Flight to Quality appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?

Pension funds could use AI to cut costs, increase returns, says report

Artificial intelligence is touted to provide a number of benefits to the management of pension funds, according to research from Mercer.

Artificial intelligence could be used by pension funds to cut costs, increase investment returns and highlight possible risks, but there are still “significant challenges to overcome” with its use, says the Mercer CFA Institute global pension report.

On Oct. 17, the annual joint report from the consulting firm and investment professional association marked AI as useful for helping pension fund managers trawl through mass amounts of data that could highlight opportunities and build custom investment portfolios.

“AI will affect the operations of pension systems around the world,” lead author and Mercer senior partner Dr. David Knox wrote. “It has the potential to greatly improve the member experience as well as members’ retirement outcomes.”

Natural language AI tools could also be used by pension funds to analyze their members — scraping data from emails and calls so the fund can personalize its marketing and outreach efforts based on how each individual communicates.

AI-assisted analysis is touted to identify patterns and discover market sentiment and signals to suggest unconventional future investment opportunities.

“This can lead to improved asset allocation and/or better diversification, resulting in higher long term returns and lower volatility.”

AI could also help investors take stock of environmental, social, and governance (ESG) considerations. The technology is also expected to enable automation of middle and back office environments, lowering costs that can narrow differentials between passive and active investment strategies.

A summary of the use of AI in investment management. Source: Mercer CFA Institute Global Pension Index 2023

AI is also expected to enable the prediction of member behaviour in response to a variety of possible economic and political circumstances that can impact cash flows of a pension fund.

“For example, a stock market crash can lead to members switching to defensive asset classes, whereas a newly elected government may lead to some retirees withdrawing their accrued benefits.”

However, AI tools can generate fake or misleading information and uncertainty around AI use is likely to remain as models are “unlikely to be able to predict market prices with accuracy.”

The report also highlighted the need for “strong defenses against cyberattacks, scammers and other security breaches”

Related: Dev platform Stack Overflow axes 28% of staff as AI competition grows

The author outlines that AI is already being leveraged in investment markets to make decisions based on the analysis of data, reports, risks and market trends. The advent of programmable trading has been in use since the 1980s, with high-frequency trading changing the way in which investments are managed.

Algorithmic trading is reported to contribute to a significant amount of automated trading, contributing up to 73% of United States equity trading in 2018 alone.

Additional reporting by Jesse Coghlan.

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Berkshire Hathaway’s Charlie Munger Slams Bitcoin, Says Most Crypto Investments ‘Going to Zero’: Report

Berkshire Hathaway’s Charlie Munger Slams Bitcoin, Says Most Crypto Investments ‘Going to Zero’: Report

Investing veteran Charlie Munger of Berkshire Hathaway is reportedly saying most digital assets – including Bitcoin (BTC) – will ultimately go to zero. Speaking at Zoom’s Zoomtopia conference, Fortune reports that the 99-year-old vice chairman of Warren Buffett’s empire says that investing in crypto is stupid. “Don’t get me started on Bitcoins – that was […]

The post Berkshire Hathaway’s Charlie Munger Slams Bitcoin, Says Most Crypto Investments ‘Going to Zero’: Report appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?

Arthur Hayes Says AI and Historic Money Printing Will Create ‘Most Epic’ Bull Market for Crypto

Arthur Hayes Says AI and Historic Money Printing Will Create ‘Most Epic’ Bull Market for Crypto

BitMEX co-founder Arthur Hayes says two key catalysts will spark an “epic” bull market for the digital assets industry. In a new interview with Crypto Banter, Hayes says that the commercialization of artificial intelligence (AI) and historic money printing by the Federal Reserve will lead to a massive bull run for crypto assets. “So I […]

The post Arthur Hayes Says AI and Historic Money Printing Will Create ‘Most Epic’ Bull Market for Crypto appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?

This Decentralized Data Storage Altcoin Could Explode by Over 1,700% As AI Economy Booms: Arthur Hayes

This Decentralized Data Storage Altcoin Could Explode by Over 1,700% As AI Economy Booms: Arthur Hayes

BitMEX co-founder Arthur Hayes is expressing bullish sentiment on a decentralized data storage crypto project on the grounds that demand for censorship-resistant artificial intelligence (AI) infrastructure is bound to grow. Hayes says in a new blog post that AI technology “craves decentralization” for the two things that it requires – compute power and cloud storage. […]

The post This Decentralized Data Storage Altcoin Could Explode by Over 1,700% As AI Economy Booms: Arthur Hayes appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?

Former Facebook Executive and Diem Co-Creator Identifies New AI Opportunities Within Bitcoin Ecosystem

Former Facebook Executive and Diem Co-Creator Identifies New AI Opportunities Within Bitcoin Ecosystem

The co-creator of Facebook’s cryptocurrency project Diem thinks the future of real-time payments will have utility in multiple sectors across the world. David Marcus is the co-founder and CEO of Lightspark, a startup that aims to build Bitcoin (BTC)-based enterprise payment solutions for the Lightning Network. Marcus says in a new interview with Anthony Pompliano […]

The post Former Facebook Executive and Diem Co-Creator Identifies New AI Opportunities Within Bitcoin Ecosystem appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?

Weak competition in AI race could hurt consumers: UK watchdog

The UK's Competition and Markets Authority wants to prevent AI from being used to undermine consumer trust.

There is a “real risk” that the artificial intelligence industry could develop in a way that could end up with only a few firms dominating the market, while consumers are bombarded with harmful information, according to the United Kingdom's competition watchdog. 

In a report published Sept. 18, the Competition and Markets Authority looked into AI Foundation Models, concluding that while AI has the potential to change how people live and work, “these changes may happen quickly and have a significant impact on competition and consumers.”

The competition regulator cautioned that in the short term, if competition is weak, or developers fail to heed consumer protection law, consumers may be exposed to significant levels of false information or AI-enabled fraud.

In the long term, there’s a chance that a handful of firms could end up gaining or entrenching positions of market power, which could lead them to not offer the best products or services, or charge high prices, it said.

“It is essential that these outcomes do not arise,” said the CMA, with CEO Sarah Cardell adding: 

“There remains a real risk that the use of AI develops in a way that undermines consumer trust or is dominated by a few players who exert market power that prevents the full benefits being felt across the economy.”

To remedy this, the watchdog proposed several “guiding principles” to ensure “consumer protection and healthy competition while allowing full economic benefits.”

These guiding principles appear to focus on increasing access and transparency — particularly when it comes to preventing firms from gaining advantages by using AI models.

CMA principles on AI development. Source: gov.uk

The U.K. competition regulator said it will publish an update on the principles and their adoption in early 2024, along with an insight into further developments in the AI ecosystem. It has engaged with AI developers and businesses deploying the technology already, it said. 

Related: 5 AI trends to look forward to in 2023 and beyond

It is not the first time the U.K. has cautioned over rapid advances in AI. In June, the British prime minister’s AI task force adviser, Matt Clifford, said the technology would need regulation and control within the next two years to curb major existential risks.

Also in June, Japan’s privacy watchdog warned ChatGPT’s parent company OpenAI about its data collection methods.

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Solana DEX volume hits record high: Is SOL price headed to $300?

Elon Musk, Mark Zuckerberg and Sam Altman talk AI regs in Washington

The majority of the tech leaders in attendance agreed that AI needs to be regulated with Elon Musk calling the meeting a game changer for civilization.

The top executives from some of the world’s largest tech and web companies have concluded a closed-door meeting with U.S. lawmakers in Washington D.C., where they reportedly discussed AI technology and potential approaches to regulation.

The Sept.13 Senate 'AI Insight Forum' was organized by Senate Majority Leader Chuck Schumer, and attended by 22 tech titans including X (Twitter) owner Elon Musk, Google’s Sundar Pichai, Meta CEO Mark Zuckerberg, Sam Altman from OpenAI and Microsoft founder Bill Gates, according to the New York Times.

Musk reportedly warned about existential risks from AI exclaiming “If someone takes us out as a civilization, all bets are off,” before adding:

“If you have exceptionally smart A.I., the Communist Party will no longer be in charge of China.”

Speaking to CNBC after the event, he said it is essential to have a “referee” for AI, implying that it needs to be regulated. Musk added that the meeting “may go down in history as being very important for the future of civilization.”

When questioned about AI regulation, he said almost everyone in the room agreed that it needs to happen.

Google CEO Sundar Pichai reportedly said AI could help solve big problems, adding that the government needs to balance the “innovation side and building the right safeguards.”

“Over time, AI will be the biggest technological shift we see in our lifetimes. It's bigger than the shift from desktop computing to mobile, and it may be bigger than the internet itself.”

Meta's Mark Zuckerberg advocated for open-source AI, stating: “Open source democratizes access to these tools, and that helps level the playing field and foster innovation for people and businesses.”

Meta and Microsoft recently teamed up to launch Llama 2, an open-source large language model from Meta that will feature on Microsoft’s Windows and cloud computing platform Azure.

Microsoft's Bill Gates raised concerns about security risks, advocating for the government and private sector to work together to minimize them.

Meanwhile, Sam Altman, CEO of OpenAI, the firm that created ChatGPT that arguably kicked off the AI frenzy in late 2022 called the meeting an unprecedented moment, adding:

“I think this will be a tool that will empower humanity to a degree that we can't even imagine,”

During the meeting, Altman said he believed policymakers want “to do the right thing” and was impressed with the speed by which the government wanted to create rules around the technology. 

Related: Cathie Wood bullish on Bitcoin and AI convergence

The White House is expected to release an AI executive order this year while Congress is also considering AI legislation.

The closed-door forum was the first in a series but Senator Chuck Schumer said future meetings will likely be public.

“This is the most difficult issue that Congress is facing because AI is so complex and technical,” said Mr. Schumer.

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Solana DEX volume hits record high: Is SOL price headed to $300?

ARK Invest’s Cathie Wood Says Bitcoin and Artificial Intelligence About To Witness Explosive Growth – Here’s Why

ARK Invest’s Cathie Wood Says Bitcoin and Artificial Intelligence About To Witness Explosive Growth – Here’s Why

ARK Invest CEO Cathie Wood believes that the convergence between Bitcoin (BTC) and artificial intelligence (AI) will lead to a meteoric rise in the adoption of both technologies. In a new ARK Invest video update, Wood says she’s looking at the adoption S-curves of Bitcoin and AI. The S-curve is a mathematical graphic that shows […]

The post ARK Invest’s Cathie Wood Says Bitcoin and Artificial Intelligence About To Witness Explosive Growth – Here’s Why appeared first on The Daily Hodl.

Solana DEX volume hits record high: Is SOL price headed to $300?