During his “60 Minutes” piece on artificial intelligence (AI) that aired April 16, Scott Pelley 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 opinion on this incredible technology.
In a 2022 AI Impacts survey of 738 million AI researchers, 50% said they believe that there’s a 10% or greater chance that humans go extinct from our inability to control AI. In the same survey, AI researchers were asked their thoughts on how likely it is that in 30 years, AI will be vastly better than humans at all professions — 60% was the median survey answer. There’s a lot to unpack there, and as a human, that is a troubling thing to swallow. With this subject in mind, I consulted a popular AI chat bot to get its insight. I asked how AI could harm humans and society. 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 “Spider-Man” quote goes. Some researchers are comparing AI to be as influential as the invention of fire. So, how can we be responsible with this high intelligence behemoth to foster a healthy relationship between it and mankind?
Fear is OK, 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.
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