Entrepreneur and venture capitalist Marc Andreessen is among the many people speaking out about the opportunities and risks of artificial intelligence and the growth of ChatGPT. The comments from Andreessen come as valuations have risen for artificial intelligence stocks.
What Happened: Fresh off his report called “Why AI will save the world,” Andreessen shared more details on the opportunities for artificial intelligence during a recent podcast appearance.
Andreessen argued that AI could save the world, a bold claim that includes looking at the religion of sorts of the AI movement.
“I wouldn’t say save the world in a utopian way, but in a practical way,” Andreessen said during a live keynote that was turned into an episode of the Bio Eats World podcast.
Andreessen said that there could be a moral obligation to harness the powers of artificial intelligence for good.
The paper from the investor comes as regulators are working to put forth new rules on the use of artificial intelligence.
Andreessen noted that regulatory interventions typically face backlash, but in this instance, their involvement is being received positively.
Related Link: Marc Andreessen Takes A Dig At Elon Musk Led AI Camp
Will AI Steal Jobs?: One of the biggest question marks around artificial intelligence is the panic that it will steal everyone’s jobs.
Andreessen said this fear is nothing new as for hundreds of years people have worried about machines replacing human labor including the mechanical loom to make wool, the invention of electricity and the introduction of computers.
More recently, several perceived threats to employment have caused widespread concerns. “We’ve been through two panics like this in the last 20 years,” Andreessen said.
Andreessen said people were worried about the outsourcing of jobs to India and China, and more recently about robots taking jobs.
“It’s fundamentally misunderstanding of the nature of productivity growth in the economy.”
Andreessen argues that the growth of AI can replace some human labor and increase productivity with less input and more output.
This could lead to prices falling, which acts as the equivalent of giving everyone a raise and having more spending power, leading to demand for goods and services.
“That new demand leads to the creation of new categories.”
More jobs and jobs at higher wages could be the result of artificial intelligence growth, Andreessen argues.
“It’s a process of change, and people get freaked out about change.”
Andreessen said that a world that allowed all of this change to happen would see productivity rise at 10% to 20% a year, and the “consumer cornucopia would be staggering.”
“Prices would collapse.”
Andreessen said it’s possible that this happens, but likely at a much smaller scale.
What’s Next for AI: Andreessen pointed out that a portion of what he explained falls under illegal practices, as numerous industries have regulations prohibiting the complete overhaul of their processes solely through technology. Some sectors aren’t ready to see artificial intelligence replace human labor.
“There’s no robot lawyer,” Andreessen said.
Industries like healthcare and drug discovery could also be slower to adapt to artificial intelligence, given the potential risks of death.
Andreessen said that while there will certainly be winners in the realm of AI, it is also logical to strive toward making AI accessible to all.
“The way that every industrialist has increased their self interest is making it available to everyone.”
Andreessen used the example of Elon Musk’s master plan for Tesla published on his website which outlined his plan of first selling a super expensive car to a few rich people, then selling a car to the middle class at a cheaper price point, and ultimately selling a cheap car to everyone.
“Industrialists try to drive down the cost to increase their income.”
Andreessen uses companies like Coca-Cola and Apple as examples that sell their products at the same cost to everyone, and the product is the same no matter who is buying.
“Whoever owns the machine is going to make the most money.”
Risks of AI: While the opportunity for artificial intelligence is massive, Andreessen also points to the many risks involved.
One risk is bad people doing bad things. Andreessen highlighted instances of people using others’ voices to mimic and steal money or commit fraud, something that has happened even before the growth of AI.
“There’s a lot of fraud today in the world that doesn’t rely on AI,” Andreessen said.
The venture capitalist argues that we should use the same technology to defend against these use cases, creating items similar to SPAM filters, and having sectors like banks use AI to build better defense systems.
Another risk for artificial intelligence is the Chinese Communist Party, according to Andreessen.
“The other dark matter in the conversation always is China,” Andreessen said.
The investor said China is using artificial intelligence for authoritarian control, and it remains a big risk.
“We’re not the only player.”
Read Next: Gary Vee Warns AI And ChatGPT Could Take Jobs, Why He Thinks That's Okay
Photo: FORTUNE Global Forum on flickr
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