Australia’s largest pension fund plans to reduce its allocation to global stocks due to concerns over artificial intelligence, reflecting a cautious approach to emerging technological risks in investment decisions.
US technology stocks declined following a setback at Oracle's data centre, which has reignited concerns about artificial intelligence development and investment in the sector.
US tech stocks declined sharply due to concerns over the actual profitability of AI investments, with reports and comments from industry leaders fueling fears of an AI bubble, leading to a broad market sell-off especially in high-flying tech stocks like Nvidia and Oracle.
Jon Stewart criticized tech CEOs' promises of using artificial intelligence to solve major issues like climate change and disease, highlighting a video of Meta CEO Mark Zuckerberg using AI to make toast. Stewart expressed concern over AI's potential to replace jobs, citing clips of tech leaders admitting to using AI to "get the same work done with fewer people." He called the promise of AI a "bait and switch" and warned of its potential impact on employment.
Tyler Perry has halted his planned $800 million studio expansion in Atlanta due to concerns over the impact of artificial intelligence, specifically citing OpenAI's text-to-video tool Sora as the reason for the stoppage. While Perry acknowledges the potential of AI to assist in filmmaking, he fears the potential job losses in the industry and hopes that the value of human workers isn't lost in the shuffle. This decision comes as Perry expands his deal with Netflix, adding a multi-year, first-look series pact to the previous feature film pact.
Hollywood actors, represented by the Screen Actors Guild (SAG), have joined a strike alongside screenwriters, resulting in the industry's largest shutdown in over 60 years. The strike, which involves approximately 160,000 performers, aims to secure fairer profit sharing and improved working conditions from streaming giants. Additionally, the SAG seeks to protect actors from being replaced by digital replicas and artificial intelligence (AI). The strike prevents actors from appearing in films or promoting their existing movies. The big studios have offered a proposal to address AI concerns, but the union rejected it. Picketing will take place outside the headquarters of Netflix, Paramount, Warner Bros, and Disney. The strike will impact film and TV productions, potentially leading to rescheduled or scaled-back events such as the Emmys and Comic-Con.
Geoffrey Hinton, a deep learning pioneer, has raised concerns about the rapid advancements in artificial intelligence and how they will affect humans. Hinton is worried about the increasingly powerful machines’ ability to outperform humans in ways that are not in the best interest of humanity, and the likely inability to limit AI development. His concern with this burgeoning power centers around the alignment problem — how to ensure that AI is doing what humans want it to do.