OPINION: As the billionaire warned recently that artificial intelligence had a wide range of outcomes for humanity, investors must consider the difference between risk and uncertainty.
As artificial intelligence stocks surged on Wall Street in June technology evangelist and billionaire Elon Musk warned a Paris conference that “advanced AI is a risk to the public” with uncertain consequences.
However, AI and investors’ wild enthusiasm for anything linked to it may prove a modern parable for what the economist John Maynard Keynes said was the difference between risk and uncertainty. Whereas European settlers had no concept of black swans when they arrived in Australia hundreds of years ago.If we accept AI brings uncertainty in the sense of a true black swan that we have no prior knowledge of, its development brings serious political, anthropological, philosophical, ethical, and moral questions for society.
It asked whether any AI technologies should face a snap ban in 2023 and commissioned a Rapid Response Information Report on the risks posed by the technology.
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