The rise in AI usage and interest has undoubtedly skyrocketed since the beginning of the year due to the birth of ChatGPT. It boasts 1.5 billion visitors per month, and the constantly updated software, having now reached GPT-4, only results in a plethora of growing positive sentiments. However, recent events in the Western Hemisphere have shaken the world of AI and caused a range of controversies, worrying speculators and investors. Hence, the question arises: is AI a volatile force needing staunch restriction, or does it just need time to perfect itself?
The co-founder of OpenAI left the company on November 17 abruptly, having lost confidence in the board due to a lack of communication and interaction between himself and his peers. This comes as a surprise, but sudden shocks are enough to stir up massive concerns for stakeholders and investors. By losing confidence in the very firm he founded, regardless of its undoubted success and accumulating a $86 billion valuation and potential not yet uncovered, this may startle investor confidence and sentiment, raising questions and stagnating in attracting new investors.
Additionally, a report from last Thursday uncovered that the promising robotaxi service Cruise, predominant in the US, had encountered a slightly more concerning event regarding their AI endeavour. As the firm aims for a revenue target of $10 billion by 2025, its pursuit of rivalling industry leaders such as Tesla has come at a cost recently as the AI technology embedded in the driverless cars caused the vehicle to collide into a pedestrian and drag them over 2 feet across the road. Not only did this calamity cease all operations at Cruise in its driverless car division, but it has also led the team to completely rethink, re-engineer, and re-invent their product.
It is undeniable that these harrowing events in recent days have caused a tumultuous shift in consumer and investor concern, speculation, and sentiment. However, just when matters seem to be questionable already, their effects could also wash up on our shores. Just last week, the UK’s First Minister for AI and intellectual property, Viscount Jonathan Camrose, stated that regulation on AI would not be tightened yet as it may cause an unwanted slum in industry growth. Hence, it becomes clear that, amid the recent controversial affairs in the industry, the elements of profit, shareholder value, and earnings are a priority over ethical and regulatory priorities.
The resounding question we currently face is whether the concerns we encounter are temporary or are we in for a clatter of future disturbances regarding the murky yet anticipated world of AI. The element of AI dependency, especially in products such as self-driving vehicles, is only going to be long and raucous. Safety cultures and processes will take years to further evolve and mature to become reliable and safe assets for us to utilise, and with the frequent and tight-gripped leash on AI regulations, the pleasure of ChatGPT, AI software, and AI services will be fit for consumption.
From founders leaving their own companies to shock casualties in the face of artificial intelligence failure, if the sector wants to maintain and further grow its industry to become an indispensable industry, it must convince the world of its credibility, reliability, and significance. Until then, the world remains in meticulous presentiment as to what exactly it is capable of.
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