As we progress further into 2023, the rapid development of Artificial Intelligence (AI), especially post the celebrated launch of OpenAI’s ChatGPT, continues to dominate headlines and ignite debates. However, amidst the excitement, cautionary voices surface regarding the dominance of a few key players in this burgeoning field.
San Francisco-based OpenAI’s release of the poem-generating ChatGPT was well-timed, arriving when US tech giants were cutting back on personnel, and startups grappled with a lack of funding due to the cryptocurrency crash. Even though the AI capabilities of ChatGPT were met with apprehension, and some suggested halting its development, the tech world broadly hailed its arrival as a beacon of hope amidst a gloomy 2022.
The topic of AI’s future was hotly debated at the recent three-day Collision conference in Toronto. Attendees acknowledged the potential of AI, but some expressed concern over its trajectory and impact. Adam Selipsky, the chief of Amazon-owned AWS, a leading cloud company, compared the current state of AI to a 10K race, where the competitors’ destination, the course, and the observers are all critical factors to consider.
Microsoft, OpenAI’s primary backer, caught the world off guard by heavily investing in the AI race, triggering an AI arms race, which saw Google and other tech companies intensifying their AI offerings.
While Jordan Jacobs of Radical Ventures agrees that AI might be overhyped in the short term, he emphasizes its long-term potential. Unlike previous tech advancements, such as personal computers and smartphones, AI systems continuously improve once deployed, creating a disadvantage for latecomers.
However, AWS’ Selipsky and others warned against trusting a single company, especially when dealing with technology that feeds heavily on data and computing power. This apprehension has led hundreds of companies and governments to prohibit their employees from using ChatGPT, fearing data leaks that might strengthen OpenAI’s large language model.
Booking.com, however, announced a new product at the Collision conference that employs OpenAI’s ChatGPT, offering a conversational experience to users. The company’s CTO, Rob Francis, insists this is just the beginning.
Even with all the hype surrounding AI, startup investments continue to be approached with caution. Despite ChatGPT grabbing global attention, Vincent Harrison of PitchBook warns that the startup landscape is far from recovered, comparing the current IPO environment to the aftermath of the global financial crisis.
This news story is based on an article from malaymail.com.
