During a panel on harnessing generative AI at a World Economic Forum event on Wednesday, Microsoft’s chief economist Michael Schwarz warned that people should be more concerned about “bad actors” using AI to interfere in elections than about AI productivity surpassing human productivity. Schwarz added that AI could cause significant harm in the hands of spammers and those who seek to manipulate elections.
In 2019, Microsoft invested $1 billion in OpenAI, well before integrating OpenAI’s large language model GPT into its Bing search product. In January of this year, Microsoft announced a new multiyear, multibillion-dollar investment in the company. OpenAI depends on Microsoft to provide the necessary computing power to support its products, and analysts at Wells Fargo suggest that this relationship could generate up to $30 billion in additional annual revenue for Microsoft.
Schwarz acknowledged the potential risks of AI, but also pointed out that all new technologies, including cars, carried some degree of risk when they first became available. He stated that if AI makes us more productive, it should ultimately benefit humanity by enabling us to produce more goods and services.
The release of OpenAI’s ChatGPT prompted a surge of investment in the AI industry, with Google responding by launching a competing chatbot called Bard. However, the launch was met with internal concerns about potential issues. Meanwhile, politicians and regulators have expressed increasing apprehension about the potential impact of AI technology.
The White House confirmed to CNBC on Tuesday that Vice President Kamala Harris is scheduled to meet with executives from Anthropic, Google, Microsoft, and OpenAI on Thursday to discuss responsible AI development. Meanwhile, Lina Khan, the chair of the Federal Trade Commission (FTC), wrote an op-ed in the New York Times on Wednesday, emphasizing the need for regulators to be watchful in enforcing regulations related to AI.
