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Tech January 18, 2024

2024 Davos: Future AI depends on energy breakthrough, cautious regulations

At the World Economic Forum’s annual meeting in Davos, OpenAI’s CEO Sam Altman emphasized the need for an energy breakthrough to support the future development of artificial intelligence (AI), which is expected to consume more power than anticipated. Altman highlighted the importance of climate-friendly energy sources like nuclear fusion, cheaper solar power, and storage to meet the energy demands of advanced AI systems. Altman has invested in a private nuclear fusion company, Helion Energy, which has secured a deal to provide energy to Microsoft.

On the regulatory front, London Stock Exchange Group CEO David Schwimmer cautioned against premature regulations for AI in financial services. While acknowledging the importance of safeguards to ensure accurate and reliable data, Schwimmer stressed the need to identify AI opportunities before implementing regulatory restrictions. Schwimmer also discussed the potential transformative impact of generative AI in the financial sector, urging a collaborative partnership between industry participants and regulators.

In Australia, the government announced plans to establish an advisory body to address the risks associated with AI. The government aims to collaborate with industry bodies to introduce voluntary guidelines, including encouraging technology companies to label and watermark content generated by AI. Science and Industry Minister Ed Husic highlighted the economic growth potential of AI but acknowledged the existing trust issues surrounding the technology. The Australian government plans to release a full response to its AI consultation later this year.

Source – CGTN

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