According to metrics from 2017 to 2021, the United States outranks the rest of the world in terms of venture capital funding, the number of startups, and patents granted in AI. Scientists who have immigrated to the U.S. play an outsized role in the country's development of AI technology. Many of them were educated in China, prompting debates about national security concerns amid worsening relations between the two countries.
Experts have framed AI development as a competition for economic and geopolitical advantage between the United States and China. In 2021, an analyst for the Council on Foreign Relations outlined ways that the U.S. could maintain its position amid progress made by China. In 2023, an analyst at the Center for Strategic and International Studies advocated for the U.S. to use its dominance in AI technology to drive its foreign policy instead of relying on trade agreements.
By April 2024, full length original songs generated by a pseudonymous creator named "Glorb" using the voices of cartoon characters from the SpongeBob SquarePants cartoon were being listened to millions of times on Spotify and YouTube. Glorb is not affiliated with the copyright holder or the original voice performers.
Electricity consumed by hardware used for AI has increased demands on power grids, which has led to prolonged use of fossil fuel power plants which would otherwise have been deactivated.
Microsoft, Google, and Amazon have all invested in existing or proposed nuclear power plants to meet these demands. In September 2024, Microsoft signed a deal with Constellation Energy to purchase power from a reactor at Three Mile Island which had been shut down in 2019. The reactor is set to reopen in 2028 to provide power to Microsoft's data centers. The reactor is next to the unit which caused the worst nuclear power accident in US history in 1979.
During the AI boom, different groups emerged, ranging from the ones that want to accelerate AI development as quickly as possible to those that are more concerned about AI safety and would like to "decelerate".
Some economists have been optimistic about the potential of the current wave of AI to boost productivity and economic growth. Notably, Stanford University economist Erik Brynjolfsson, in a series of articles has argued for an "AI-powered Productivity Boom" and a "Coming Productivity Boom". At the same time, others like Northwestern University economist Robert Gordon remain more pessimistic. Brynjolfsson and Gordon have made a formal bet, registered at long bets, about the rate of productivity growth in the 2020s, to be resolved at the end of the decade.
Machine learning resources, hardware or software can be bought and licensed off-the-shelf or as cloud platform services. This enables wide and publicly available uses, spreading AI skills. Over half of businesses consider AI to be a top organizational priority and to be the most crucial technological advancement in many decades.
Across industries, generative AI tools are becoming widely available through the AI boom and are increasingly used in businesses across regions. A main area of use is data analytics. Seen as an incremental change, machine learning improves industry performance. Businesses report AI to be most useful in increased process efficiency, improved decision-making and strengthening of existing services and products. Through adoption, AI has already positively influenced revenue generation in multiple business functions. Businesses have experienced revenue increases of up to 16%, mainly in manufacturing, risk management and research and development.
AI and generative AI investments have been increasing with the boom, increasing from $18 billion in 2014 to $119 billion in 2021. Most notably, the share of generative AI investments was around 30% in 2023. Further, generative AI businesses have seen considerable venture capital investments even though regulatory and economic outlooks remain in question.
Tech giants capture the bulk of the monetary gains from AI and act as major suppliers to or customers of private users and other businesses.
The ability to generate convincing, personalized messages as well as realistic images may facilitate large-scale misinformation, manipulation, and propaganda.
On May 20, 2024, following the release of a demo of updates to OpenAI's ChatGPT Voice Mode feature a week earlier, actor Scarlett Johansson issued a statement in relation to the "Sky" voice shown in the demo, accusing OpenAI of producing it to be very similar to her own, and her portrayal of the artificial intelligence voice assistant Samantha in the film Her (2013), despite Johansson refusing an earlier offer from the company to provide her voice for the system. The agent of the unnamed voice actress who voiced Sky stated that she had recorded her lines in her natural speaking voice and that OpenAI had not mentioned the movie Her nor Johansson.
A large amount of electricity is needed to power generative AI products, making it more difficult for companies to achieve net zero emissions. From 2019 to 2024, Google's greenhouse gas emissions increased by 50%.
The AI boom is said to have started an arms race in which large companies are competing against each other to have the most powerful AI model on the market, with speed and profit prioritized over safety and user protection.
Rapid progress in artificial intelligence has also sparked interest in whether some future AI systems will be sentient or otherwise worthy of moral consideration, and whether they should be granted rights.
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