Sir Demis Hassabis, head of Google DeepMind, has warned that part of the investment in the artificial intelligence (AI) sector is increasingly behaving ‘like a bubble’ and becoming detached from real commercial potential. Multi-billion dollar investments in new startups with no product or technology are unsustainable and may lead to market corrections.
But according to Hassabis, big tech companies like Google will be able to weather this potential blow, as they have the opportunity to boost productivity by adding AI to their robust businesses and products. He referred to AI as ‘perhaps the most transformative technology in history’.
Hassabis also said that Western countries are still ahead of China in AI development, although China is making rapid progress in short-term practical applications. The risks and pitfalls of AI also came up in discussions at Davos, Switzerland. Hassabis emphasized that safe and responsible AI development and the positive use of AI in science and medicine are essential to building public trust.
In addition, Hasabis said, Google’s AI technology can be helpful in popularizing devices like smart glasses in the future. However, he denied the rumors of becoming the top executive of Google, saying that he prefers to be close to research and science.
