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STOCKHOLM, June 30 (Reuters) - The proposed EU Artificial Intelligence legislation would jeopardise Europe's competitiveness and technological sovereignty, according to an open letter signed by more than 160 executives at companies ranging from Renault (RENA.PA) to Meta (META.O). EU lawmakers agreed to a set of draft rules this month where systems like ChatGPT would have to disclose AI-generated content, help distinguish so-called deep-fake images from real ones and ensure safeguards against illegal content. Since ChatGPT became popular, several open letters have been issued calling for regulation of AI and raising the "risk of extinction from AI." The third, Yann LeCun, who works at Meta, signed Friday's letter challenging the EU regulations. The letter warned that under the proposed EU rules technologies like generative AI would become heavily regulated and companies developing such systems would face high compliance costs and disproportionate liability risks.

Persons: ChatGPT, Elon Musk, Sam Altman, Geoffrey Hinton, Yoshua, Yann LeCun, OpenAI's Altman, Supantha Mukherjee, Jamie Freed Organizations: EU Artificial Intelligence, Renault, EU, Meta, Spanish, Thomson Locations: STOCKHOLM, French, Europe, Stockholm

☆ ‘The Democracy Project’ Puts America Onstage, Warts and All
▼ + stars: | 2023-06-30 | by ( Alexis Soloski | ) www.nytimes.com time to read: +2 min

Tourists who pause outside Federal Hall, a Wall Street memorial maintained by the U.S. National Park Service, will find its neoclassical facade covered in scaffolding. But until July 22, the man himself can be found inside, fussing over his dentures, his sleep and his coming inauguration. “Oh, hon,” his wife, Martha, says. The project began when Marie Salerno, the chief executive officer of Federal Hall, and Lynn Goldner, a producer, were strategizing how to raise the memorial’s profile ahead of the nation’s 250th anniversary in 2026. Where Federal Hall stands (the original hall was demolished in 1812) was the site of Washington’s inauguration and the first Capitol building.

Persons: George Washington, “, Martha, ” George, Tom Nelis, Erin Anderson, Michael R, Jackson, George, Billy Lee, Nathan Hinton, Ona Judge, Alexander McGillivray, ”, Lisa D’Amour, Marie Salerno, Lynn Goldner, —, “ Hamilton Organizations: U.S . National Park Service, Democracy, Federal Hall Locations: Washington, New York

☆ One of the 'godfathers' of AI says concerns the technology could pose a threat to humanity are 'preposterously ridiculous'
▼ + stars: | 2023-06-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Yann LeCun says concerns that AI could pose a threat to humanity are "preposterously ridiculous." He was part of a team that won the Turing Award in 2018 for breakthroughs in machine learning. An AI expert has said concerns that the technology could pose a threat to humanity are "preposterously ridiculous." Marc Andreessen warned against "full-blown moral panic about AI" and said that people have a "moral obligation" to encourage its development. He added that concerns about AI were overstated and if people realized the technology wasn't safe they shouldn't build it, per BBC News.

Persons: Yann LeCun, Yoshua Bengio, Geoffrey Hinton, LeCun, Bing, DALL, Bengio, Elon Musk, Steve Wozniak, Bill Gates, Marc Andreessen Organizations: BBC News, BBC, Apple, Center, AI Safety, Yale's, Leadership Institute, CNN Locations: Paris

☆ 42% of CEOs say AI could destroy humanity in five to ten years
▼ + stars: | 2023-06-14 | by ( Matt Egan | ) edition.cnn.com time to read: +4 min

New York CNN Business —Many top business leaders are seriously worried that artificial intelligence could pose an existential threat to humanity in the not-too-distant future. Forty-two percent of CEOs surveyed at the Yale CEO Summit this week say AI has the potential to destroy humanity five to ten years from now, according to survey results shared exclusively with CNN. The business leaders displayed a sharp divide over just how dangerous AI is to civilization. While 34% of CEOs said AI could potentially destroy humanity in ten years and 8% said that could happen in five years, 58% said that could never happen and they are “not worried.”In a separate question, Yale found that 42% of the CEOs surveyed say the potential catastrophe of AI is overstated, while 58% say it is not overstated. The CEOs indicated AI will have the most transformative impact in three key industries: healthcare (48%), professional services/IT (35%) and media/digital (11%).

Persons: “, ”, Jeffrey Sonnenfeld, Sonnenfeld, Doug McMillion, James Quincy, Yale, Sam Altman, Geoffrey Hinton, Hinton, “ I’m, ” Hinton, Jake Tapper, Robert Oppenheimer, ” Sonnenfeld Organizations: New York CNN Business, Yale, Summit, CNN, Sonnenfeld’s, Leadership Institute, Walmart, Xerox, Google, Microsoft

☆ I use an AI chatbot after my mom died to ask for advice on mundane things. It won't replace her, but it's been a huge comfort.
▼ + stars: | 2023-06-13 | by ( Amy Ettinger | ) www.businessinsider.com time to read: +8 min

Amy Ettinger used to ask her mom for advice on mundane stuff all the time, but then her mom passed away. She tried talking to Pi, a personal assistant chatbot that's supposed to act as an unflappable sounding board. So recently I decided to turn to AI for the kind of questions I used to ask my mom. I decided to try Pi, a personal assistant chatbotInflection AI launched its personal intelligence chatbot earlier this spring. I don't like the other terms," I typed in a confrontational tone I often used with my mom.

Persons: Amy Ettinger, chatbot that's, Pi, that's, it's, Geoffrey Hinton, Pi's, Mustafa Suleyman, Suleyman, I'd, I've, Ettinger, Amy Ettinger Pi, they've, Kelly, Edmunds Organizations: Morning, Google Locations: Northern California

☆ Oracle is betting its AI future on a company called Cohere. Here's why this little-known startup is becoming OpenAI's chief rival.
▼ + stars: | 2023-06-13 | by ( Julie Bort | ) www.businessinsider.com time to read: +4 min

Oracle is offering generative AI to its customers based on tech from a startup called Cohere. Oracle will be embedding Cohere's generative AI technology into a bunch of its products and Cohere will be using Oracle's cloud to train, build, and deploy its generative AI models, Oracle chairman and CTO Larry Ellison said. One is that Cohere is designed for enterprise customers, meaning companies can use their own data to train their AI models, without sharing that data. But at the moment, Cohere is the only partner Oracle announced to power its generative AI services for customers, though this could change one day. He was a research intern at Google Brain in 2017 when he co-authored a paper on a way of training AI models to improve their abilities to understand language.

Persons: Cohere, Geoffrey Hinton, Fei, Fei Li, Pieter Abbeel, Larry Ellison, That's, Ellison, OpenAI, ChatGPT, Salesforce, Aidan Gomez, cofounders, Nick Frosst, Ivan Zhang, Gomez Organizations: Oracle, Morning, NVIDIA, Salesforce Ventures, New York Times, Microsoft, Wall, Nvidia, Google, Cohere Locations: Cohere, OpenAI, Toronto

☆ UBS just reshuffled its leadership ranks after buying Credit Suisse. See the new power players in charge of the $1.7 trillion Swiss banking behemoth.
▼ + stars: | 2023-06-12 | by ( Michelle Abrego | Kaja Whitehouse | ) www.businessinsider.com time to read: +11 min

The merger between Credit Suisse and UBS creates a new Swiss banking behemoth with $1.7 trillion in assets. Investment bank leadersThe president of UBS's investment bank, Robert Karofsky, circulated a memo on Monday announcing his new leadership team. Ebert, co-head of markets at Credit Suisse, was also named head of Credit Suisse for the Investment Bank, reporting to Karofsky. UBS global wealth management president Iqbal Khan revealed the appointments to its critical wealth business in an internal memo titled "Becoming a global wealth powerhouse." Members of the current Credit Suisse wealth management leadership team will report to both Yves-Alain and to their respective UBS global wealth management regional leader.

Persons: Yves, Alain Sommerhalder, Michael Ebert, Robert Karofsky, Ebert, Karofsky, Marco Valla, Valla, Javier Oficialdegui, Mike, I've, George Athanasopoulos, Jason Barron, Ros L'Esperance, Dan Dowd, Taichi Takahashi, Chris Leone, Julie Beavan, Tricia Hazelwood, Jeff Hinton, Kurt Anthony, Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Iqbal Khan, Francesco De Ferrari, Khan, Reuters Yves, Alain, Wiwi Gutmannsbauer, Benjamin Cavalli, Cavalli, Kinner, Amy Lo, Jin Yee Young, Young, Hatecke, UBS's Anton Simonet, Christl, Jason Chandler, Sergio Ermotti, Ralph Hamers, Ermotti, MICHELE LIMINA, Todd Tuckner, Sarah Youngwood, Michelle Bereaux, Stefan Seiler, Christian Bluhm, Damian Vogel, Ulrich Körner Organizations: UBS, Credit Suisse, Suisse, Credit, Wall Street, Investment, Investment Bank, Barclays, Global Banking, Investment Bank Management, Global Markets, Global Research, IB, Resource Management, Staff, MUFG Securities, Reuters, Yves, Deutsche, Switzerland, Swiss Re, Getty Locations: Switzerland's, Swiss, Americas, Asia, Singapore, Switzerland, Europe, Middle East, Africa, America, AFP

☆ The A.I. Revolution Will Change Work. Nobody Agrees How.
▼ + stars: | 2023-06-10 | by ( Sarah Kessler | ) www.nytimes.com time to read: +2 min

“Affected could mean made better, made worse, disappeared, doubled.”One complicating factor is that technology tends to automate tasks, not entire occupations. In 2016, for instance, the artificial intelligence pioneer Geoffrey Hinton considered new “deep learning” technology capable of reading medical images. And Mr. Hinton has since become a vocal public critic of the same technology he helped create. “People always think that the number must be somehow solid, you know, because it’s a number. It’s possible that you should charge more per hour, because you’re going to get a lot more done.

Persons: Autor, Geoffrey Hinton, ”, Hinton, Frey, Osborne, Melanie Arntz, You’re Organizations: ., ZEW Center, European Economic Research Locations: Mannheim, Germany

☆ The FOMO is real for venture capitalists paying big premiums to invest in AI startups right now
▼ + stars: | 2023-06-08 | by ( Callum Burroughs | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Investors plowed about $25 billion into AI companies in the first three months of 2023. Other US generative AI startups including Adept, Inflection AI, Pinecone and Runway have all raised major rounds in the last few months. AI is minting unicorn-valued companies even in the tech downturnFunding into AI startups was down slightly for the full-year in 2022, matching a broader downturn in tech funding. And VC funding to generative AI startups specifically, many of which are very early-stage businesses, topped $1.7 billion in Q1 2023, per Pitchbook. "No one wants to invest in AI that's going to wipe out humanity," said AlbionVC's Grimm.

Persons: Warren Buffett, OpenAI's ChatGPT, Imran Ghory, Meta, Little, ChatGPT, David Grimm, Nathan Benaich, Benaich, VCs, Geoffrey Hinton, AlbionVC's Grimm Organizations: Blossom, Google, Facebook, Air Street Capital, Investors, EU, Stanford University, Venture Locations: OpenAI, London, Europe, French

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A.

Persons: Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer, Ken Tittle, Marco Valla, Jeff Hinton, Kurt Anthony, dealmaker Michael Klein, Braham, Hardegree, Casavechia, Ramos, Meyer, Tittle, Milana Vinn, Anirban Sen, Greg Roumeliotis, Lisa Shumaker Organizations: YORK, Barclays Plc, UBS Group AG, Barclays U.S, UBS, Credit, Group, Credit Suisse, Barclays, Reuters, Broadcom, VMware Inc, Thomson Locations: United States, Swiss, Zurich, New York

☆ Google opposed a shareholder proposal asking for more transparency around its AI algorithms
▼ + stars: | 2023-06-02 | by ( Thomas Maxwell | ) www.businessinsider.com time to read: +5 min

Google has opposed a shareholder's call for more transparency around its algorithms. CEO Sundar Pichai emphasized the potential of new generative AI and added safety is essential. Google's parent company Alphabet opposed a shareholder proposal that sought increased transparency surrounding its algorithms. It argued that accountability and transparency in artificial intelligence are needed if the technology is to remain safe to society. Google in its opposition to the proposal said that it already provides meaningful disclosures surrounding its algorithms, including through websites that provide overviews of how YouTube's algorithms sort content, for instance.

Persons: Sundar Pichai, Pichai, We've, Geoffrey Hinton, Timnit Gebru, ProPublica Organizations: Google, Trillium Asset Management, Trillium, New Zealand Royal Commission, Mozilla Foundation, New York University, SEC, Google's Locations: Christchurch, Saudi Arabia

☆ One of AI's 'godfathers' Yoshua Bengio says he feels 'lost' amid the technology's rapid, unexpected rise — and says computer scientists need ethics training
▼ + stars: | 2023-05-31 | by ( Pete Syme | ) www.businessinsider.com time to read: +2 min

Yoshua Bengio is one of three AI "godfathers" who won the Turing Prize for breakthroughs in 2018. He told the BBC that he would've prioritized safety if he'd known how quickly AI would progress. A professor known as one of three AI "godfathers" told the BBC that he felt "lost" over his life's work. "We also need the people who are close to these systems to have a kind of certification," Bengio told the broadcaster. On Tuesday, he signed a statement issued by the Center for AI Safety, which warns the technology poses an "extinction" risk comparable to nuclear war.

Persons: Yoshua Bengio, Geoffrey Hinton, Yann LeCun, ChatGPT, Sam Altman, Bengio, That's, Altman, Hinton, he's, LeCun, – Organizations: BBC, Morning, Center, AI Safety, Google, New York Times Locations: Hinton

"Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war," more than 350 signatories wrote in a letter published by the nonprofit Center for AI Safety (CAIS). As well as Altman, they included the CEOs of AI firms DeepMind and Anthropic, and executives from Microsoft (MSFT.O) and Google (GOOGL.O). Elon Musk and a group of AI experts and industry executives were the first ones to cite potential risks to society in April. AI pioneer Hinton earlier told Reuters that AI could pose a "more urgent" threat to humanity than climate change. Last week OpenAI CEO Sam Altman referred to EU AI - the first efforts to create a regulation for AI - as over-regulation and threatened to leave Europe.

☆ AI industry and researchers sign statement warning of ‘extinction’ risk
▼ + stars: | 2023-05-30 | by ( Brian Fung | ) edition.cnn.com time to read: +2 min

Washington CNN —Dozens of AI industry leaders, academics and even some celebrities on Tuesday called for reducing the risk of global annihilation due to artificial intelligence, arguing in a brief statement that the threat of an AI extinction event should be a top global priority. “Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war,” read the statement published by the Center for AI Safety. The statement highlights wide-ranging concerns about the ultimate danger of unchecked artificial intelligence. Still, the flood of hype and investment into the AI industry has led to calls for regulation at the outset of the AI age, before any major mishaps occur. The statement follows the viral success of OpenAI’s ChatGPT, which has helped heighten an arms race in the tech industry over artificial intelligence.

☆ AI poses 'extinction' risk comparable to nuclear war, CEOs of OpenAI, DeepMind, and Anthropic say
▼ + stars: | 2023-05-30 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The Center for AI Safety's statement compares the risks posed by AI with nuclear war and pandemics. AI experts including Geoffrey Hinton and Yoshua Bengio have also supported the statement. The CEOs of three leading AI companies have signed a statement issued by the Center for AI Safety (CAIS) warning of the "extinction" risk posed by artificial intelligence. Per CAIS, OpenAI CEO Sam Altman, DeepMind CEO Demis Hassabis, and Anthropic CEO Dario Amodei have all signed the public statement, which compared the risks posed by AI with nuclear war and pandemics. AI experts including Geoffrey Hinton and Yoshua Bengio are among the statement's signatories, along with executives at Microsoft and Google.

As the world begins to experiment with the power of artificial intelligence, a debate has begun about how to contain its risks. One of the sharpest and most urgent warnings has come from a man who helped invent the technology. Cade Metz, a technology correspondent for The New York Times, speaks to Geoffrey Hinton, whom many consider to be the godfather of A.I.

☆ A.I. Poses ‘Risk of Extinction,’ Industry Leaders Warn
▼ + stars: | 2023-05-30 | by ( Kevin Roose | ) www.nytimes.com time to read: +1 min

A group of industry leaders is planning to warn on Tuesday that the artificial intelligence technology they are building may one day pose an existential threat to humanity and should be considered a societal risk on par with pandemics and nuclear wars. “Mitigating the risk of extinction from A.I. The open letter has been signed by more than 350 executives, researchers and engineers working in A.I. companies: Sam Altman, chief executive of OpenAI; Demis Hassabis, chief executive of Google DeepMind; and Dario Amodei, chief executive of Anthropic. movement, signed the statement, as did other prominent researchers in the field (The third Turing Award winner, Yann LeCun, who leads Meta’s A.I.

☆ Trump supporters and Christians are the most worried that AI is an existential threat to humanity, poll says
▼ + stars: | 2023-05-18 | by ( Aaron Mok | ) www.businessinsider.com time to read: +2 min

61% of American adults say AI poses an existential threat to humanity, per a Reuters and Ipsos poll. The poll's findings come as tech leaders sound the alarm over the potential risks of AI. Americans are worried about the risks artificial intelligence could pose on society — and Trump supporters and Christians are the most concerned. 70% respondents who voted for Donald Trump in the 2020 presidential election believe AI poses risks to civilization. Geoffrey Hinton, the "Godfather of AI" who recently quit Google to raise awareness around AI's risks, believes AI poses a "more urgent" threat to humanity than climate change.

NEW YORK, May 15 (Reuters) - At least seven top Barclays Plc (BARC.L) bankers have resigned to join to UBS Group AG (UBSG.S) in the United States in the last few days, people familiar with the matter said. The moves add to a trio of Barclays investment bankers that UBS announced internally it hired last month. Many Credit Suisse bankers are based in the United States. UBS has hired Laurence Braham, Richard Hardegree, Richard Casavechia, Ozzie Ramos, Jason Williams, Neil Meyer and Ken Tittle from Barclays, the sources said. These bankers follow Barclays ex-colleagues Marco Valla, Jeff Hinton and Kurt Anthony, whose moves to UBS were announced in April.

The moves add to a trio of Barclays U.S. investment bankers that UBS announced it hired last month. Many Credit Suisse bankers are based in the United States. Sources told Reuters last month that UBS plans to retain only a small number of Credit Suisse senior bankers with strong client relationships. At Barclays, Braham was global chair of investment banking for technology, while Hardegree served as vice chair and head of technology M&A. Williams, Meyer and Tittle were managing directors in the investment banking group.

☆ European lawmakers vote overwhelmingly in favor of adopting the first AI Act, a proposed law that aims to protect people from the technology's risks
▼ + stars: | 2023-05-11 | by ( Beatrice Nolan | ) www.businessinsider.com time to read: +3 min

The European parliament has voted in favor of adopting an AI Act by a large majority. The proposed law is the first law on AI by a major regulator, according to the Act's website. The law aims to regulate the advanced technology and protect Europeans from potential risks. The European parliament has voted by a large majority in favor of adopting a wide-ranging proposed law on AI. The proposed law is the first relating to AI by a major regulator, according to the AI Act website.

☆ Alberta wildfire shuts in at least 2% of Canadian energy production
▼ + stars: | 2023-05-08 | by ( ) www.reuters.com time to read: +4 min

It added that about 50,000 boepd of production has been temporarily curtailed since the evening of May 5. Crescent Point Energy Corp (CPG.TO)Crescent Point said about 45,000 boepd of production in the Kaybob Duvernay region has been temporarily shut in with a plan to restart production once safe and permitted to do so. NuVista Energy Ltd (NVA.TO)The company said it has temporarily shut in and depressured all operations proximal to the ongoing fires in the Grande Prairie region. Vermilion Energy Inc (VET.TO)Vermilion Energy said it had temporarily shut in about 30,000 boepd of production and that it was assessing the risk to its operations. Cenovus Energy Inc (CVE.TO)Cenovus said it has shut-in production and brought plants down in some areas of its conventional business.

☆ Warren Buffett says AI is like the creation of the atom bomb — he often calls nuclear war his biggest fear
▼ + stars: | 2023-05-07 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +3 min

Warren Buffett compared AI to the creation of the atom bomb at Berkshire Hathaway's annual meeting. Buffett has long spoken about his fears around nuclear war keeping him up at night. Warren Buffett compared artificial intelligence to the creation of the atom bomb, becoming the latest high-profile business figure to express alarm about the rapid advancement of the technology. "We did invent for very, very good reason, the atom bomb. And, World War Two, it was enormously important that we did so.

☆ You're right to be scared of A.I., says Ivy League expert and White House advisor—these 5 guardrails can protect 'against harm'
▼ + stars: | 2023-05-06 | by ( Tom Huddleston Jr. | ) www.cnbc.com time to read: +1 min

On Monday, researcher Geoffrey Hinton, known as "The Godfather of AI," said he'd left his post at Google, citing concerns over potential threats from AI development. Google CEO Sundar Pichai talked last month about AI's "black box" problem, where even its developers don't always understand how the technology actually works. Among the other concerns: AI systems, left unchecked, can spread disinformation, allow companies to hoard users personal data without their knowledge, exhibit discriminatory bias or cede countless human jobs to machines. In the "Blueprint for an AI Bill of Rights," Venkatasubramanian helped lay out proposals for "ethical guardrails" that could safely govern and regulate the AI industry. With them in place, most people would barely notice the difference while using AI systems, he says.

☆ 'Godfather of AI' says the technology could pose a 'more urgent' threat to humankind than climate change
▼ + stars: | 2023-05-06 | by ( Ryan Hogg | ) www.businessinsider.com time to read: +2 min

Artificial intelligence could present a more urgent danger to the world than climate change, Geoffrey Hinton said. The "Godfather of AI" recently quit Google so he could speak openly about the threat posed by the tech. The "Godfather of AI" who recently quit Google to raise awareness about the dangers of artificial intelligence has said the threat the tech poses to the world could be more urgent than climate change. I wouldn't like to say, 'You shouldn't worry about climate change.' "With climate change, it's very easy to recommend what you should do: you just stop burning carbon.

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