Former Google Exec warns about risks of AI saying they're 'bigger than climate change'

It’s no secret that ever since the AI revolution began with the launch of ChatGPT, every company has ramped up their efforts in the field. However, this unprecedented development has had industry experts and governments worried, as without much oversight or regulation, AI systems could easily go off the rails. Now, in a recent episode of The Diary of a CEO podcast, Mo Gawdat, a former chief business officer at Google X, shared his perspective on the potential risks of AI systems, stating that it poses a greater danger than climate change.

Gawdat further warned that if the current pace of AI development continues, the world could witness significant and widespread changes in the next few years, including massive job cuts and economic impact.

An AI tax?

In the podcast, Gawdat proposed that in order to curb this rapid expansion and development of AI systems, the best solution is to impose a substantial 98% tax on AI-powered businesses. He believes that this tax would not only slow down the uncontrolled growth of AI but also generate funds for people who might lose their jobs to AI in the near future.

However, Gawdat is not alone in this campaign to curb AI development, as his proposal echoes the sentiments expressed in an open letter signed by influential figures in the AI industry, including Elon Musk and Steve Wozniak. The letter, released in March, called for a temporary halt in the development of AI systems like GPT-4 and warned that this race against time to deploy AI could have unprecedented consequences, potentially leading to a loss of control over civilization.

Microsoft and Google rally for regulation

Although Microsoft and Google are currently the leaders in the AI space, both tech giants have acknowledged the need for regulation and proposed the self-regulatory approach, asserting that responsible development and usage are crucial to mitigate risks. They argue that AI tools like the Bing AI chatbot and Google Bard will revolutionize productivity and eliminate mundane tasks rather than replace jobs.