"Trillions of dollars rest on the answer. The figures are staggering: an estimated $2.9tn (2.2tn) being spent on datacentres, the central nervous systems of AI tools; the more than $4tn stock market capitalisation of Nvidia, the company that makes the chips powering cutting-edge AI systems; and the $100m signing-on bonuses offered by Mark Zuckerberg's Meta to top engineers at OpenAI, the company behind ChatGPT."
"These sky-high numbers are all propped up by investors who expect a return on their trillions. AGI, a theoretical state of AI where systems gain human levels of intelligence across an array of tasks and are able to replace humans in white-collar jobs such as accountancy and law, is a keystone of this financial promise. It offers the prospect of computer systems carrying out profitable work without the associated cost of human labour"
Trillions of dollars are invested in AI infrastructure, including datacentres, specialised chips and elite engineering talent. Major firms and investors expect AGI—machine intelligence matching human levels across diverse tasks—to deliver sustained, highly profitable automation of white-collar work. The financial case for those investments rests on AGI enabling computer systems to perform profitable labor without human wage costs. Failure to reach advanced AI capabilities could trigger sharp market corrections in technology stocks, destabilise debt tied to datacentre financing, and slow GDP growth in interconnected economies. The scale of spending and market capitalisation leaves broad portions of global wealth exposed to AGI progress.
Read at www.theguardian.com
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