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Artificial intelligence (AI) risks putting millions of people out of work and even triggering a war, unless proper action is taken to regulate the technology, Elon Musk has warned.
In a question and answer session at the National Governors Association meeting in Rhode Island over the weekend, the CEO of Tesla (TSLA) and SpaceX discussed numerous emerging technologies, including solar energy, space travel and self-driving cars. One of the most striking remarks he made was something we've heard from him earlier. Musk famously believes that AI-powered machines capable of carrying out tasks normally reserved for humans represent the “biggest risk” to civilization. (See also: End Times: Ways Elon Musk Believes the World Could End)
Musk, who previously launched a non-profit research group called OpenAI to nurture the safe development of AI, pleaded with governors to set up a regulatory agency to manage the technology’s progress, warning that a failure to do so could rip societies apart. (See also: Artificial Intelligence Will Add $15.7 Trillion to the Global Economy: PwC.)
“I have access to the very most cutting edge AI, and I think people should be really concerned about it,” Musk said. “AI’s a rare case where we need to be proactive in regulation, instead of reactive. Because by the time we are reactive with AI regulation, it’s too late.”
Musk also used the occasion to ask governors to ease back on state franchise dealership laws. Under current regulations, some states are forced to sell cars through independent dealers, meaning that Tesla is unable to follow its preferred method of selling electric vehicles directly to consumers. (See also: Tesla Fights to Sell Directly to America's Wealthiest.)
Other interesting revelations that surfaced during the speech included an admission from Musk that Tesla might shelve its solar roof option on the Model 3, mainly because the roof is not big and flexible enough to take full advantage of sunlight. He also confirmed that two or three new gigafactories will be built in the U.S. (See also: What We Learned From Tesla’s Shareholder Meeting.)
During the speech, Musk was also questioned about the 48 percent surge in Tesla’s stock over the past 12 months. The fact that the company’s valuation surpassed Ford (F) and GM (GM) at various times this year, despite selling much less vehicles, has become a talking point among investors.
Musk admitted that shares of Tesla trade “higher than we have any right to deserve,” adding that expectations can sometimes get out of control. He then went on to affirm his commitment to making the company a success, pointing out his status as the biggest shareholder with a 20 percent stake. The tech guru added that he would only sell his shares to pay for taxes.
Read more: Elon Musk Talks AI Concerns, Tesla's Stock Price With Governors | Investopedia http://www.investopedia.com/news/elon-musk-talks-ai-concerns-teslas-stock-price-governors/#ixzz4n69Kl9wr
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