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Google Deepmind CEO says AI industry is full of ‘hype’ and ‘deception’

Sir Demis Hassabis, CEO of Google’s artificial intelligence unit Deepmind, noted that industry hype sometimes obscures real progress.

Sir Demis co-founded Deepmind in 2010 and has years of experience in artificial intelligence, long before machine learning tools became mainstream. More and more people have access to AI tools in their lives, but the rapidly evolving nature of something can really lead to confusion about what will happen in the future.

In an interview with the Financial Times, Sir Demis compared the explosion of artificial intelligence to the cryptocurrency craze of the past few years, highlighting the billions of dollars invested in generative AI startups and products ” This brings with it a flurry of hype and investment.” Maybe some deception.”

“Some of this has now spilled over into artificial intelligence, which I think is a little unfortunate. The impact it’s had on science and research is staggering,” the CEO continued. “In a sense, AI is not hyped enough, but in a sense it’s overhyped. We’re talking about all kinds of things that aren’t true.”

Artificial Intelligence Investment Boom

Much of this craze can be traced to the launch of OpenAI’s ChatGPT tool in November 2022, bringing AI-driven chat into the mainstream for the first time. Other startups are racing to release similar or competing tools, backed by a massive $42.5 billion in funding raised by venture capital groups in 2,500 rounds of equity funding for AI startups in 2023.

Major tech companies such as Microsoft, Alphabet and Nvidia have also risen to the challenge, each bringing their own AI innovations, as well as Google’s push with Deepmind.

Whether underestimated or overhyped, ordinary people’s understanding of artificial intelligence does seem somewhat limited. There is still much to discover about the future possibilities of artificial intelligence, something Sir Demis himself is looking forward to.

“I think we’ve only scratched the surface of what I believe is possible over the next decade or so,” Sir James said. “Perhaps we are at the beginning of a new golden age of scientific discovery, a new Renaissance.”

Featured Image: Ideographies

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