26 September, Lausanne, Switzerland – Artificial Intelligence outside of human control threatens to destabilize the world without effective international regulation, according to a landmark announcement today.
The Institute of Management Development (IMD) has created an ‘AI Safety Clock’ to measure the threat posed by the technology’s evolution to the world.
Based on the original ‘Doomsday Clock’ that shows how close humanity is to nuclear annihilation, a team of experts at the Institute’s TONOMUS Global Center for Digital and AI Transformation has set the clock at 29 minutes to midnight, highlighting the scale of the issue posed by Artificial General Intelligence (AGI).
IMD developed the AI Safety Clock after completing a wide-ranging analysis of technologies and announcements from over 3,500 companies and governments around the world. The team of technological experts focused on probably risks posed by AGI – artificial intelligence which is not controlled by humans and in effect has its own power.
While technological developments such as new models, chips, job replacement and weaponisation push the clock closer towards midnight, IMD suggest that effective international cooperation and regulation, and government treaties can help to mitigate the potential risks AGI poses. Some of the risks from uncontrolled AGI include:
- The weaponisation of AI that controls conventional, nuclear, biological, or chemical weapons
- Significant manipulation or disruption of financial markets
- Significant manipulation or disruption of critical infrastructures, such as energy, transportation, communication, water, etc.
- Significant manipulation or disruption of biological or environmental ecosystems, social networks, and political systems
- Direct threat to human life
IMD acknowledged progress made in terms of recognising risks and the need to regulate AI in the EU, UK, and in California, but argues that broader international cooperation is vital to preventing catastrophe.
Michael Wade, Director of IMD’s Global Center for Digital Business Transformation, said: “As we set the AI Safety Clock for the first time, the message is that the risk is serious, but it’s not too late to act.
“Uncontrolled AGI can cause havoc for us all, and we are moving from a time of medium risk to one of high risk. But we’re not past the point of no return. Effective, joined-up regulation can constrain the worst tendencies of new technologies without losing their benefits, and we call on international actors and tech giants alike to act in all of our best interests.”
Discover more here: AI Safety Clock.
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About the AI Safety Clock
The AI Safety Clock involves continuous monitoring and assessment of both quantitative and qualitative factors. It employs a proprietary news tracking dashboard to monitor over 1,000 websites and 3,470 news feeds. This dashboard provides up-to-date insights into technological advancements and regulatory changes. Additionally, the project tracks the performance of over 30 foundation AI models across 33 diverse benchmarks and assesses regulatory efforts across key regions. The clock’s position is updated tri-annually or adjusted ad-hoc based on these evaluations.
About the International Institute for Management Development (IMD)
IMD has been a pioneering force in developing leaders and organizations that contribute to a more prosperous, sustainable, and inclusive world for more than 75 years. Led by an expert and diverse faculty, with campuses in Lausanne and Singapore, IMD strives to be the trusted learning partner of choice for ambitious individuals and organizations worldwide. Our executive education and degree programs are consistently ranked among the world’s best. Through our research, programs, and advisory work, we enable business leaders to find new and better solutions, challenging what is and inspiring what could be. To learn more, visit www.imd.org.
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