Politicians and tech leaders for the first Artificial intelligence summit which sought to build a framework to mitigate risks of AI while maximising its potential .

This week, a significant artificial intelligence (AI) summit was held in the UK, bringing together tech professionals and political leaders to talk about the possible dangers as well as the benefits of this quickly developing field of technology.

Nations all across the world are attempting to set some guidelines and stay ahead of the curve as AI develops.

A peek into the future of AI governance can be seen in the significant statements and actions that emerged from the conference. Let's dissect the important points.

This week, a significant artificial intelligence (AI) summit was held in the UK, bringing together tech professionals and political leaders to talk about the possible dangers as well as the benefits of this quickly developing field of technology. Nations all across the world are attempting to set some guidelines and stay ahead of the curve as AI develops. A peek into the future of AI governance can be seen in the significant statements and actions that emerged from the conference.

The Bletchley Declaration

One of the main objectives of the conference was to create international guidelines and cooperation regarding AI security.

This resulted in the new Bletchley Declaration being signed by 28 nations, including powerful nations like the US, UK, and China.

The proclamation outlines objectives for increased scientific cooperation on comprehending the hazards associated with AI as well as increased transparency from AI developers about safety procedures.

The fact that the world's AI leaders have come together to manage the risks that artificial intelligence poses to daily life due to "misuse or unintended issues of control relating to alignment with human intent" is being heralded as a historic accomplishment.

Although the specifics are a little hazy, it's considered a significant first step in the creation of global norms and mitigation techniques.

Kamala Harris calls out threats to rights and democracy

US Vice President Kamala Harris stated in a speech that disadvantaged people are already being impacted by the existing evils caused by AI, which include discrimination, disinformation, and democratic problems. She declared that the Biden administration will take action to address the regulatory issues and societal hazards associated with AI.

Harris emphasized that we must confront the risks posed by AI that are currently hurting marginalized populations and democratic institutions, in addition to existential threats. Her comments suggested that the US government would prioritize consumer protections and AI ethics.

Elon Musk warns of AI’s existential dangers

Elon Musk, the CEO of SpaceX and Tesla, has spoken openly his concerns about AI being uncontrollable by humans. At the conference, he reaffirmed his worries, calling advanced AI "one of the biggest threats to humanity" because of its potential to surpass human intelligence.

In other words, although we are neither faster or stronger than other creatures, we are intellectual. And now, for the first time in human history, we have something that will be far smarter than any of us.

He acknowledged that humanity might not be able to govern such an entity, even if he expects to properly direct AI's progress. Despite this, "we can strive to steer it in a direction that's advantageous to humanity."

DeepMind co-founder says current models don’t present significant harms

Mustafa Suleyman, co-founder of DeepMind, the UK-based AI startup that Google acquired and become its main AI division, hinted at the AI summit that a short-term pause in AI development would be required soon. In the next five years or so, he told journalists, this subject will need to be handled very seriously.

He did, however, also reassure that there was little danger associated with the state-of-the-art AI models, such ChatGPT. "There is no evidence today that state-of-the-art models like GPT-4 cause any significant or disastrous harms,"

UK invests in new AI supercomputer

The UK government revealed a significant £225 million investment in Isambard-AI, a potent new supercomputer.

Its construction at the University of Bristol aims to make significant advances in a number of areas, including energy, healthcare, and climate modeling.

These systems, together with another supercomputer named Dawn, are a part of the UK's goal to lead in AI while working with allies like the US. Next summer, these computers will be connected to the internet.

Global AI dominance up for grabs

It's obvious that a high-stakes arms race in technology is underway when you consider that major powers like the US, EU, and China are also fighting for supremacy in AI. While cooperation and safety were the main topics of discussion at the UK summit, each region wants to set its own AI regulations and standards in order to further its own political and economic objectives.

On October 30, President Joe Biden issued an executive order on artificial intelligence (AI), stating, "America will lead the way during this period of technological change," despite the EU's rapid writing of AI rules. Furthermore, China has revealed its own plans to influence the development of AI. However, perhaps these competing powers might join together to create frameworks like the Bletchley Declaration in order to stop unbridled AI from getting out of control.