EU Lawmakers Call for Summit to Control ‘Very Powerful’ AI

A smartphone with a displayed ChatGPT logo is placed on a computer motherboard in this illustration taken February 23, 2023. (Reuters)
A smartphone with a displayed ChatGPT logo is placed on a computer motherboard in this illustration taken February 23, 2023. (Reuters)
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EU Lawmakers Call for Summit to Control ‘Very Powerful’ AI

A smartphone with a displayed ChatGPT logo is placed on a computer motherboard in this illustration taken February 23, 2023. (Reuters)
A smartphone with a displayed ChatGPT logo is placed on a computer motherboard in this illustration taken February 23, 2023. (Reuters)

EU lawmakers urged world leaders on Monday to hold a summit to find ways to control the development of advanced artificial intelligence (AI) systems such as ChatGPT, saying they were developing faster than expected.

The 12 MEPs, all working on EU legislation on the technology, called on US President Joe Biden and European Commission President Ursula von der Leyen to convene the meeting, and said AI firms should be more responsible.

The statement came weeks after Twitter owner Elon Musk and more than 1,000 technology figures demanded a six-month pause in the development of systems more powerful than Microsoft-backed OpenAI's latest iteration of ChatGPT, which can mimic humans and create text and images based on prompts.

That open letter, published in March by the Future of Life Institute (FLI), had warned that AI could spread misinformation at an unprecedented rate, and that machines could "outnumber, outsmart, obsolete and replace" humans, if left unchecked.

The MEPS said they disagreed with some of the FLI message's "more alarmist statements".

"We are nevertheless in agreement with the letter's core message: with the rapid evolution of powerful AI, we see the need for significant political action," they added.

The letter urged democratic and "non-democratic" countries to reflect on potential systems of governance, and to exercise restraint in their pursuit of very powerful AI.

A spokesperson for von der Leyen did not immediately respond to a request for comment.

Last week China's cyberspace regulator unveiled draft measures for managing generative AI services, saying it wants firms to submit security assessments to authorities before they launch their offerings to the public.

The Biden administration has also been seeking public comments on potential accountability measures for AI systems as questions loom about their impact on national security and education.

The European Commission proposed the draft rules for an AI Act nearly two years ago under which AI tools are expected to be classified according to their perceived level of risk, from low to unacceptable.

A parliamentary committee is debating the 108-page bill and hoping to reach a common position by April 26, according to two sources familiar with the matter.



Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
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Intel Shares Fall as Dour Forecasts Overshadow CEO’s Turnaround Promises

The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)
The Intel logo is seen near computer motherboard in this illustration taken January 8, 2024. (Reuters)

Intel's shares fell more than 8% on Friday as the company's weak revenue and profit forecasts overshadowed new CEO Lip-Bu Tan's strategy to revitalize the embattled chipmaker.

Years of bad decisions have left the struggling American chipmaking icon trailing in the lucrative artificial intelligence industry, while a raging Sino-US trade war casts doubt on near-term demand for its PC processors.

Tan on Thursday gave glimpses of his plans to reanimate Intel's culture of innovation by focusing on core engineering, stripping away unnecessary administrative work and cutting workforce.

"Intel is so huge that shifting its course is like turning a battleship – it cannot be done on a dime," Evercore ISI analysts said.

Tan did not provide much detail on how he will restore Intel's leadership position in manufacturing, nor on his plans to attract more external customers to the company's foundry, J.P.Morgan analysts said.

Tan remains focused on the contract manufacturing business and has recently met rival TSMC'S CEO to discuss how the two companies could collaborate.

Executives said first-quarter sales were boosted by customers stockpiling chips as growing tariff tensions between the US and China have made buyers wary of future purchases.

Intel could also stand to benefit if China introduces certain exemptions on US imports given the company's large presence in the Asian country, Ben Barringer, global technology analyst at Quilter Cheviot, said.

AI STRATEGY IN QUESTION

Tan's comments about sharpening Intel's existing products to best suit emerging AI trends have sparked questions on how the company plans to get ahead in the booming artificial intelligence sector and challenge market leader Nvidia.

"Intel needs to streamline fast – they have a lot of investments to make to catch up in AI," Stifel analyst Ruben Roy said.

Historically, Intel has relied on buying startups to further its AI ambitions. Other than Mobileye which Intel spun out a few years ago, the other deals didn't help the company gain much traction.

"Intel should have always had its own internal solution, but it missed the boat and tried to acquire its way into AI," Anshel Sag, principal analyst at Moor Insights & Strategy, said.

One of Intel's biggest missteps was failing to capitalize on the booming demand for AI chips, allowing Nvidia to dominate the market.

Intel now faces an uphill battle in challenging AI heavyweights as it lacks the same level of GPU intellectual property, which is essential for AI workloads, Barringer added.

The company's stock has gained 7.2% so far this year, outperforming Nvidia and Advanced Micro Devices, which have fallen nearly 20% each.

Intel, however, trades at a higher 12-month forward price-to-earnings ratio of 31.37 versus 22.70 for Nvidia and 19.24 for AMD.