Summit Host South Korea Says World Must Cooperate on AI Technology

 South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
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Summit Host South Korea Says World Must Cooperate on AI Technology

 South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)
South Korea's Minister of Science and ICT, Lee Jong-ho, speaks during a press briefing following the ministers' session of AI Seoul Summit in Seoul, South Korea, Wednesday, May 22, 2024. (AP)

South Korea's science and information technology minister said on Wednesday the world must cooperate to ensure the successful development of AI, as a global summit on the rapidly evolving technology hosted by his country wrapped up.

The AI summit in Seoul, which is being co-hosted with Britain, discussed concerns such as job security, copyright and inequality on Wednesday, after 16 tech companies signed a voluntary agreement to develop AI safely a day earlier.

A separate pledge was signed on Wednesday by 14 companies including Alphabet's Google, Microsoft, OpenAI and six Korean companies to use methods such as watermarking to help identify AI-generated content, as well as ensure job creation and help for socially vulnerable groups.

"Cooperation is not an option, it is a necessity," Lee Jong-Ho, South Korea's Minister of Science and ICT (information and communication technologies), said in an interview with Reuters.

"The Seoul summit has further shaped AI safety talks and added discussions about innovation and inclusivity," Lee said, adding he expects discussions at the next summit to include more collaboration on AI safety institutes.

The first global AI summit was held in Britain in November, and the next in-person gathering is due to take place in France, likely in 2025.

Ministers and officials from multiple countries discussed on Wednesday cooperation between state-backed AI safety institutes to help regulate the technology.

AI experts welcomed the steps made so far to start regulating the technology, though some said rules needed to be enforced.

"We need to move past voluntary... the people affected should be setting the rules via governments," said Francine Bennett, Director at the AI-focused Ada Lovelace Institute.

AI services should be proven to meet obligatory safety standards before hitting the market, so companies equate safety with profit and stave off any potential public backlash from unexpected harm, said Max Tegmark, President of Future of Life Institute, an organization vocal about AI systems' risks.

South Korean science minister Lee said that laws tended to lag behind the speed of advancement in technologies like AI.

"But for safe use by the public, there needs to be flexible laws and regulations in place."



Microsoft Deal Signals Booming Demand from Data Centers to Power AI

General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
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Microsoft Deal Signals Booming Demand from Data Centers to Power AI

General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo
General view of Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016. REUTERS/Charles Platiau/File Photo

US utilities are finally signing concrete supply deals with data-center operators as the artificial-intelligence wave sparks a surge in power demand, paving the way for higher profits in the coming quarters.

Data centers are expected to account for 8% of the power generated in the US by 2030, compared with 3% in 2022, according to a Goldman Sachs report in May.

Here are some deals announced by utilities in 2024, according to Reuters.

Constellation Energy signed an exclusive deal with Microsoft to restart one of the units at the Three Mile Island nuclear plant in Pennsylvania.

Under the agreement, the utility will provide 835 megawatts (MW) of energy to the tech giant's data centers. The deal would also mark the first ever restart of a nuclear power plant in the US after it was shut down.

Ameren signed a supply deal with a data center with a power capacity of 250 megawatt (MW). It has also received expansion commitments and executed new contracts for more 85 MW of additional load for smaller data centers and other industries across Missouri and Illinois.

Alliant Energy said it has executed multiple power supply deals with data centers, but did not disclose details.

Exelon said it is in the engineering phase for more than 5 GW of data center capacity. Some data-center customers have also made deposits for ComEd - Exelon's subsidiary - to order transmission and breakers, the firm said during a post-earnings call.

American Electric Power signed letters of intent to power an additional 15 GW of data centers by the end of the decade.

Xcel Energy will supply power to Meta Platforms' data center in Minnesota, expected to come online in late summer 2025.

Entergy has received legislative approval for investment in transmission and generation to serve Amazon's upcoming Amazon Web Services (AWS) facility in Mississippi. Pinnacle West Capital has more than 4,000 MW of committed data center customers, not including the backlog of more than 10,000 data center requests it has received.

AES signed an agreement with Google for 310 megawatts to support its Ohio data centers.

It further expanded a previously announced partnership with Google and signed a 15-year power purchase agreement for 727 megawatts in Texas. Talen Energy announced a deal to supply electricity and its 960-megawatt data center campus to Amazon's AWS in Pennsylvania.

NextEra's renewables segment saw a rise of 3 gigawatts (GW) worth of renewables and storage projects in second quarter, including Google's 860 megawatts (MW) demand for its data center power.