AI Frontier | Davos AI Economic Forum

Hi, AI Futurists!

^{Another AI-eventful week is coming to an end. The biggest event, the Davos World Economic Forum, didn’t pay much attention to Climate Change, the upcoming 41 global elections, or wars, but rather the highlight became the AI future.}

The reason is clear. As Jeff Bezos once created a metaphor between the internet and electricity, AI will have a similar effect, but for our cognitive skills.

Let’s dive into Davos and more.

• Davos Became the AI Forum. Highlights from the Most Influential AI People

• AI Impact on Energy Consumption. Data Centers to Double in Capacity by 2030

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If Davos had an IQ test during this past week, it would be close to AGI. Apart from that, most of the global GDP was there.

There are mainly two reasons why AI became the focal point. AI will affect all aspects of our lives and secondly, maybe more importantly, AI means new money. The global competition and free market started. The opportunity is there with so many unknowns.

Here are Davos Forum quotes from the top AI influencers:

“It’s a good sign that even at AI’s current, extremely limited capability levels, lots of people have found ways to get value out of it and also understand the limitations. There’s a harder question than the technical one, which is who gets to decide what the values (governing AI) are. That’s a big societal question.” — Sam Altman, CEO, OpenAI

“There seems to be a broad consensus that is emerging [around AI]. The world is coming together and saying we need new technology, we need some guardrails and we need norms of how we deploy this technology. That combination of private innovation with a safety-first approach to engineering and regulation to ensure that the broad societal benefits are amplified and the unintended consequences are dampened, would be the way forward.” — Satya Nadella, CEO, Microsoft

“AI will create a lot of new jobs, but you won’t be able to take the current people and put them in these jobs unless governments and companies partner together on reskilling.” — Julie Sweet, CEO, Accenture

Any business meeting’s main goal is to come up with an action plan and take the initiative to realize that goal.

However, it is challenging to find out what decisions and action plans have been made for AI and beyond by the most influential business people and governments.

It could even be a good idea if Davos could have a global action plan each year and add that to its website for the world to see so that it doesn’t seem like a meeting behind closed doors.

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In 2021, when the crypto market was at its peak, people often spoke about the emissions effect of crypto mining, however, fast forward to the AI future of 2024, it is somehow an invisible topic even though AI computing and operations require a similar level of energy usage by the data centers around the world.

Currently, the energy consumption of data centers is about 1.5% of the global electricity consumption.

The energy consumed by AI is calculated by estimating the amount of electricity required to power the world's data centers, which could jump by 50% by 2027.

You can read the Scientific American paper for more details.

The Renewable Energy Use Rate for Data Centers

When it comes to AI, the first company anyone thinks about is OpenAI. OpenAI uses the data centers of Microsoft. Microsoft generates about 70% of its data energy electricity from renewables and they project to make it 100% by 2030.

Google is already using 100% renewable energy for its data centers.

AI Model Training vs Crypto Mining

The reason why it is less of a topic compared to crypto mining could be that training AI models require immense computing power, which can only be tackled by giant companies. However, crypto mining could be done with much less budget, therefore, it is less ethically oriented and more focused on personal gains.

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