Wednesday, May 31, 2023 | 04:15 pm

AI Is Here and Growing Fast Despite Elon Musk’s Warnings

AI Is Here and Growing Fast Despite Elon Musk’s Warnings

Tesla Inc. (NASDAQ: TSLA) is one of the world leaders in full self-driving technology, and every Tesla is constantly collecting data to help improve its vehicles’ capabilities. Musk has also released a few teasers about Teslabot, Tesla’s humanoid robot meant to replace humans doing monotonous, repetitive, or basic tasks. Other examples include his work with Neuralink Corp. and SpaceX.

Despite his heavy involvement in the AI space – or maybe because of it – Musk is still skeptical of AI development. Over the years, he has given a number of warnings, from utopian to doomsday.

When talking about his own robots, Musk notes they could lead to “a future of abundance where there is no poverty, where you can have whatever you want.” Or in slightly more dystopian terms, “AI will make jobs kind of pointless.”

Essentially, Musk is saying that there are no jobs that AI won’t be able to replace. The only jobs left will be programmers writing code for AI, but eventually, AI will be able to write its own code, and there will be no jobs left. Musk has even gone so far as to call for regulation of the space

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Despite his warnings, AI is rapidly evolving. Many have already seen what generative AI programs like ChatGPT can do, but that’s just the beginning.

In the generative AI space, companies like RAD AI have built AI programs that understand emotion. RAD specifically focuses on building marketing campaigns and claims to be the “world’s first AI marketing platform built to understand emotion.”

It seems there’s something there. According to RAD AI’s Wefunder page, some of the largest companies in the world are already using the technology to market to consumers. Wefunder is a platform that allows retail investors to invest in startups, which means anyone can invest in RAD for a limited time. RAD has raised over $2.5 million.

AI is attainable to nearly every business. While ChatGPT can be used for free for most generic writing and ideas, there are significantly more automation options businesses can take advantage of, even if they don’t know it. ChatGPT helps automate writing and chats, RAD helps automate marketing, and if you want to find anything else, there are even marketplaces being built.

AI is in high demand, but there are few people with the skills to build it. Fortunately, what you’re seeking might have already been built, and might be for sale. GenesisAI is building a marketplace for AI products on that premise. Similar to RAD, the startup is raising funds to expand its platform. The startup has collectively raised over $5 million.

AI is becoming a market mover. When news first broke of Microsoft Corp.’s (NASDAQ: MSFT) intention to buy a stake in OpenAI, the stock rallied 6%. AI is not only here, but it’s also being embraced by investors. This creates a strong incentive for companies to build and acquire other companies in the space – this could be just the beginning of the mainstream development of AI.

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