In the world of technology, where change is rapid and unwavering, these emotions are often amplified by new developments in areas like biotechnology, neurotechnology, and artificial intelligence (AI). Over the past year, the latter has become one of the most pressing subjects of this dichotomy, especially among philanthropists, investors, and entrepreneurs like Seth Taube.
Widely recognized as a prolific investor with plenty of experience in building, investing, and advising billion-dollar businesses, Taube is closely familiar with the ins and outs of the tech industry. Over the past decade, Taube’s philanthropic endeavors have led him to take a distinct turn toward the ethical dimensions of technology. This professional experience and humanism have led Taube to become one of the biggest advocates for responsible AI development, which according to him will depend on the market just as much as on regulators.
“The media, public, and political leaders have chosen to focus on the role that regulators will play when it comes to ensuring the responsible development of AI technology, ignoring the immense influence the markets hold,” says Taube, who has often highlighted the moral neutrality of technologies like AI. “This perspective disregards the fact that markets are not passive bystanders in the ethical journey of AI. The truth is that investors and consumers have much more power than they often realize.”
Taube’s belief in the market’s ability to influence the moral compass of technologies like AI is mostly based on the idea of it being much more than a mere economic arena. As a reflection of collective values and demands, as well as competition, this wouldn’t be the first time the market serves as a catalyst for ethical progress.
“AI pioneers like Sam Altman have regularly called for regulators to take action to prevent the negative externalities of AI,” adds Taube, referring to OpenAI’s CEO remarks during a senate hearing and meetings with international leaders. “These remarks ignore the impact of market dynamics to harness and control the ethical development of AI.”
With its CEO facing increasing criticism, OpenAI first saw the number of ChatGPT users drop for the first time back in June, less than a month after the official launch of its mobile app for IOs. While this is not necessarily due to the increasing number of controversies surrounding the platform, it is an indication that competition is mounting. Historically, such competition has worked as an accelerant not only for innovation but also for ethical progress, especially when companies aim at attracting users from generations known for their ethical consumption.
“As investors and consumers, we can harness the power of the market to navigate the uncharted waters of AI with a steady moral compass,” concludes Taube. “Not only will this result in societal well-being being prioritized but also in the creation of a more sustainable technology, one that will not eat its own tail and eventually become the cause for its own obsolescence.”