Meta Platforms boss Mark Zuckerberg is at it again with artificial intelligence, this time pledging to accelerate the development of AI's future.
The chief executive of Facebook's parent company has doubled down on his plans to develop artificial superintelligence (ASI), a technology not quite here yet but that's seeds he's planting.
"For our superintelligence effort, I'm focused on building the most elite and talent-dense team in the industry," Mr Zuckerberg said in a post on Threads.
He added that Meta would spend "hundreds of billions" of dollars to build this AI of the future.
What is ASI?
ASI is still an entirely hypothetical software-based system but is expected to have an intellectual scope surpassing human thinking capability and going far beyond the capacity of today's AI.
Its highly advanced cognitive functions and developed reasoning skills would surpass those of any human, IBM says.
However, at this point, ASI is still a future technology and does not exist yet, as today's innovations are too limited to fully build it.
To put this into perspective, the current level of AI is considered as artificial narrow intelligence, or weak AI, which, even though it can excel in specific tasks such as those presently carried out by generative AI, it still relies on pre-programmed algorithms and needs human intervention to operate.
More importantly, weak AI cannot learn new skills or develop a deep understanding of the world, IBM explains, because "the [human] brain's workings are still not fully understood making it difficult to recreate via software and hardware".
"Not all thinkers are aligned on the feasibility of something like an ASI. Human intelligence is the product of specific evolutionary factors and may not represent an optimal or universal form of intelligence," IBM added.
What are the areas in which ASI would excel? Decision-making and emotional intelligence most notably, in addition to boosting what present AI can already do with creativity and problem-solving,
How does ASI compare to quantum AI?
Advanced general intelligence (AGI) is another advanced form of AI capable of performing any intellectual task that a human can. It's also at a theoretical stage.
Unlike current AI systems, which are designed for narrow – or "weak" – specific purposes such as language translation or image recognition, AGI aims to understand, learn and adapt to a range of jobs across various industries.
AGI and ASI, in some cases, have been used interchangeably. The key difference is that while AGI would possess human reasoning skills in a wide range of specific applications, ASI is expected to surpass human intelligence in every aspect.
Quantum AI, meanwhile, is powered by large quantum models are also advanced AI systems designed to analyse, process and generate quantitative data rather than natural language, which is the basis for the current large language models that power generative AI.
“Word-based AI is trained only on the words of the internet," Jack Hidary, chief executive of Alphabet spinoff SandboxAQ, told The National. "So if it's not on the internet, it doesn't know it … we produce data in a very different way [like] from actual equations."
What is Zuckerberg promising?
Much like his highly criticised metaverse plans, Mr Zuckerberg is, again, vowing a lot - including the big bucks.
On another Threads post, he said his company is "going to invest hundreds of billions of dollars to build superintelligence". To hammer down that point, he stressed that Meta has "the capital from our business to do this".
As of Tuesday, Meta has a market capitalisation of $1.81 trillion, which is the sixth highest globally and one of only 11 companies with a trillion-dollar value, data from CompaniesMarketCap shows.
In its fiscal first quarter, Meta's revenue jumped 16 per cent annually to $42.31 billion, while profit leapt 35 per cent year-on-year to $16.6 billion - more than analyst estimates and defying worries over the effects of US-imposed tariffs.
Meta is scheduled to report its second-quarter results on July 30, with sales in the range of between $42.5 billion and $44.5 billion, according to chief financial officer Susan Li, in line with analyst projections.
The company and its boss have been obsessed with futuristic technology and have pledged to invest in both costs - billions, reportedly - and recruitment.
When is ASI expected to be realised?
This is where it gets a little sticky, as predictions on when ASI - or even AGI - will become a reality range from the near future to decades away.
A study conducted in February by AIMultiple Research principal analyst Cem Dilmegani found AI experts expect a 50 per cent chance that machines may achieve human-level intelligence anytime between 2040 and 2061.
Meanwhile, a 2024 study conducted by researchers from AI Impacts, Germany's University of Bonn and the UK's University of Oxford found the possibility "of unaided machines outperforming humans in every possible task was estimated at 10 per cent by 2027 and 50 per cent by 2047 ... if science continues undisrupted".
The updated analysis, conducted in February by Cem Dilmegani, principal analyst at AIMultiple Research, combed through about 8,600 predictions from scientists, AI experts and entrepreneurs between 2009 and 2023 to understand when experts believe it may happen.
A subsection of the analysis encompassed 10 surveys that queried a total of 5,288 AI researchers and experts. Based on an averaging of the data, there is a 50 per cent probability that we would achieve human-level intelligence in machines at some point between 2040 and 2061, the analysis found.
Is there a body dedicated to ASI?
Yes - the Artificial Superintelligence Alliance, a collective that describes itself as "the largest open-sourced, independent entity in AI research and development", according to its LinkedIn page.
The group comprises Fetch.ai, SingularityNET and Ocean Protocol and Cudos, and aims to "accelerate the advancement of decentralised AGI and, ultimately, ASI".
Tips for job-seekers
- Do not submit your application through the Easy Apply button on LinkedIn. Employers receive between 600 and 800 replies for each job advert on the platform. If you are the right fit for a job, connect to a relevant person in the company on LinkedIn and send them a direct message.
- Make sure you are an exact fit for the job advertised. If you are an HR manager with five years’ experience in retail and the job requires a similar candidate with five years’ experience in consumer, you should apply. But if you have no experience in HR, do not apply for the job.
David Mackenzie, founder of recruitment agency Mackenzie Jones Middle East
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New central waste facility on site at expo Dubai South area to handle estimated 173 tonne of waste generated daily by millions of visitors
Recyclables such as plastic, paper, glass will be collected from bins on the expo site and taken to the new expo Central Waste Facility on site
Organic waste will be processed at the new onsite Central Waste Facility, treated and converted into compost to be re-used to green the expo area
Of 173 tonnes of waste daily, an estimated 39 per cent will be recyclables, 48 per cent organic waste and 13 per cent general waste.
About 147 tonnes will be recycled and converted to new products at another existing facility in Ras Al Khor
Recycling at Ras Al Khor unit:
Plastic items to be converted to plastic bags and recycled
Paper pulp moulded products such as cup carriers, egg trays, seed pots, and food packaging trays
Glass waste into bowls, lights, candle holders, serving trays and coasters
Aim is for 85 per cent of waste from the site to be diverted from landfill
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Look north
BBC business reporters, like a new raft of government officials, are being removed from the national and international hub of London and surely the quality of their work must suffer.
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Killing of Qassem Suleimani
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Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
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Like a Fading Shadow
Antonio Muñoz Molina
Translated from the Spanish by Camilo A. Ramirez
Tuskar Rock Press (pp. 310)
UAE currency: the story behind the money in your pockets