CZ urges caution with AI, calls for ‘balance’ CZ urges caution with AI, calls for ‘balance’
Over 1,000 tech leaders wrote an open letter calling for a six-month moratorium on all major AI development and training.
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Updated: Jul. 18, 2023 at 3:26 am UTC
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Binance CEO Changpeng ‘CZ’ Zhao said artificial intelligence (AI) is a technology that may take over our world and make us irrelevant, but no one is worried about it.
According to CZ, no one is worried about AI. Instead, people are regulating a neutral technology — blockchain/crypto — that improves efficiency and reduces transaction costs.
CZ was responding to a tweet from Javi Lopez, who predicted that an “intelligent virus” that would be impossible to eliminate would leak in the next five years. According to Lopez, the virus would use any loophole to replicate and perpetuate itself.
AI has recently become increasingly popular with OpenAI’s launch of ChatGPT. The technology has witnessed rapid adoption and growth, with several firms competing to produce more advanced AI products.
CZ added that he is pro-AI and pro-innovation, but there is a need for “balance everywhere.”
CZ not alone on AI opinion
The Binance CEO is not the only one with this view of AI.
Over 1,000 tech leaders — including Elon Musk and Apple co-founder Steve Wozniak — recently wrote an open letter calling for a six-month moratorium on all significant AI development and training.
According to them, this pause would allow developers to understand better how these technologies function. The letter raised several questions about the ethical implications of artificial intelligence, asking:
“Should we develop nonhuman minds that might eventually outnumber, outsmart, obsolete and replace us?”
Meanwhile, Coinbase CEO Brian Armstrong publicly disagreed with the letter. According to Armstrong, AI developments should “keep marching forward with progress because the good outweighs the bad.”
He added:
“The marketplace of ideas leads to better outcomes than central planning. Don’t ever let fear stop progress, and be wary of anyone trying to capture control in some central authority.”
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Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
Coinbase
Coinbase is a digital currency exchange and wallet service that allows individuals to buy, sell, and store digital currencies, such as Bitcoin, Ethereum, and Litecoin.
Changpeng Zhao, popularly known as “CZ,” is a notable figure in the cryptocurrency world, primarily for founding and leading Binance, the world’s leading cryptocurrency exchange by trading volume.
Brian Armstrong, co-founder and CEO of Coinbase, stands at the forefront of the digital currency revolution.
South African-born Elon Musk has founded several companies, including X.com (which later became PayPal), SpaceX and Tesla Motors.