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This is about ChatGPT (or AI in general) disrupting other companies, not about OpenAI (or ChatGPT) being a fraud. Relevant quote: The most immediate way in wh

by senko 4y ago

This is about ChatGPT (or AI in general) disrupting other companies, not about OpenAI (or ChatGPT) being a fraud. Relevant quote: The most immediate way in which ChatGPT is going to be securities fraud is the usual “everything is securities fraud” way: 1. ChatGPT is going to be disruptive to some number of businesses and industries. 2. Some companies will lose money because ChatGPT disrupts their business. 3. This will be bad, for them, and their stocks will drop. 4. Every bad thing that happens to a public company can be characterized as securities fraud: “You didn’t sufficiently warn us about the bad thing, so we bought the stock thinking it was good, but then the bad thing happened and the stock dropped, so we were defrauded.”

mattbrewsbytes 4y ago
I suspect there will be companies touting AI or GPT types of things seeking investment. Some of these are likely to turn out to be fraudulent without any such technology being used, this type of thing happens with every tech hype cycle. It would be super helpful for the industry to have some independently created and peer reviewed (under NDA if necessary) stages of AI or terminology that can and cannot be used in various ways. Without this I expect to see a bunch of "GPT", "bot" and "AI" terms thrown about for years when under the hood none of those things are used and people just used the words to get traction.
- senko 4y ago
  This has always been the case. During the dotcom bubble, many companies added ".com" to their name just to benefit from the hype. During the crypto craze companies were peddling their crypto strategies left and right. Same with ESG. I don't think there will incentive enough to regulate it, as it's very hard to figure out how to regulate (there are tons of different AI approaches, it's a very broad term) and stretching the truth usually doesn't cause actual harm to people. The only counter-example I can think is food (process) labelling, where terms like "organic", "bio" or "halal" are regulated.
  - mattbrewsbytes 4y ago
    Yeah and all the ICO's as well. I'm not suggesting Government regulation, they move too slowly and barely understand technology. I think the leading AI firms would be best to create some standards body to come up with definitions and certifications about usage, ethics, etc. around the technology. Hire some lawyers and get independent trademarks or whatever that can only be granted by the standards body.

by senko 4y ago

mattbrewsbytes 4y ago

I suspect there will be companies touting AI or GPT types of things seeking investment. Some of these are likely to turn out to be fraudulent without any such technology being used, this type of thing happens with every tech hype cycle. It would be super helpful for the industry to have some independently created and peer reviewed (under NDA if necessary) stages of AI or terminology that can and cannot be used in various ways. Without this I expect to see a bunch of "GPT", "bot" and "AI" terms thrown about for years when under the hood none of those things are used and people just used the words to get traction.

senko 4y ago
This has always been the case. During the dotcom bubble, many companies added ".com" to their name just to benefit from the hype. During the crypto craze companies were peddling their crypto strategies left and right. Same with ESG. I don't think there will incentive enough to regulate it, as it's very hard to figure out how to regulate (there are tons of different AI approaches, it's a very broad term) and stretching the truth usually doesn't cause actual harm to people. The only counter-example I can think is food (process) labelling, where terms like "organic", "bio" or "halal" are regulated.
- mattbrewsbytes 4y ago
  Yeah and all the ICO's as well. I'm not suggesting Government regulation, they move too slowly and barely understand technology. I think the leading AI firms would be best to create some standards body to come up with definitions and certifications about usage, ethics, etc. around the technology. Hire some lawyers and get independent trademarks or whatever that can only be granted by the standards body.