Overview

• Microsoft CEO Satya Nadella, speaking at the Asia-Pacific Economic Cooperation conference, expressed optimism about the potential of AI, stating that it will be as transformative as the advent of personal computers, the internet, and smartphones.
• Nadella's company, Microsoft, has invested over $10 billion in OpenAI, the startup behind the AI chatbot ChatGPT.
• Google CEO Sundar Pichai shared similar sentiments, emphasizing the need to work hard to harness AI's potential.
• The stock prices of both Microsoft and Google have soared by more than 50% this year, largely due to advances in AI, producing an additional $1.6 trillion in shareholder wealth.
• Despite the optimism from tech industry leaders, there are concerns from outside the industry about the potential misuse of technology and the impact of AI on jobs.