ChatGPT, created by OpenAI and released in November 2022, is the world’s most advanced chatbot, being used to answer simple queries, write songs, and draft press releases. IDTechEx’s recent “AI Chips 2023-2033” report forecasts that the global AI chips market will grow to exceed US$250 billion by 2033, with the IT & Telecoms, BFSI (Banking, Financial Services and Industrial), and Consumer Electronics industry verticals leading the way. However, improper use of AI tools represents threats to the aforementioned groups, and measures must be taken to ensure that the opportunities afforded by advanced AI greatly outweigh the threats. Questions of ownership and culpability are also raised, as current intellectual property (IP) laws are not prepared to handle the complexities of generative AI.
