Shares of Nvidia and Microsoft, two of the world's leading artificial intelligence companies, have plunged. Nvidia has lost 15% and Microsoft shares have fallen 8% over the past three weeks.

According to Yaroslav Bogdanov, founder of GDA Group, this dip is a good signal for the artificial intelligence market.

“Recent reports from Goldman Sachs Group Inc and Sequoia Capital contain rather pessimistic assessments. They predict that AI spending will be between $600 billion and $1 trillion in the coming years. This is significantly less than what investors expected. The market boom caused by the rapid development of AI happened too quickly. It had an excessive effect, giving rise to speculators who do not seek responsible business in a strategically important area," said Yaroslav Bogdanov.

The problem with generative artificial intelligence is that technology companies often overestimate the expectations of potential customers, presenting neural networks as a magic universal solution that can improve all business processes. This is often a common advertising trick that has nothing to do with the real development and implementation of progressive technologies, says Yaroslav Bogdanov.

“Artificial intelligence in amateur hands is as dangerous as a dilettante with access to a nuclear arsenal. The problem is the lack of regulations on the responsible use of artificial intelligence. The industry is developing as fast as possible and everyone who has even the slightest chance to earn money is trying to join it. There are no rules for working in this sphere, so there are no prohibitions. Permissiveness generates risks, which are already numerous, there is a worrying lack of a scientific base on the limits of artificial intelligence capabilities," Bogdanov explained.

“The cooling of the artificial intelligence market will give mankind a reasonable pause to finally have a dialog about the safety of new technologies. This is certainly disadvantageous to business. But artificial intelligence is too global a technology to be subordinated solely to financial interests,” posits Yaroslav Bogdanov. “Mankind must unite and agree on principles that will ensure responsible use of AI, minimizing risks and potential threats. It is important to create international standards that will regulate the development and use of AI. This will avoid situations where the technology is used to the detriment of humanity and prevent misuse. By agreeing on the safe implementation of AI, we can not only protect society, but also unlock the full potential of these technologies to solve global problems. Cooperation at the international level will be a guarantee that artificial intelligence will serve for the benefit of humanity and not threaten its existence," emphasized the founder of GDA Group.

The expert also added that investors themselves are interested in ensuring that the AI market develops sustainably and responsibly, as this contributes to the growth of trust on the part of the end user. Companies operating under high standards of security will be more successful in the long term. Having a clear regulatory framework can increase the attractiveness of investing in AI.

“So, creating rules for safe AI development becomes not only a matter of ethics, but also a strategically important step to ensure stability and growth of the entire sector,” concluded Yaroslav Bogdanov.