One of the market’s leading artificial intelligence (AI) stocks took a big hit with investors on Tuesday. C3.ai (NYSE:AI) The company’s stock price fell nearly 8% on the back of comments from leading executives in the AI field and regulatory trends overseas. This decline was much larger than the bellwether’s 1.4% decline. S&P500 Index of the day.
Altmann speaks, EU enacts legislation
At the World Government Summit in Dubai, OpenAI CEO Sam Altman warned of rapid advances in AI technology. During his live video interview, he said this about it: Mr. Altman is in many ways the face of AI, and his company developed the highly popular ChatGPT software.
Altman wasn’t apocalyptic, but his concerns were notable given that he and OpenAI have become so famous for AI applications. “I’m much more interested in the very subtle social disharmony in which the mere existence of these systems in society can cause things to go horribly wrong without any particular malice,” he said. ”, making his position clear.
In another development, two committees of the European Union’s European Parliament have ratified the agency’s AI law. This is a set of rules that forms the framework for AI regulation in the 27-nation European Union.
With AI, it’s not all sunshine and roses
Altman’s comments were more cautious than pessimistic, and while AI laws have been around for quite some time, neither development has encouraged investors. AI is already a powerful technology, so we need to be careful to leverage it properly. But investors often don’t want to hear about the potential downside and don’t look forward to the dawn of regulation that could be seen as overregulation.
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Eric Volkman has no position in any stocks mentioned. The Motley Fool recommends his C3.ai. The Motley Fool has a disclosure policy.
The original article on Why the top AI stock C3.ai fell on Tuesday was published by The Motley Fool
