Nvidia, supplying over 80 percent of the world's artificial intelligence (AI) chips, became the world's most valuable listed company, with a value exceeding $3 trillion. Apple and Microsoft are the only two that reached the $3 trillion mark before Nvidia. According to the Artificial Intelligence Index Report 2024, the number of granted AI patents has increased more than 31 times since 2010. AI decreases costs and improves efficiency. AI helps workers be more productive. Everyone is talking about AI and its potential impact on our lives.

Even my hairdresser recently told me that AI is changing our lives for better or for worse. She feared the rapid penetration of AI, saying that the ensuing job automation will soon make her jobless. I explained to her that experts think that hairdressers will be one of the professions that are hard to automate. But she showed her deep-seated doubts.

Apparently, she is joined by many influenced by a myriad of media reports highlighting or even exaggerating the benefits and downsides of AI. A little too much business hype around AI is generating ungrounded fears or wrongly guided beliefs in AI. People do not distinguish between generative AI and artificial general intelligence (AGI). It is pumping job loss fears into people's minds. It is in........

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