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Is artificial intelligence overhyped or is AI the ‘fourth industrial revolution’?

by Rachel Kim – Technology Editor

Sydney, Australia A debate is intensifying in Australia over the economic and legal implications of artificial intelligence, specifically whether companies developing AI systems should compensate ⁤artists and writers for the use of their​ work in training​ these systems. The discussion comes ​as⁢ experts weigh whether AI represents‍ a genuine “fourth industrial revolution” or is ⁣currently ‌overhyped.

Dr. Barnet ⁢argues ⁢that requiring payment for training data would be financially ⁤unsustainable for AI companies like OpenAI, stating, ‍”They want‌ everything for free.”

The Tech Council’s Mr.‌ Kassabgi expressed hope for a “middle ground” between the AI industry and concerned creators, emphasizing the ⁣need for regulators ⁣and government to understand AI’s ⁤complexities and implement existing laws appropriately, rather than necessarily enacting new ones.

Apate,a company training ⁢chatbots using video‌ content from platforms ⁣like youtube and Vimeo,secured permission from the platforms themselves but not from the ​original creators. Professor ‍Kaafar⁢ of‌ Apate ⁣indicated openness to a compensation model for creators ‍and anticipates the company achieving profitability within several ‌years, describing their work as⁢ building a “counterintelligence platform” and ​stating, “We’re weaponising AI for good.”

The debate is unfolding as‌ Australia’s Productivity Commission recently released an interim ⁤report on AI, sparking backlash⁢ from the literary community ⁤concerned‍ about copyright exceptions. This discussion is part of a week-long deep dive into AI airing on ABC TV’s The⁢ Business.

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