Rishi Sunak has issued a terrifying warning over the "risk of extinction" from AI, saying tackling the threat should be a "global priority".
He warned that "extreme cases" could see humanity "lose control of AI completely".
WATCH: Rishi Sunak addresses the threats associated with AI
Giving a speech on threats associated with AI, Sunak said he wanted to be “honest” with the public about the risks.
He said the Government's new assessments on artificial intelligence offer a "stark warning" about the technology.
Sunak said: "Get this wrong and it could make it easier to build chemical or biological weapons.
"Terrorist groups could use AI to spread fear and disruption on an even greater scale.
"Criminals could exploit AI for cyber attacks, disinformation, fraud or even child sexual abuse.
"And in the most unlikely but extreme cases, there is even the risk that humanity could lose control of AI completely through the kind of AI sometimes referred to as ‘super intelligence’.”
But he said that it was "not a risk that people need to be losing sleep over right now" and he did not want to be "alarmist".
Despite the warnings, the PM said the Government would not “rush to regulate” AI.
He said that states should not rely on private companies “marking their own homework, as many of those working on this would themselves agree, not least because only governments can properly assess the risks of national security”.
The Prime Minister added: “And only nation-states have the power and legitimacy to keep their people safe.
“The UK’s answer is not to rush to regulate. This is a point of principle.
“We believe in innovation. It’s a hallmark of the British economy, so we will always have a presumption to encourage it not to stifle it.
“And in any case, how can we write laws that make sense for something that we don’t yet fully understand?”
He used his speech to announce that the UK Government is establishing the “world’s first” artificial intelligence safety institute.
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Sunak issued the warning ahead of next week's AI summit
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Sunak said: “I can announce that we will establish the world’s first AI safety institute right here in the UK,” the Prime Minister said during a speech in central London.
“It will advance the world’s knowledge of AI safety and it will carefully examine, evaluate and test new types of AI so we understand what each new model is capable of, exploring all the risks from social harms like bias and misinformation, through to the most extreme risks of all.
“The British people should have peace of mind that we’re developing the most advanced protections for AI of any country in the world, doing what is right and what is necessary to keep you safe.”