AI anxiety and expert opinions

What happened: A shift in public perception of AI has emerged, with concerns about risks outweighing benefits. An NBC News poll found 57% of registered voters believe AI risks are greater than benefits. A Pew Research poll showed 61% of adults under 30 share this concern. Meanwhile, AI companies are facing a PR backlash, with high-profile commercials during NBA Playoffs drawing criticism.

Market impact: Tech companies and AI startups are affected. The shift in public sentiment could impact investment decisions and regulatory environment. If concerns persist, it may drive demand for AI regulation, affecting valuations and growth prospects of AI-focused companies.

What to watch next: The US midterm elections (November 8, 2022) will indicate political support for AI regulation. Also, watch for earnings reports from AI-focused companies like NVIDIA (Q3 2022, expected August 17) and AMD (Q2 2022, expected August 30), which could provide insights into AI demand and sentiment. Lastly, track the progress of AI-related bills in Congress, such as the Algorithmic Accountability Act.