Stuart Varney: Democrats’ first instinct is to ‘throttle’ AI despite its enormous impact
FOX Business' Stuart Varney discusses artificial intelligence being a game changer and Democrats looking for 'ways to reign it in'
During his "My Take," "Varney & Co." host Stuart Varney discussed the revolution of artificial intelligence and why Democrats may be trying to quell the technology’s strides, arguing the party’s 'first instinct is to throttle it.
STUART VARNEY: The numbers are stunning: Nvidia's value went up $277 billion just on Thursday.
Imagine that. A gain of more than a quarter trillion dollars in one 6/12-hour trading session.
It is artificial intelligence that has ignited the stock market: Wall Street now accounts for half the value of all the stock markets in the world.
In the last generation, it is American technology that has created three world game changers.
The Internet: Created by us, developed by American companies.
Fracking: Invented and developed by American oilmen, revolutionized energy supply.
And now A.I., brought to us by California’s Silicon Valley.
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These game changers came from private enterprise. Scientists, mathematicians, engineers and entrepreneurs working together to pursue profit and a dream – all American.
The rest of the world nips at our heels.
But already, just as A.I. arrives with enormous impact, the Democrats are looking for ways to reign it in.
It’s dangerous, they say.
OK, maybe it can be, but the left's first instinct is to throttle it.
They say it’s a billionaire's plaything and extends the wealth gap. So, it must be bad.
A.I. uses vast amounts of energy. For example, an A.I.-driven search uses four or five times as much energy as non-A.I. search.
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Some Democrat senators want the government to limit A.I.'s climate impact!
If the government wanted to be useful, it could figure out how to generate all the electricity we're going to need. Because at the moment, the grid is not going to cope! Wind and solar just don't make it!
My point here is that we're at the beginning of a revolution that looks powerful and far-reaching.
As the Wall Street Journal says today: "A.I. advances are happening despite government, not because of it."
It is American developed and American lead.
We should keep it that way.