Nearly a decade ago, Bill Gates foresaw AI's immense potential for profit—and now it's worth billions.

AI is increasingly present in various forms, such as chatbots and movies, with tech companies investing heavily in this technology. The field of "prompt engineering" is highly sought after and lucrative.

Bill Gates predicted the future a decade ago when he stated that if he had to start over, he would focus on the "thrilling" industry of AI.

At a 2017 event at Columbia University, Gates stated that the work in artificial intelligence today is at a really profound level.

Google's DeepMind AI lab had achieved a "profound milestone" by creating a computer program that could defeat humans at the board game Go, even though the technology was still years away from its most notable advancements in generative text and images powered by large language models.

"Gates stated that AI, which includes the creation of agents and the ability to read and comprehend material, will be exceptional. As a result, anything related to this technology would be an exciting lifetime career."

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Before Gates' remarks, companies such as Apple, Amazon, Tesla, and IBM had been researching and developing AI models for various applications, including virtual personal assistants and self-driving cars. OpenAI, which created ChatGPT, launched in 2015 with a promise of $1 billion in funding from investors like Elon Musk, Peter Thiel, and Reid Hoffman.

Last year, Gates was taken aback by the rapid advancement of technology when he learned that OpenAI had successfully created an AI model capable of achieving a high school AP Biology exam score in just a few months.

"Gates stated that the accomplishment was "the most significant advance in technology since the introduction of the graphical user interface in 1980," as they completed it in a short period of time."

Gates acknowledged that the fast pace of AI development is accompanied by valid concerns, as modern AI systems are still plagued with errors and can facilitate the spread of false information online, while also raising concerns about job displacement.

Bill Gates stated in September that if he had to start a new business, he would launch an "AI-centric" startup. However, the current market presents much steeper competition for any AI company compared to 2017.

"Gates stated that raising billions of dollars for a new AI company based on just a few sketch ideas is not unique. He emphasized the need for a unique perspective on how AI systems are designed, something that others have not yet grasped."

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