A Saudi-backed business school in Switzerland has introduced the AI Safety Clock, designed to highlight the dangers of uncontrolled artificial general intelligence (AGI).

Currently, the AI Safety Clock indicates that there are just 29 minutes to midnight, symbolizing the urgent risks associated with AGI.

Geoffrey Hinton has raised concerns that the competition among tech giants to dominate AI could lead to rapid scalability without ensuring safety.

This urgency is underscored by California Governor Gavin Newsom's recent veto of an AI safety bill, reflecting the ongoing tension between innovation and safety in AI development.

In the U.S., regulatory efforts have been fragmented, lacking a cohesive national framework for AI governance, which emphasizes the need for comprehensive regulation.

The ticking clock serves as a reminder that the time to secure a safe AI future is limited, necessitating immediate action from all stakeholders.

Implementing fail-safes, such as 'kill-switches' in AI systems, is crucial for maintaining human control and preventing unpredictable behaviors.

As AI becomes increasingly integrated into critical infrastructures, the potential risks include manipulation of power supplies and financial markets without human oversight.

Real-world harms from AI are already evident, including environmental impacts from data centers and the exploitation of labor in developing countries for training AI systems.

Despite the growing hype around AI's potential to revolutionize industries, the reality is more complex, with many systems still requiring human direction.

The Bulletin of the Atomic Scientists warns against focusing solely on extreme AI scenarios, as this can detract from addressing more immediate risks like AI-powered misinformation.

Major AI companies, including Google, Microsoft, and OpenAI, must prioritize safety amidst rising concerns over their rapid development of AI technologies.