alt Hacker Newslols and unhinged predictions aside, why are there communities excited about a singularity? Doesn't it imply the extinction of humanity?
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We avoid catastrophe by thinking about new developments and how they can go wrong (and right).
Catastrophizing can be unhealthy and unproductive, but for those among us that can affect the future of our societies (locally or higher), the results of that catastophizing helps guide legislation and "Overton window" morality.
... I'm reminded of the tales of various Sci-Fi authors that have been commissioned to write on the effects of hypothetical technologies on society and mankind (e.g. space elevators, mars exploration)...
That said, when the general public worries about hypotheticals they can do nothing about, there's nothing but downsides. So. There's a balance.
I think the idea is we merge with the AI.
It depends on how you define humanity. The singularity implies that the current model isn't appropriate anymore, but it doesn't suggest how.