lil: As author and mathematician Vernor Vinge first suggested - if we create an intelligence greater than our own, it can develop an intelligence even greater than itself, perhaps in a matter of only days. This resulting exponential intelligence escalation has come to be known as the Singularity. Once we start the process, it is very unlikely that we can stop it, and we have no idea what a hyper intelligence could - or would - do.
This idea, for me, is just not convincing -- fun to speculate about and a great plot for science fiction. Once Deep Blue beat Kasparov, we knew for sure that the computers we make are smarter than us.However, any time the power is down -- (and we're approaching the 10th anniversary of the great blackout of August 14, 2003) -- it is obvious to everyone that our society is balanced delicately on toothpicks and the Singularity will go stumbling into the dark with the rest of us.
Meanwhile , it looks like this project has almost reached its funding goal.