Senior AI experts express concern about the rapid AI arms race fueled by heavy investments from U.S., European, Indian, and Chinese governments alongside tech giants. While promising economic growth and innovation, these efforts risk exacerbating societal harms without responsible oversight. The wide-scale AI investments, such as the $320 billion by four major U.S. tech companies in 2024 and India’s strategic AI mission, reflect intense global competition. Experts caution that while AI may consolidate corporate power, it also poses challenges to ethical deployment and long-term societal impact that remain to be addressed.