On the Opportunities and Risks of Foundation Models

In this report, we have endeavored to comprehensively discuss many of the most critical aspects of foundation models, ranging from their technical underpinnings to their societal consequences. In this way, we acknowledge the unusual approach taken: we have attempted to clarify the nature of a paradigm that may only have just begun, rather than waiting for more to unfold or the dust to settle. Therefore, much still remains unclear in spite of our efforts and we reiterate that this is just the beginning of a paradigm shift: foundation models have only just begun to transform the way AI systems are built and deployed in the world. Moving forward, we view this document as serving an important role in orienting and framing dialogue on these models and this new paradigm in AI. That said, to ensure the responsible development and deployment of these models on durable foundations, we envision collaboration between different sectors, institutions, and disciplines from the onset to be especially critical.