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Celebrated cosmologist Professor Stephen Hawking this evening declared that artificial intelligence will either “transform” our society or destroy it.

The 74-year-old was speaking at Cambridge University’s David Attenborough building to mark the launch of its artificial intelligence (AI) centre.

In a speech to guests, he said: "I believe there is no deep difference between what can be achieved by a biological brain and what can be achieved by a computer.

"It therefore follows that computers can, in theory, emulate human intelligence – and exceed it.

"Artificial intelligence is now progressing rapidly. Recent landmarks such as self-driving cars, or a computer winning at the game of Go, are signs of what is to come.

"Enormous levels of investment are pouring into this technology. The achievements we have seen so far will surely pale against what the coming decades will bring.”

He went on: "The potential benefits of creating intelligence are huge. We cannot predict what we might achieve, when our own minds are amplified by AI.

"Perhaps with the tools of this new technological revolution, we will be able to undo some of the damage done to the natural world by the last one - industrialisation.

"And surely we will aim to finally eradicate disease and poverty. Every aspect of our lives will be transformed, In short, success in creating AI, could be the biggest event in the history of our civilisation.

"But it could also be the last, unless we learn how to avoid the risks. Alongside the benefits, AI will also bring dangers, like powerful autonomous weapons, or new ways for the few to oppress the many.

"It will bring great disruption to our economy. And in the future, AI could develop a will of its own - a will that is in conflict with ours.

"In short, the rise of powerful AI will be either the best, or the worst thing, ever to happen to humanity.

"We do not yet know which. That is why in 2014, I and a few others called for more research to be done in this area. I am very glad that someone was listening to me.

"The research done by this centre is crucial to the future of our civilisation and of our species. I wish you the best of luck."

The Leverhulme Centre for the Future of Intelligence (CFI) will see leading minds from around the world come together in Cambridge, to examine the impact of the development of smart machines.

Focus on future a 'welcome change'

Its launch comes after a £10 million investment from the Leverhulme Trust, which provides cash to research projects across the UK.

Prof Hawking added: "We spend a great deal of time studying history, which, let's face it, is mostly the history of stupidity.

“So it is a welcome change that people are studying instead the future of intelligence.

"Intelligence is central to what it means to be human.

“Everything that our civilisation has achieved, is a product of human intelligence, from learning to master fire, to learning to grow food, to understanding the cosmos."