20VC: DeepMind's Demis Hassabis on Why AGI is Bigger than the Industrial Revolution | Why LLMs Will Not Commoditise & We Have Not Hit Scaling Laws | Bottlenecks in AI & The Energy Crisis Caused By AI | Whether AI Will Do More to Harm or Help Inequality

The returns are still very substantial, although they're a bit less than they were, obviously, at the start of all of this scaling. I would say about 90% of the breakthroughs that underpin the modern AI industry were done by either by Google Brain or Google Research or DeepMind. Those labs that have capability to, you know, invent new algorithmic ideas are gonna start having bigger advantage over the next few years. The last set of ideas are sort of, you know, all the juices being rung out of them. And I sometimes quantify, like, AGI. The coming of AGI is, like, 10 times the industrial revolution at 10 times the speed. This is twenty BC with me, Harry Stebbings, and I'm so excited for the show today. I walked to this interview, and I described it to my mother like this. We have amazing guests on the show, but very few honestly will be considered in the same realm as Newton, Turing, Einstein. Our guest today is one of the greatest minds on the planet, and I consider myself incredibly lucky to have had the chance to sit down with him and discuss what we did today. This is a truly special one and one that I'll remember for a very long time. Enjoy the episode and I so appreciate the time we had with a very special human being. I'm thrilled to welcome Demis Hassabis at DeepMind. But before we dive into the show today, did you know the industry average for booking a business trip is forty five minutes? That's a massive waste of your team's time. Well, with Navan, your employees can book a trip in just seven on average. Navan is the AI powered travel and expense platform designed for companies that value efficiency. It drives real business impact through high employee adoption and automated policy control. Now the built in AI approves in policy bookings and blocks the rest automatically. This allows allows finance teams to stop chasing receipts and skip the month and chaos. And you get this real time visibility that can save your company up to 15% on your travel budget. And that's why leaders like Visa, Stripe, Figma, and even Anthropic rely on Navan these days. Go to nivan.com/20vc today to see for yourself, and you'll get a chance to win two business class flights anywhere in Continental US. No purchase necessary. Rules apply. Head over to nivan.com/20vc now. Once Navan simplifies the travel, air wallet simplifies the spend behind it. Founders, let's get real about the growth tax. You've raised VC funding and you're scaling globally, and it's no longer about shipping product. It's about orchestrating operations across continents. But suddenly, your payments and finance stack is choking your growth. You're logging into lots of different banking portals, waiting days for transfers, and reporting across entities. It's operational drag, and it's at your scale. It's costing millions. That's why I'm so excited to partner with Airwallex. Airwallex are more …