Artificial General Intelligence (AGI) Development - The industry has observed a rapid advancement in AI capabilities, transitioning from basic chatbots to systems with an estimated IQ of 140+ across various subjects within three years [1] - The industry suggests that AGI, defined as surpassing the average human intelligence, was achieved last year [2] - The industry anticipates AGI surpassing 99% of human intelligence within a year [2] Economic Impact and Future Implications - The industry highlights the potential for an "Economic Singularity," emphasizing a limited timeframe of five years to leverage AI technology for economic gain before potential displacement [2] - The industry notes a reluctance to officially announce AGI due to concerns about the potential replacement of humans as the dominant intelligence [1]