(NBC, KYMA/KECY) - They're calling it the new Cold War, but this time, with more intelligent machines.
That's just part of the latest warning from both the Federal Bureau of Investigation (FBI) and the White House about how tech is being used against us, and it's already costing local companies billions.
Artificial intelligence (AI) technology is hot and full of promise, but according to security experts, it can be exceptionally dangerous in the wrong hands.
"These technologies are of a level and an importance both in terms of the opportunity they present and the dangers they present of something like we've never seen," said Condoleezza Rice, Director of the Hoover Institution.
A Cold War supercharged with technology
At a summit hosted by the FBI and the Hoover Institution, experts say the biggest "current" security threat comes from China.
"There is no greater threat to innovation than the Chinese government, and it is a measure of how seriously we take that threat that we have chosen to come together," said Christopher Wray, Director of the FBI.
The Biden administration issued new restrictions on companies exporting AI technology to China and other countries, and Bay Area cybersecurity companies, like SlashNext, say this "Cold War" is supercharged with technology.
"This is definitely the new Cold War, because back in the day, it was more, 'Can I put more bombs and more missiles that point to you?' Whereas in this case, it's truly digital. It's anywhere where the information is, and there's also the spy component with it," said Patrick Harr, CEO of SlashNext.
Those export restrictions of AI technology is already being felt in Silicon Valley; Nvidia, which makes AI-related computer chips, lost close to $60 billion in stock market value Tuesday alone.