There is a "discussion" unleashing between Eliezer Yudkowsky and Greg Egan, scroll down here. It yielded this highly interesting comment by Eliezer Yudkowsky:
I don’t think the odds of us being wiped out by badly done AI are small. I think they’re easily larger than 10%. And if you can carry a qualitative argument that the probability is under, say, 1%, then that means AI is probably the wrong use of marginal resources – not because global warming is more important, of course, but because other ignored existential risks like nanotech would be more important. I am not trying to play burden-of-proof tennis. If the chances are under 1%, that’s low enough, we’ll drop the AI business from consideration until everything more realistic has been handled.
Finally, some quantification!
Here's a sequence of interpretations of this passage, in decreasing order of strength:
I would be very grateful to see the weakest...
Link: johncarlosbaez.wordpress.com/2011/04/24/what-to-do/
His answer, as far as I can tell, seems to be that his Azimuth Project does trump the possibility of working directly on friendly AI or to support it indirectly by making and contributing money.
It seems that he and other people who understand all the arguments in favor of friendly AI and yet decide to ignore it, or disregard it as unfeasible, are rationalizing.
I myself took a different route, I was rather trying to prove to myself that the whole idea of AI going FOOM is somehow flawed rather than trying to come up with justifications for why it would be better to work on something else.
I still have some doubts though. Is it really enough to observe that the arguments in favor of AI going FOOM are logically valid? When should one disregard tiny probabilities of vast utilities and wait for empirical evidence? Yet I think that compared to the alternatives the arguments in favor of friendly AI are water-tight.
The problem why I and other people seem to be reluctant to accept that it is rational to support friendly AI research is that the consequences are unbearable. Robin Hanson recently described the problem:
I believe that people like me feel that to fully accept the importance of friendly AI research would deprive us of the things we value and need.
I feel that I wouldn't be able to justify what I value on the grounds of needing such things. It feels like that I could and should overcome everything that isn't either directly contributing to FAI research or that helps me to earn more money that I could contribute.
Some of us value and need things that consume a lot of time...that's the problem.