Technological Singularity....; Follow this link
http://singinst.org/singularityfaq#FriendlyAI
1. Basics
1.1. What is the Singularity?
There are many types of mathematical and physical singularities, but in this FAQ we use the term 'Singularity' to refer to the technological singularity. There are three distinct ideas someone might have in mind when they refer to a 'technological Singularity':
1.Intelligence explosion: When humanity builds machines with greater-than-human intelligence, they will also be better than we are at creating still smarter machines. Those improved machines will be even more capable of improving themselves or their successors. This is a positive feedback loop that could, before losing steam, produce a machine with vastly greater than human intelligence: machine superintelligence. Such a superintelligence would have enormous powers to make the future unlike anything that came before it.
2.Event horizon: All social and technological progress thus far has come from human brains. When technology creates entirely new kinds of intelligence, this will cause the future to be stranger than we can imagine. So there is an 'event horizon' in the future beyond which our ability to predict the future rapidly breaks down.
3.Accelerating change: Technological progress is faster today than it was a century ago, and it was faster a century ago than it was 500 years ago. Technological progress feeds on itself, leading to accelerating change much faster than the linear change we commonly expect, and perhaps change that is faster than we can cope with.
These three ideas are distinct, and might support or contradict each other depending on how they are stated. In this FAQ we focus on the intelligence explosion Singularity, which allows for easy discussion of the other two Singularity ideas.
See also:
Yudkowsky, Three Major Singularity Schools
Wikipedia, Technological Singularity
Vinge, The Coming Technological Singularity
SIAI, What is the Singularity?
Kurzweil, The Singularity is Near
Sandberg, An Overview of Models of Technological Singularity