[YeGoblynQueenne]

That's pretty much the Singularity conjecture in a nutshell: that exponential advances in computing power will drive an exponential increase in machine intelligence.

It gets more nuanced than that but there are actually very specialised people who argue very forcefully that AGI is a hair's breadth away and we must act now to protect ourselves from it.

Edit: so not "most" people but definitely some very high-profile people. Although granted, they're high-profile exactly because they keep saying those things.

[spot]

nope https://en.wikipedia.org/wiki/Technological_singularity#Algo...

"Carl Shulman and Anders Sandberg suggest that algorithm improvements may be the limiting factor for a singularity because whereas hardware efficiency tends to improve at a steady pace, software innovations are more unpredictable and may be bottlenecked by serial, cumulative research."