Recently, prominent futurists such as Ray Kurzweil have speculated that society is on the cusp of a "technological singularity": i.e., a point at which technology accelerates so quickly that its course can no longer be predicted. Kurzweil believes that this event will be precipitated by creation of "strong" artificial intelligence exceeding the reasoning capacity of a human. The idea is that this agent can in turn develop an even smarter AI, until the capacity of the machines outstrips human reasoning entirely.
What are your thoughts on this? Do you believe "The Singularity is Near"? Is AI really the most efficient way to go about this? (why not bioengineer smarter human beings rather than try to recreate reasoning from the ground up?) What will this do to humanity, socially and philosophically? Will we become vegetables if our creations do all of the thinking for us, or will we find other pursuits? Is this territory that we should step into?

