Asked by Sky News at the summit whether he still thought AI was a “threat to humanity”, he replied: “It’s a risk.”
It comes as countries, including the US and China, backed a UK deal to collaborateon the need to manage the potentially “catastrophic” dangers it could pose.
The world’s leading AI powers were among 28 nations to agree to the UK’s Bletchley Declaration, which stresses the need for countries to work together to harness the technology’s potential while keeping people safe.
The deal gets its name from Bletchley Park, home to Britain’s Second World War codebreakers, where the two-day summit kicked off on Wednesday.
Mr Musk is among more than 100 major figures from politics and business in attendance, including the likes of OpenAI’s Sam Altman, Google DeepMind’s Demis Hassabis, and US vice president Kamala Harris.
Professor Michael Barrett, from the University of Cambridge Judge Business School, told Sky News while Mr Musk’s star power risked making him “a bit of a sideshow”, he has “valuable” expertise to share.
“By Mr Musk coming, the summit gets two birds with one stone: a global perspective at the event and a key stakeholder who needs to be in effective dialogue with other stakeholders on issues of AI safety,” he said.
Prof Barrett said given his apparent displeasure with the White House announcements, Mr Musk may be “hoping to steer the UK government” when it comes to its own approach.
Speaking at the summit, Mr Musk suggested he would prefer a “third-party referee” to regulate the sector.
“It’s not clear to me if we can control such a thing [AI],” he told the PA news agency.
“But I think we can aspire to guide it in a direction that’s beneficial to humanity.”