AI and the Technological Singularity

What is the technological singularity, and why we should care about it?

The technological singularity marks the point beyond prediction. The theory holds that technology / machines will become so advanced that they will gain an intelligence of their own. This intelligence will duplicate (independent of humans) and compound to the point of super-intelligence, or an intelligence greater than that of a human being. Intelligence is subjective, but my definition involves an entity defining its own goals / objectives and then making decisions in an effort to achieve those goals / objectives. Should technology reach this state of being, the vast possibilities of outcomes are so great and dramatically different from one another that no quantifiable predictions can be made as to how this event will impact the world or human beings themselves.