Machines matching humans in general intelligence, i.e, possessing common sense and an effective ability to learn, reason, and plan to meet complex information-processing challenges across a wide range of abstract domains have been anticipated ever since the invention of computers in the 1940s. At that time, the advent of such machines was often placed twenty years into the future. Since then, the expected arrival date of Artificial Intelligence has been receding at the rate of one year per year; so that today, futurists who concern themselves with the possibility of artificial general intelligence still often believe that intelligent machines are a couple of decades away. However, the primary reason as to why the growth of Artificial Intelligence has been slower than expected is that the technical difficulties of constructing intelligent machines have proved greater than the pioneers had prognosticated. Today, we stand where artificial intelligence has developed to such a point where the line between artificial intelligence and human intelligence has diminished to a great extent. Although there are some stops between human and artificial intelligence, the former is not the final destination for the journey of AI. The next benchmark is superhuman-level intelligence followed by ultraintelligent machines. I.J Good, who served as the chief statistician in Alan Turing’s code-breaking team in World War II quoted ,”An ultraintelligent machine can be defined as a machine that can surpass all the intellectual activities of any man, however clever. Since the design of machines is one such activity, an ultraintelligent machine could design even better machines. This would lead to an ‘intelligence explosion’. Thus, the first ultraintelligent machine is the last invention that man need ever make, provided the machine is docile enough to tell us how to keep it under control.”With the emergence of intelligence explosion, it is not difficult to deduce that mankind faces major existential risks. Thus, this prospect should therefore be examined with utmost seriousness even if it were known to have a moderately small probability of coming to pass.