This report on the state of advanced AI capabilities and risks, written by 100 AI experts including representatives nominated by 33 countries and intergovernmental organisations, explores the state of scientific understanding of general-purpose AI with a focus on understanding and managing its risks. It outlines several risks - from malicious use to malfunctions and systemic risks - and calls for urgent and adaptable action by policymakers and stakeholders to ensure that the benefits of AI are realised safely, through informed risk management and international cooperation.