The US and China have been in a Cold War for at least four years, with some important differences from the Cold War with the Soviet Union. However, there is a possibility of escalation into a hot war.
The cost of a single life lost in war is often much more than just that one individual. The belief that throwing more soldiers and resources at a problem will solve political issues is shortsighted and ultimately ineffective.
The next world war will likely center around resource-rich and strategically important third world countries, and will be fought as a proxy war between the world's largest economies who are banding together.
The race for AI and quantum computing has become the first hot war of Cold War II, mirroring the nuclear arms race of Cold War I, with unexpected battles in unexpected locations.
The power differential created by the development of AI has the potential to make the world ripe for horrific abuse in the hands of someone who decides to enact it. Game theory and nuclear war provide examples of how such risks can be prevented.