Following OpenAI's declaration of achieving Artificial General Intelligence (AGI), Google DeepMind promptly countered by launching the DeepMind Institute (DMI). This new entity is spearheaded by three luminaries: Demis Hassabis, Shane Legg, and James Manyika. Positioned against the backdrop of AGI's impending emergence, the institute is dedicated to delving into the potentially transformative—and possibly disruptive—effects of AGI on the economy, scientific landscape, and society at large. It also aims to devise appropriate governance frameworks to navigate these changes. DMI has already brought together a multidisciplinary research team and, on the very day of its inception, published three research papers. These papers address pivotal issues, including economic policies tailored for AGI and enhancing transparency in AI reasoning processes. Given the swift progress in state-of-the-art AI technologies, the window for society to ready itself for AGI is rapidly closing, underscoring the urgency of DMI's mission.