Research Fellow Eliezer Yudkowsky from the The Singularity Institute for Artificial Intelligence
wrote a brief 5 minute introduction to the Singularity for a conference and shares it on the Institutes blog.
Essentially he says that an AI will most likely make it's process more effecient and increase it's own intelligence. Not that we know exactly what an AI would think, but it does seem a logical decision to make, and the first one at that. This is, by most definitions, how the Singularity will unfold.
Let's just hope it's on Our side.