Designing an advanced AI with the purpose of designing better AI is known as Artificial General Intelligence (AGI) or sometimes referred to as "recursive self-improvement". The idea is that once an AGI is created, it can improve itself, leading to the creation of even more advanced AI, and so on, in a process known as an "intelligence explosion". If successful, this could lead to the creation of highly intelligent and capable AI systems that can solve complex problems, make decisions, and innovate at a level far beyond what humans are capable of. This could revolutionize many industries and areas of research, leading to significant advancements in science, medicine, engineering, and more. However, creating an AGI also poses significant risks and challenges. If an AGI is designed with flawed objectives or insufficient safety mechanisms, it could cause catastrophic consequences. Additionally, it is unclear how an AGI would behave once it surpasses human intelligence, as it may have goals that conflict with human values and interests. In summary, designing an advanced AI with the purpose of designing better AI has both potential benefits and significant risks, and careful consideration and planning are necessary to ensure that it is developed safely and ethically.