OpenAI CEO Sam Altman revealed his “wildly ambitious” plans for the development of AI just a couple of months ago. He was seeking trillions in funding to improve chip technology and in turn, boost the development of AI. However, just months after revealing his ambitious plans to boost AI development, the CEO shared his concerns regarding the jobs and economy amidst the rise of AI tools during a Brookings Institute panel about AI and geopolitics.
More advanced AI tools may lead to mass job replacement in near future
When Sam Altman was asked about his thoughts on how AI-generated misinformation may affect elections, he shared his concerns about another issue – the future economy. “The thing I’m most worried about right now is, the sort of, the speed and magnitude of the socioeconomic change may have, and what the impacts on what that will be,” the CEO of OpenAI said.
His discussions were centered around how artificial intelligence may lead to mass job replacement and affect the economy. He wonders what could happen if people don’t think about the current situation seriously. According to him, GPT-4 still didn’t pose a significant risk to jobs and it made people think like, “Oh well, we were too worried about that, and that’s not a problem,” he said. “I have a fear that we just won’t take that one seriously enough going forward, and it’s a massive, massive issue.”
According to an International Monetary Fund (IMF) study from earlier this year, advanced AI technologies may impact roughly 60% of jobs in advanced economies. Reportedly, almost half of those jobs can be automated, which may lead to a mass job replacement that Altman talked about.
He told CNBC in an interview last year that he’s a “little bit scared” of ChatGPT as the tool is capable enough to eliminate certain jobs. While the tools can help people in their jobs, potentially helping them do more within less time, they can also replace people from certain jobs entirely. Some CEOs have also confirmed that they have replaced certain jobs with AI for better productivity and efficiency.
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