AI Regulation for Large Companies but not Startups, says OpenAI CEO Sam Altman
Sam Altman, CEO of OpenAI that developed ChatGPT, believes that it’s essential to regulate large companies operating in the artificial intelligence (AI) space. Still, regulations shouldn’t affect startups, he said in a conversation with ET. Altman thinks that there should be no AI-related regulations on smaller companies operating in the field of artificial intelligence. On the risk that ChatGPT poses to jobs, Altman stated that there would be newer and better jobs going forward, and in two generations, people could adapt to any labour market changes. However, he cautioned that the speed of change this time may demand that governments and companies work together to address the rupture in the socioeconomic compact.
Altman also clarified that OpenAI was not currently training GPT5, the successor to GPT4. He added that there needed to be more safety audits, and he wished to tell people about the timeline of the next GPT. On ethical guidelines in AI, Altman said, “Those are not OpenAI’s decisions to make. It’s for the world to democratize.” Paymate, a fintech firm that processes large-value business transactions, has received an in-principle approval from the Reserve Bank of India to operate as a payment aggregator and expects to file its IPO papers afresh within 90 days.
Zomato has built an AI team and plans to hire for roles including machine learning and data engineering to integrate AI into various customer-facing features like search and notifications. Globally, internet companies are increasingly utilizing AI tools to improve services. MakeMyTrip founder recently spoke of the online travel agency adopting generative AI. Narayana Murthy’s investment company Catamaran is in advanced talks to invest in Ola Electric. Ola Electric is looking to raise $300 million in the current funding round, which has been in the works for several months.
Editor’s Notes:
It is crucial to regulate large companies operating in the artificial intelligence (AI) space, and OpenAI CEO Sam Altman’s suggestion is a step in the right direction. AI is a cutting-edge technology that has tremendous potential, but it also poses a significant risk if not regulated effectively. It is essential to maintain a fine balance between regulating AI and allowing startups to flourish. As the world’s dependence on digital payments, e-commerce, and online travel booking continues to grow, incorporating AI tools to improve services is inevitable. AI has the potential to revolutionize the way companies approach business, and it is heartening to see India’s growing embrace of the technology.
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