ChatGPT Executive Shares Plan for AI-Induced Job Losses.

OpenAI CEO Urges Lawmakers to Implement AI Regulations

OpenAI’s mass-market AI system, ChatGPT, has gained widespread popularity over the last six months as knowledge workers use the tool to complete tasks such as writing code and drafting emails in a matter of seconds. However, OpenAI CEO Sam Altman testified before members of the Senate on Tuesday about the risks from artificial intelligence advancements, encouraging lawmakers to implement regulations.

The Risks of AI Advancements

Altman acknowledged that the firm’s technology will have “profound impacts” on the world and that they take the risks of this technology very seriously. Skeptics of recent AI innovations note that widespread technological unemployment could stem from the increased sophistication and prevalence of AI solutions. One recent forecast from Goldman Sachs estimated that AI could eliminate 7% of positions in the United States, largely in sectors that rely on office work such as administrative support and legal, while positions in sectors such as construction and logistics are forecasted to remain broadly intact.

Altman suggested that policymakers should consider “modernizing unemployment insurance benefits” and “creating adjustment assistance programs for workers impacted by AI advancements.” Cities and states have piloted universal basic income initiatives in recent years as they examine mechanisms to soften the impact of future technological unemployment.

The Economic Impacts of AI

Altman continued, “We understand that new AI tools can have profound impacts on the labor market. As part of our mission, we are working to understand the economic impacts of our products and take steps to minimize any harmful effects for workers and businesses. We expect significant economic impacts from AI in the near-term, including a mix of increased productivity for individual users, job creation, job transformation, and job displacement. We are actively seeking to understand the relative proportions of these factors.”

Some analysts note that AI systems render individual workers considerably more productive, implying avenues for economic growth and more opportunities for creative work as the rote elements within many professions are automated.

The Need for Regulation

Altman said that the federal government could impose “internal and external testing” requirements on companies before they release new solutions, facilitate experts and organizations to “develop and regularly update” safety standards, and implement “licensing regulations on a global scale” with other governments.

The calls for regulation occur as technology firms compete to incorporate AI developments into their products. Microsoft invested billions of dollars into ChatGPT creator OpenAI and announced earlier this year that the system would be added to search engine Bing, while Google revealed one day later that Bard, an experimental conversational AI service, would soon be added to the company’s search engine. Workforce instant messaging company Slack will include AI components in its platforms, while fast food chains such as Carl’s Jr. and Hardee’s will leverage the technology to enable voice ordering drive-thru systems.

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