Sam Altman, CEO of Microsoft-backed OpenAI and ChatGPT creator speaks during a talk at Tel Aviv University in Tel Aviv, Israel June 5, 2023. REUTERS/Amir Cohen Acquire Licensing Rights
STOCKHOLM, June 6 (Reuters) – Microsoft-backed OpenAI, the company behind ChatGPT, has no plans to go public any time soon, Chief Executive Sam Altman said at a conference in Abu Dhabi.
"When we develop super intelligence, we are likely to make some decisions that most investors would look at very strangely," Altman said.
"I don't want to be sued by … public market, Wall Street etc, so no, not that interested," he said in response to a question on whether he will take OpenAI public.
OpenAI has so far raised $10 billion from Microsoft (MSFT.O) at a valuation of almost $30 billion as it invests more on building computing capacity.
"We have a very strange structure. We have this cap to profit thing," he said.
OpenAI started off as a non-profit organisation but later created a hybrid "capped-profit" company, that allowed it to raise external funds with a promise that the original non-profit operation still benefits.
While building their artificial intelligence capacities, Altman and many prominent scientists involved with creating and marketing the technology have warned of the threat it poses, particularly content-creating generative AI such as ChatGPT, with some equating it to extinction-level risk. They have demanded regulation.
Altman is on a whirlwind tour across the world, meeting heads of states of several countries, and was in the United Arab Emirates on Tuesday. He plans to travel next to Qatar, India and South Korea.
While in Europe he got into controversy for saying OpenAI may leave the region if it becomes too hard to comply with planned laws on AI, inviting criticism from several lawmakers, including EU industry chief Thierry Breton. OpenAI later reversed the stance.
"We did not threaten to leave the EU," Altman said on Tuesday. "We expect to be able to comply. There's still more clarity we are waiting for on the EU AI Act, but we are very excited to operate in Europe."
The EU is working on a set of laws to govern AI, including proposals that would force any company using tools like ChatGPT to disclose copyrighted material used to train its systems.
OpenAI does not disclose that data on its latest AI model, GPT 4.
Altman, however, found support from EU tech chief Margrethe Vestager, who said she did not perceive Altman's comments as a threat but as a promise to do his best.
"The number one thing about this technology that people don't understand is that in a few years GPT 4 is going to look like a little toy that was not that impressive," Altman said referring to the growth of AI.
"There will be images, audio, video, text, computer programming, all together."
Many experts have cited a potential threat to jobs being replaced by AI including in sectors such as transport and logistics, office support and administration, production, services and retail.
The jobs of the future would look "super different than many of the jobs of today", Altman said, adding that there would be opportunities too.
Reporting by Supantha Mukherjee in Stockholm Editing by David Goodman and Emelia Sithole-Matarise
Our Standards: The Thomson Reuters Trust Principles.
Supantha leads the European Technology and Telecoms coverage, with a special focus on emerging technologies such as AI and 5G. He has been a journalist for about 18 years. He joined Reuters in 2006 and has covered a variety of beats ranging from financial sector to technology. He is based in Stockholm, Sweden.
Regulated financial exchanges are talking about how to capitalise on interest in crypto, an industry group said on Tuesday, but a third of respondents to its latest survey said they had no plans to offer the asset class.
Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers.
Build the strongest argument relying on authoritative content, attorney-editor expertise, and industry defining technology.
The most comprehensive solution to manage all your complex and ever-expanding tax and compliance needs.
The industry leader for online information for tax, accounting and finance professionals.
Access unmatched financial data, news and content in a highly-customised workflow experience on desktop, web and mobile.
Browse an unrivalled portfolio of real-time and historical market data and insights from worldwide sources and experts.
Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks.
All quotes delayed a minimum of 15 minutes. See here for a complete list of exchanges and delays.
© 2023 Reuters. All rights reserved