We’re not worried enough about the impact of AI on the economy

AI could wreak havoc in the upcoming election season.

But when Sam Altman, CEO of OpenAI, was asked for his opinion on how the spread of AI-generated misinformation could affect elections, the tech leader seemed more concerned about another issue: the impact of AI on the economy.

“What worries me most now is the speed and scale of socioeconomic change and its consequences,” Altman said Tuesday during a Brookings Institution roundtable on artificial intelligence and geopolitics.

Altman says debate about the impact of artificial intelligence on the economy—for example, the possibility that the technology will lead to massive job displacement—has diminished this year compared to last year. He worries about what might happen if people don’t take these concerns seriously.

“GPT-4 didn’t have much of a noticeable impact on the economy, so people said, ‘Well, we were too worried about it and it’s not a problem,'” Altman said on the panel, referring to the linguistic model. . which supports ChatGPT “I’m afraid we won’t take this seriously enough in the future and that’s a huge problem.”

Altman did not immediately respond to a request for comment. Business Insider before publication when asked why he thought this would be a problem.

New research shows just how much of an impact AI could have on the economy. An International Monetary Fund (IMF) study earlier this year concluded that AI could impact approximately 60% of jobs in “advanced economies.”

About half of these jobs could be automated, according to the IMF, which could lead to less hiring and lower wages. In turn, according to another McKinsey study, almost 12 million American workers may have to change jobs between now and 2030.

It appears that workers are already noticing the impact of AI in their jobs. Some executives say they’ve replaced their employees with an AI chatbot, and some professionals say they’ve lost their jobs to tools like ChatGPT.

Artificial intelligence is not a nightmare for all workers. AI optimists say knowing how to use the technology can help employees save time and increase productivity. They may even advance their careers and earn more money.

However, Altman remains concerned about the potential of AI in the job market. He told CNBC last year that ChatGPT “scared him a little,” warning that his company’s creation could “destroy” many jobs.

“I think if I said it wasn’t, you wouldn’t believe me or you’d be very unhappy that I’m working this job,” Altman said.

Axel Springer, the parent company of Business Insider, has reached a global agreement to allow OpenAI to train its models with information from its media.