Too much frenzy around AI in the short term: Sam Altman

Synopsis Altman added that investors are unable to calculate the worth of companies building AI products in the short term. “But in the long term, it is highly underhyped,” he said. ETtech Donning his investor hat, the former president of famed startup accelerator Y Combinator and OpenAI chief executive Sam Altman said, “There is too much frenzy around AI in the short term’’.

Altman was speaking at the ‘ET Conversations’ event in New Delhi. Altman added that investors are unable to calculate the worth of companies building AI products in the short term. “But in the long term, it is highly underhyped,” he said.

The OpenAI chief also said that “this is the most exciting time to start a company since the dawn of the internet’’. ET reported on May 11 that some venture capital firms focused on the deep tech sector are scouting for startups with proprietary training models, while others are evaluating investments in the applied-AI space, where companies build on top of large language models like the generative pre-trained transformer. Asked about adoption of AI leading to job losses, Altman said, “some jobs are going to go away.

But there will be new and better jobs that are difficult to imagine’’. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories However, he pointed out that the speed of change of the job landscape might be different this time. “What might be different is the speed at which this could happen, and that would require a change to the socioeconomic contract and the way governments think about this’’.

Altman also feels there shouldn’t be any AI-related regulations on smaller startups in the field of artificial intelligence. “We have explicitly said there should be no regulation on smaller companies. The only regulation we have called for is on ourselves and people bigger’’, he said.

Speaking with Times Internet vice chairman Satyan Gajwani , Altman also called for more nuance in conversations around AI regulation. “There needs to be regulation around the more powerful models. But there has to be enough nuance in the conversation,” he added.

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