OpenAI CEO Sam Altman has confirmed that the company has no plans to go public anytime soon, citing potential conflicts with investor expectations and the need for a unique structure that maintains their capped-profit model. Despite receiving funding from Microsoft, valuing the company at nearly $30bn, Altman expressed concerns about their goals to develop superintelligence and making decisions investors may not approve of.
Originally a non-profit organization, OpenAI transitioned to a hybrid capped-profit model that allows them to raise external funds while still ensuring the original non-profit operation benefits. Altman, who has been meeting with heads of state globally, including the recently proposed AI laws in Europe, has also given insights into the rapid growth of AI technology.
While highlighting potential threats to employment opportunities, Altman also emphasized the crucial role that AI technology plays in creating opportunities. He also acknowledged AI’s potential threat to jobs in sectors such as transport, logistics, office support, administration, production, services, and retail.
As Altman’s global tour continues, he plans to visit Qatar, India, and South Korea next and has highlighted the need for regulation as AI technology continues to grow and evolve. The EU is currently working on laws to govern AI that will require companies such as OpenAI to disclose copyrighted material used to train their systems, which Altman has not disclosed for their latest AI model, GPT 4.
