OpenAI, a start-up created in 2015 and backed by Silicon Valley luminary Sam Altman, has recently raised $175 million for a startup investment fund amid concerns over newly proposed European rules on AI. Through its AI-powered chatbot ChatGPT, OpenAI provides a platform for users to interact with machines. The European Union AI Act aims to set up a regulatory framework that classifies AI tools according to risk levels and accordingly obtains obligations from governments as well as companies. This act has been in progress for years but still awaits modifications from lawmakers.
OpenAI has openly and publicly expressed its disagreements with the highly draft of the EU AI Act as it believes it’s too restraining and regulating. Without an agreement or major revisions to the proposed legislation, OpenAI has threatened to potentially distance itself from the European market, causing major disruptions in the AI landscape.
Sam Altman, CEO of OpenAI, is dedicated to driving the boundaries of AI’s positive impact on society and strongly believes that the impact of a more regulated ecosystem cannot be expected in the near future. The $100 million from the investment fund raised by OpenAI will focus on facilitating the growth of AI startups that support Altman’s beliefs.
OpenAI is a research laboratory specialized in developing artificial intelligence technology with a focus on deep learning, reinforcement learning, unsupervised learning, and natural language processing. Founded in 2015, it is supported and backed by technology luminaries, including Elon Musk and Peter Thiel. OpenAI seeks to ensure that its technology has a positive societal impact and provide tools and services to help humanity benefit from AI.
Sam Altman is an American entrepreneur, investor and businessman, and the current CEO of OpenAI. He previously served as the president of Y Combinator, a seed accelerator program based in Mountain View, California. Sam is a well-known figure in the tech industry and is considered a driving force behind many groundbreaking advances with AI. He is an avid supporter of technology that has a positive and far-reaching positive impact on society.
