Altman Warns of the Socioeconomic Impacts of AI on Society: The Fear and Neglect of Job Losses

During a panel discussion about AI and geopolitics at the Brookings Institute, OpenAI CEO Sam Altman expressed concern about the impact of AI on the labor market rather than the potential spread of AI-generated misinformation affecting elections. Altman emphasized his worries about the speed and magnitude of socioeconomic change that AI advancements could bring and the implications this may have for society.

He noted that discussions about AI’s effect on the economy, such as the possibility of widespread job displacement due to automation, have quieted down this year compared to previous years. However, Altman emphasized the importance of taking these concerns seriously and not dismissing them based on immediate impacts. He expressed a fear that the issue could be overlooked despite its significant implications.

New research has suggested that AI could disrupt the economy, with studies pointing to the possibility of a significant impact on job markets in advanced economies. Automation driven by AI technology could lead to less hiring and lower wages, potentially requiring millions of workers to switch jobs by 2030. Some workers have already experienced job losses or displacement due to AI technology, such as AI chatbots replacing staff in some companies.

While some are optimistic about the potential benefits of AI technology in boosting productivity and improving job prospects, Altman remains concerned about its impact on the labor market. In a previous interview, he expressed fear about the potential negative effects of tools like ChatGPT on job security, cautioning against dismissing the risks associated with AI advancements. Ultimately, Altman’s remarks suggest a need for greater consideration of the socioeconomic implications of AI on society.