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Tuesday, May 16, 2023

The Daily Money: AI trouble? OpenAI CEO testifies before Congress

In his first appearance before Congress, OpenAI CEO Sam Altman said his worst fear is that AI could cause "significant harm to the world."
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The Daily Money

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Tue May 16 2023

 

In his first appearance before Congress, Sam Altman, the CEO of ChatGPT maker OpenAI, said his worst fear is that artificial intelligence technologies could cause "significant harm to the world."

"If this technology goes wrong, it can go quite wrong," he testified in front of a Senate Judiciary Committee panel.

Altman also said government regulation of AI is critical "to mitigate the risks of increasingly powerful models."

Fears about artificial intelligence and the push for tighter controls appeared to be bipartisan.

The Biden administration has convened officials from the top companies including OpenAI, Microsoft and Google and launched an initiative to audit AI technologies.

Sen. Lindsey O. Graham, R-S.C., called for a new government agency to license businesses building AI, saying it would give AI companies incentives to "do it right."

The new wave of AI tools has dazzled Americans, promising a bevy of benefits. They can carry on human-like conversations, write essays, compose music and create audio, video and images. But these tools also have worrying implications for the future of work and education as well as the future of humanity.

Americans are alarmed, too. A new survey from ADL found that Americans worry that AI will be used to worsen social ills, from fraud and identity theft to extremism and hate.

Microsoft CEO Satya Nadella says AI is moving fast but in the right direction.

"We're moving from the auto-pilot era of AI to co-pilot era of AI. Yes, it's moving fast, but in the right direction," Nadella said in an interview airing Monday night on Special Edition with Andrew Ross Sorkin on NBC News NOW. "Moving fast where humans are more in control. Humans are in the loop, versus being out of the loop."

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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impact you.

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