OpenAI's Altman says AI unlikely to lead to 'jobs apocalypse'

OpenAI CEO Sam Altman revised his stance on AI’s impact on employment during a virtual appearance at the Commonwealth Bank of Australia (CBA) conference in Sydney on Tuesday. He admitted he initially feared AI would eliminate far more entry-level white-collar jobs than it has, calling his earlier concerns an overestimation. Altman noted that while AI is increasingly integrated into workflows—such as automating Slack and email responses—he personally avoids fully outsourcing such tasks, emphasizing the value of human interaction. Altman clarified that OpenAI’s technological predictions, like those behind ChatGPT’s launch in 2022, were accurate, but the social and economic consequences were misjudged. He described his earlier warnings about job losses as necessary despite potential overblown fears, adding that the reality of AI adoption has been more nuanced. 'I’m delighted to be wrong about this,' he told CBA CEO Matt Comyn, though he acknowledged the risk remains a valid discussion point. While Altman did not provide specific job loss figures, he referenced previous statements about industry-wide AI-driven layoffs. Several global firms, including HSBC, Amazon, Standard Chartered, and CBA, have already announced AI-related job reductions. OpenAI itself is preparing to confidentially file for a U.S. initial public offering, with reports suggesting a potential $1 trillion valuation and a $60 billion raise, according to Reuters. Altman’s shift in perspective stems from observing that AI, despite its advancements, cannot fully replicate human-centric roles. He shared an example of using AI to respond to messages but reverting to manual replies himself, citing the importance of personal connection. This realization led him to conclude that while AI will reshape jobs, a widespread 'jobs apocalypse' is unlikely, contrary to some claims in the tech industry. The conference discussion highlighted a broader tension: AI’s role in displacing tasks versus preserving human-driven work. Altman’s updated view suggests a more gradual, adaptive transition rather than mass unemployment, though he cautioned that concerns about AI’s economic impact remain relevant.