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Sam Altman and Amodei Reassess the Impact of AI on Employment

💼 Business & Startups·Tom Levy·

Sam Altman and Amodei Reassess the Impact of AI on Employment

Sam Altman and Amodei Reassess the Impact of AI on Employment
Key Takeaways
1Sam Altman, CEO of OpenAI, admits to having overestimated the immediate impact of AI on entry-level office jobs.
2Dario Amodei of Anthropic now sees automation as a way to multiply productivity rather than a direct threat to employment.
3IPOs for OpenAI and Anthropic are on the horizon, with potential valuations in the billions of dollars.
💡Why it mattersThese revisions influence investors' and workers' perceptions of the future of the job market in the face of AI.
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Full Analysis

The economic magazine Fortune recently highlighted the shift in rhetoric from Sam Altman, CEO of OpenAI, and Dario Amodei, CEO of Anthropic, regarding the impact of artificial intelligence on employment. These adjustments come as their companies prepare for multi-billion dollar IPOs.

In an interview with Matt Comyn, CEO of Commonwealth Bank, Sam Altman expressed his surprise at the lesser-than-expected impact of AI on entry-level office jobs. He stated, "I thought there would be more impact on entry-level office jobs that would be eliminated by now than what has actually happened." He added, "I’m happy to be wrong about this." Last June, Altman had warned that entire categories of jobs could disappear.

Dario Amodei, who had previously claimed that half of office jobs were at risk, is now presenting automation as a productivity multiplier. He said, "If you automate 90% of the work, then everyone does the remaining 10%" - which then adds up to 100% and increases productivity tenfold.

The Yale Budget Lab has not observed significant changes in the jobs most exposed to AI so far. A separate study indicates that the employment crisis among programmers, writers, and other workers exposed to AI began before the launch of ChatGPT. This calls into question simplistic narratives of an impending job apocalypse caused by AI.

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