OpenAI CTO Says Generative AI’s Economic Impact Only Starting

May 30, 2024

24 1 minute read

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(Bloomberg) — Generative artificial intelligence is only just starting to make its economic impact felt, OpenAI Inc. Chief Technology Officer Mira Murati said.

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OpenAI’s latest GPT-4o model, which helps users generate content such as text, presentations and videos, is becoming more intuitive to use and that’s spurring its adoption, Murati told Singapore’s Asia Tech X conference via video on Thursday. People are increasingly using AI tools for tasks such as coding, writing and administrative work, she said.

“We don’t quite realize the impact that this is going to have in businesses and at work because it is just starting,” she said. “But what we’ve seen so far is that over a very short amount of time, these AI systems have entered the workforce as collaborators.”

OpenAI faces intensifying competition from rivals such as Alphabet Inc.’s Google, Facebook parent Meta Platforms Inc., startup Anthropic and Elon Musk’s xAI. OpenAI earlier this month released the GPT-4o chatbot, which Murati touted as the future of interaction between people and machines.

“AI development is extremely competitive right now,” Murati said. Competition “can actually be really good as long as it’s a competition to the top on safety and people don’t cut corners.”