The CEO of OpenAI, Sam Altman, stressed the significance of regulating AI while acknowledging the potential for errors in its execution. Altman endorsed the necessity of regulation, especially for highly potent AI systems, but also voiced apprehensions regarding both excessive regulation and inadequate oversight, underscoring the obligation to govern AI systems possessing capabilities well beyond current models. Altman also touched upon the tech industry's inclination to resist regulation and emphasised that, despite its shortcomings, regulation plays a crucial role in ensuring safety and standards, akin to the aviation sector's safety protocols. Ultimately, Altman asserted that while regulation may have imperfections, fearing it is counterproductive; instead, some form of regulation is indispensable for responsibly managing the complexities of AI.

Why does this matter?

Sam Altman, CEO of OpenAI, has been a vocal advocate for global AI regulation. However, recent reports suggest that OpenAI has lobbied to modify the EU's AI Act to lessen regulatory demands on the company. This development occurs in a climate of rising global concerns about the rapid progress of AI, with many nations actively crafting AI regulatory frameworks that may affect the operations of major tech companies. While the input of companies like OpenAI should inform future AI regulations, it must not hinder efforts to ensure the protection of fundamental rights through effective regulation.