OpenAI, the artificial intelligence research laboratory that created ChatGPT, has recently been in the news for the financial struggles it faced in the early stages of its development. In a recent interview with The Wall Street Journal, Sam Altman, CEO of OpenAI, admitted that at one point he even considered issuing a coin to raise development costs.
OpenAI was founded as a non-profit organization in 2015 with the goal of developing artificial intelligence technology in a safe and beneficial way for society. However, the development costs proved to be astronomical, and in 2017 Altman was forced to launch a for-profit corporation to cover the expenses. At the time, Altman even considered receiving government research funds or issuing coins to raise money, but ultimately he had to lay off some staff due to lack of funds.
Altman defined the goal of OpenAI as creating “an order in which machines free people to do more creative things. It also includes the concept of a basic income, in which everyone is provided with an unconditional income. Because AI needs to be compensated for replacing jobs.” Altman’s vision is often described as “social-minded capitalism,” as it emphasizes the public nature of AI and the importance of using technology to benefit society.
While OpenAI’s work has gained widespread popularity and attracted significant investment, there have also been criticisms that the organization is overly focused on commercialization and moving away from its original ideals. Elon Musk, who co-founded the OpenAI Foundation with Altman, has been a vocal critic of the organization’s direction, accusing Altman of commercializing the foundation.
Altman acknowledges the criticism but says he pays attention to what Musk says. To address concerns about commercialization, OpenAI has set a profit limit of 7x to 100x for investors, with all other proceeds going to the foundation. Additionally, the articles of incorporation stipulate that all activities must stop if the most advanced artificial general intelligence (AGI) is created by someone to avoid creating a catastrophic outcome.
To secure funding for OpenAI’s development, Altman had to find a new source of funding. In the summer of 2018, Altman ran into Microsoft’s Satya Nadella at the Sun Valley Conference, a gathering of technology CEOs from around the world. Altman pitched the idea of ChatGPT, and Microsoft eventually made a billion-dollar investment in the organization.
Despite some internal backlash and criticisms from competitors, OpenAI has emerged as the clear leader in the development of AI technology. Since ChatGPT’s release in November 2022, it has gained over 100 million subscribers worldwide, becoming the fastest-growing AI product in history. However, the competition for the commercialization of AI is only getting more intense, with companies like Google and Anthropic also investing heavily in the development of AI technology.
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This article was republished from azcoinnews.com
