OpenAI’s Sam Altman has once again contributed to the ‘AI vs jobs’ debate, siding with the usual notion that AI isn’t eating up your jobs anytime soon. Unlike some of his earlier predictions that warned about AI disruption in jobs, Altman has now backtracked on that front, stating that the rapid advancement in AI will unlikely affect the job market. Altman said that it won’t lead to an immediate ‘employment apocalypse.’
Speaking virtually at a Commonwealth Bank of Australia (CBA) business conference in Sydney, the CEO of one of the world’s most popular AI firms admitted that the mass displacement of white-collar workers he once anticipated has failed to materialise. AI isn’t eating away jobs as he had predicted once.
This marks the first time Altman’s remarks have taken on a notable shift in tonality, considering how he has frequently been at the centre of global debates surrounding AI safety, regulation, and the future of human labour. Following the launch of ChatGPT in late 2022, many tech leaders and economists predicted a swift and disruptive overhaul of the knowledge economy. Back then, many feared that AI tools like ChatGPT would eradicate entry-level corporate positions overnight.
Altman relieved his predictions came wrong
While speaking at the conference, Altman reflected on the years following OpenAI’s initial generative AI breakthrough. He noted that while his team’s technical forecasts regarding AI’s raw capabilities were highly accurate, their socio-economic predictions missed the mark.
“The jobs picture is likely to be very different than we thought,” Altman told CBA Chief Executive Matt Comyn during their digital conversation.
Altman stated that the resilience of the current job market, despite the rise in AI adoption, has come as a surprise. “The fact that our prediction was off actually came as a relief,” Altman stated. “I originally thought entry-level white-collar roles would have been significantly reduced by AI by now, but that hasn’t happened. I am glad to have been wrong about this,” he added.
He acknowledged that human work structures, corporate inertia, and institutional adaptation are far more complex than simple automation models expect.
“I now understand the reasons behind this more clearly, and I’m grateful for it. My intuition on this matter was indeed mistaken,” he added.
Altman wanted to ensure transparency ahead of AI’s commercial expansion
When asked whether his earlier warnings regarding labour displacement caused unnecessary public anxiety, Altman defended his stand. He expressed that the decision to voice those concerns early on was his responsibility to prepare society ahead of the AI revolution.
“Some might say you could have spared people from unnecessary panic and pessimism,” Altman explained. “But at the time, I believed this was a real risk that warranted open discussion—and it could still materialise in the future.”
Although the AI revolution has largely avoided an abrupt structural collapse, the corporate sphere has seen incremental shifts that are quietly reshaping the global workforce. Multinational institutions, including banking giants like HSBC, Standard Chartered, and CBA, alongside tech titans like Amazon, have steadily integrated generative AI tools to optimise internal operations, legal reviews, and customer service functions.
Altman’s comments on the industry-wide labour situation come at a time when OpenAI is rumoured to confidentially file for an IPO offering in the US. Reportedly aiming for a historic $1 trillion valuation, the AI pioneer looks to raise at least $60 billion for establishing its position as a massive global enterprise rather than a research-focused startup.