OpenAI CEO Sam Altman addressed concerns about the impact of artificial intelligence on global employment during a virtual conference hosted by the Commonwealth Bank of Australia in Sydney on Tuesday. Altman acknowledged that while AI has advanced rapidly, the widespread job losses, particularly in entry-level white-collar roles, have not materialized to the extent he and his team had initially anticipated.

Altman noted that OpenAI’s technological forecasts since the launch of ChatGPT in 2022 have been "roughly right," but he admitted that the social and economic consequences had proven more complex and less severe than expected. “I’m delighted to be wrong about this,” he said, referring to his earlier predictions which anticipated more significant job displacement. He added that although some form of job disruption remains a possibility, the feared global “jobs apocalypse” has not occurred.

He attributed this discrepancy to a better understanding of the roles that require human interaction and emotional intelligence—an aspect of work AI has yet to fully replicate. Altman illustrated this point by describing his own experience using AI to generate responses to Slack and email messages. Although initially efficient, he chose to resume addressing some correspondence personally, emphasizing the intrinsic value people place on genuine human communication.

Altman’s remarks come amid ongoing debates about AI’s influence on the workforce. Several major corporations, including HSBC Holdings, Amazon, Standard Chartered, and Commonwealth Bank of Australia, have publicly announced job reductions partly attributed to AI integration. Despite this, Altman suggested that the employment landscape might evolve differently than early predictions suggested, highlighting the persistence of "the human part" in many jobs that AI cannot easily substitute.

While Altman did not provide specific employment data during the conference, he reiterated previous discussions about potential industry-wide job cuts driven by AI advancements. OpenAI itself is reportedly preparing a confidential filing for a U.S. initial public offering, with speculation of a valuation near US$1 trillion and plans to raise at least US$60 billion.

Altman concluded that although AI's role in industries continues to grow, the nuanced and essential nature of human engagement in work settings may prevent the dramatic job losses some had forecast. He urged continued dialogue about the risks without overstating immediate impacts, underscoring a more measured outlook on AI's social and economic effects.