The world urgently needs to regulate artificial intelligence, OpenAI head Sam Altman said Thursday at a summit inNew Delhito address the risks and opportunities posed by the fast-evolving technology.

Altman, CEO of the company behind ChatGPT, has called for global oversight in the past but last year warned that taking too tight an approach could hold the United States back in the AI race.

Frenzied demand for generative AI has turbocharged profits for companies while fuelling anxiety about the impact on society and the planet.

“Centralisation of this technology in one company or country could lead to ruin,” Altman said on Thursday.

“This is not to suggest that we won’t need any regulation or safeguards. We obviously do, urgently, like we have for other powerful technologies.”

The AI Impact Summit is the fourth annual gathering to discuss how to handle advanced computing power.

It is the largest yet and the first in a developing country, with India taking the opportunity to push its ambitions to catch up with the United States and China.

“We must democratise AI. It must become a medium for inclusion and empowerment,” Prime Minister Narendra Modi told the gathering.

“We are entering an era where humans and intelligence systems co-create, co-work and co-evolve,” he said. “We must resolve that AI is used for the global common good.”

Modi’s comments were echoed by UN Secretary-General Antonio Guterres, who said “AI must belong to everyone.”

Source: Insider Paper