OpenAI: Sam Altman Says 'Want To Build Brain For The World' In ...
OpenAI recently announced a significant update to its organisational structure on May 5th. The US artificial intelligence giant disclosed that its for-profit arm will be transitioning into a Public Benefit Corporation (PBC). Initially established as a non-profit entity, OpenAI will continue to be overseen by the parent company but with this restructuring, its for-profit division, operating as an LLC since 2019, will now function as a PBC.
CEO Sam Altman clarified that this transition does not entail a sale but rather a simplification of the existing structure. Under the new arrangement, OpenAI is moving from its intricate capped-profit model to a more conventional capital structure with shared stock. The non-profit entity will still maintain control and hold a substantial stake in the PBC, providing it with enhanced access to resources.
Key Aspects of the Restructuring:
- OpenAI will remain under the governance of the current non-profit organisation.
- The current for-profit division will transform into a Public Benefit Corporation.
- The non-profit entity will retain control and possess a significant ownership stake in the PBC.
- Both the non-profit and the PBC will uphold the same mission.
Addressing the company's vision, Altman stressed that OpenAI is not a conventional enterprise and has a broader objective of creating "a brain for the world" that is easily accessible to all individuals. He highlighted the initial concerns regarding the responsible handling of AI and the concept of restricting its access to a select few.
Emphasising the commitment to developing democratic artificial intelligence, Altman expressed confidence in humanity's ability to leverage AI for positive outcomes on a massive scale. Despite the prevalent utilization of ChatGPT models across various applications, he acknowledged the current limitations and the escalating demand for AI resources.
Altman underscored the necessity for substantial financial investments amounting to hundreds of billions, potentially even trillions of dollars, to facilitate widespread access to AI technologies. Consequently, OpenAI has restructured its operational and fundraising strategies to align with this ambitious goal.
