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OpenAI and Port Strike show the opposite AI settings
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OpenAI and Port Strike show the opposite AI settings

Good morning

This week’s events illustrate the stark contrast in attitudes toward AI’s potential. Yesterday, OpenAI raised $6.6 billion from investors including Microsoft, Thrive Capital and SoftBank. This gave the startup behind ChatGPT a valuation of $157 billion and was a clear sign of the excitement among those in the know in the market. A day earlier, 45,000 longshoremen went on strike at 36 U.S. ports, largely to stave off the threat of automation. One group doubles down on their optimism about AI; the other fights against it out of fear.

Settings are subject to change. Two years ago, Sam Altman, CEO of OpenAI, introduced his generative AI chatbot to the public with equal amounts of trepidation and excitement. A year later, he was ousted by the OpenAI board, citing concerns about security protocols and other issues. He was soon reinstated and the board was restructured. Now the company is embarking on its next wave of growth without CTO Mira Murati, who just quit, but Altman is firmly optimistic about the future. In a recent essay, he argued that “in the next few decades, we will be able to do things that would have seemed like magic to our grandparents.”

Harold J. Daggett, president and chief negotiator of the International Longshoremen’s Association, sees a much bleaker future with AI-powered automation. In this interview published by the union, he says, “I’m against automation.” In fact, he has spoken out against the loss of toll booth workers to E-ZPass, an innovation that many drivers welcome. While Daggett argues that longshoremen will win in blocking automation, it’s hard not to think of other industries disrupted by technology and disagree. What they could do is encourage more training and partnerships to help workers adapt to new technologies.

In these early days of AI, many companies are struggling to figure out where best to invest and test new technologies. CEOs report seeing resistance. These and other topics will be discussed at our upcoming Fortune Global Forum in New York on November 11th and 12th. If you would like to register to participate, click on this registration link.

More news below.

Diane Brady
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