Sam Altman Rules Out AI Jobs Apocalypse Amidst Rising Big Tech Layoffs
In Focus
- Altman acknowledged that AI has not led to “employment apocalypse” as expected
- He noted that OpenAI’s initial prediction about job losses was wrong
- Altman said AI will unlikely to replace jobs
OpenAI CEO Sam Altman has said that the AI jobs apocalypse he once feared has not happened. Altman was speaking virtually at a Commonwealth Bank of Australia conference in Sydney, Australia. He added that he was glad that his initial prediction was wrong.
What Did Sam Altman Say About AI Jobs?
Commenting on AI employment, Sam Altman admitted that artificial intelligence technologies have not led to the “employment apocalypse” expected following the launch of ChatGPT in 2022. He noted that OpenAI accurately predicted the rapid growth in AI capabilities, but misjudged how fast those advances would affect the wider economy and result in job losses.
“I’m delighted to be wrong about this, I thought there would have been more impact on entry-level white-collar jobs being eliminated by now than has actually happened,” Altman noted in a virtual conversation with CBA CEO, Matt Comyn as per Mint.
The OpenAI CEO noted that while AI is increasingly playing an active role across industries, the human aspect in employment remains relevant. Altman added that he and the executives at OpenAI were wrong about AI’s social and economic implications.
“I now think I understand more about why it hasn’t, and I’m obviously grateful but that is an area where my intuitions were just off,” he added.
Altman was speaking a day after Anthropic co-founder Chris Olah called for greater oversight on AI from governments, civil society, and religious leaders. According to Olah, the possibility of AI job displacement remains real and the technology should not be left entirely to tech companies.
What is the Status of AI-Driven Layoffs?
Sam Altman’s AI comments come at a time when leading tech companies are laying thousands of employees off due to AI adoption. Last week, Meta started laying off close to 8000 employees as it directs investment to AI.
Altman claimed that AI is unlikely to replace jobs when big tech layoffs have hit the 142,000 mark this year alone. Over 138,900 workers in tech companies lost their jobs between January and mid-May this year. That is more than half of the 245,000 people who lost their jobs in 2025.
Layoffs are not happening in the tech industry alone. Global financial companies like HSBC, Standard Chartered, and the CBA have recently announced layoffs. Last week, Standard Chartered PLC experienced backlash after the global bank announced plans to lay off about 7,800 employees as it adopts AI.
“It’s not cost-cutting. It’s replacing in some cases lower-value human capital with the financial capital and the investment capital we’re putting in,” Standard Chartered PLC CEO, Bill Winters said.
What Does Altman Think About Human Interactions?
Although Altman said he had been using AI to respond to email and Slack messages, he added that he has shifted to answering some of them himself. He said that OpenAI cares about interactions with people, which is something that cannot be outsourced to AI. This realization has made him believe that human connections, which are required in most jobs, cannot be replaced by AI.
