WHAT HAPPENS WHEN the unstated Silicon Valley principles to encourage innovation are extended to corporate governance of emerging-tech companies? The recent leadership turmoil at OpenAI-the creators of ChatGPT, the artificial intelligence (AI) system that took the world by storm over a year ago involving its board's abrupt decision to fire star CEO Sam Altman, which was then dramatically followed by his muscular reinstatement within a matter of just days (with the board getting restructured), offers some clues.
Beyond l'affaire Altman's implications for OpenAI, it raises significant questions about the corporate goverance of AI companies that could affect the future of such technologies. OpenAI's legal structure highlights the complexities in balancing public good with commercial considerations in developing foundational technologies. The Altman episode puts the spotlight on the role of corporate governance in AI safety particularly and calls for a more nuanced approach.
OpenAI was founded in 2015 as a not-for-profit with the goal of building safe and beneficial artificial general intelligence (AGI) for the benefit of humanity. In its pursuit to raise $1 billion in donation commitments, OpenAI soon realised the limitations of a not-for-profit structure to fund a highly "capital-intensive" project. To address this, OpenAI set up a for-profit subsidiary fully owned and controlled by the not-for-profit. The for-profit subsidiary limits the maximum financial returns to its investors and employees, with the residual value going to the not-for-profit for creating AGI. The for-profit subsidiary is completely under the control of the not-for-profit and its biggest investor (Microsoft) neither has any board seat nor voting power. To emphasise the
Bu hikaye Financial Express Mumbai dergisinin December 18, 2023 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin December 18, 2023 sayısından alınmıştır.
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