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Testifying before Congress on May 16, OpenAI chief executive Sam Altman said it was time for regulators to start setting limits on powerful AI systems. “As this technology advances, we understand that people are anxious about how it could change the way we live. We are too,” Altman told a Senate committee. “If this technology goes wrong, it can go quite wrong,” he said, claiming it could do “significant harm to the world.” He agreed with lawmakers that government oversight will be critical to mitigating the risks.

A topic barely on lawmakers’ radars a year ago, governments around the globe are now fiercely debating the pros and cons of regulating or even prohibiting some uses of artificial intelligence technologies. The question business leaders should be focused on at this moment, however, is not how or even when AI will be regulated, but by whom. Whether Congress, the European Commission, China, or even U.S. states or courts take the lead will determine both the speed and trajectory of AI’s transformation of the global economy, potentially protecting some industries or limiting the ability of all companies to use the technology to interact directly with consumers.

Since the November 2022 release of OpenAI’s ChatGPT, its generative AI chatbot built on a self-improving large language model neural network (LLM), use of generative AI has exploded. According to data compiled by Statista, ChatGPT reached one million users in five days, blowing away previously warp-speed internet product introductions including Facebook, Spotify, and Netflix. Midjourney and DALL-E, LLMs that create custom illustrations based on user input, have likewise exploded in popularity, generating millions of images every day. Generative AI certainly meets the criteria for what one of us previously co-defined as a “Big Bang Disruptor”: a new technology that, from the moment of release, offers users an experience that is both better and cheaper than those with which it competes.

Such a remarkable take-up is naturally cause for excitement, and, for incumbent businesses, alarm. The potential for LLMs seems limitless, perhaps revolutionizing everything from search to content generation, customer service to education, and well, you name it. Unlike more targeted Big Bang Disruptions, ChatGPT and other LLMs are uber-disruptors, breaking longstanding rules not just in one industry, but in all of them. At the same time.

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Marcos Osorio/Stocksy

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