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Sam Altman, the CEO of OpenAI, the company behind ChatGPT, testified before a US Senate committee on Tuesday about the possibilities and pitfalls of the new technology.
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Altman said a new agency should be formed to license AI companies and several regulations must be imposed for safer usage.
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Altman suggested that the United States should take into account enacting licensing and testing standards for the creation of AI models as a standard procedure.
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Altman cited models' capacity to influence or convince a person's opinions as a crucial threshold when asked to describe which categories of AI should be subject to licensing.
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He also admitted the impact that AI could have on the economy, including the likelihood that AI technology could replace some jobs, leading to layoffs in certain fields.
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Altman told legislators he was worried about the potential impact on democracy, and how AI could be used to send targeted misinformation during elections.
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"We need to maximize the good over the bad. Congress has a choice now. We had the same choice when we faced social media. We failed to seize that moment," he warned.
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He also said firms like OpenAI should be independently audited.
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