OpenAI chief executive Sam Altman is walking back on the AI jobs displacement narrative, noting that the tech is not as sophisticated as his previous comments suggested.
The News
In a new CNBC interview, Altman says that his earlier statement that GPT-4.2 could already outperform humans across 44 occupations is not 100% accurate.
According to Altman, the statement was made out of an abundance of caution.
“What I wish we had said then is that it outperforms professionals at small tasks in 44 occupations, which is, I think, a more accurate thing. And it is the people who are using these that are now seeing incredible productivity growth, wage growth, all of the benefits from this. But I think people are right to be anxious, and I understand it. This is not even a technological shift that happens every generation. This is one of the big ones… And so it would be imprudent not to have some real caution around that.”
Altman’s statement comes as analysts and experts warn that AI and Big Tech are now in the midst of a public relations crisis. Last month, tech bull Dan Ives said Big Tech has created a self-inflicted crisis with its jobs intermediation narrative. Ives noted that the PR problem is a bigger threat than China in the race for global AI dominance.
What It Means for Investors
The massive AI job displacement narrative began in 2025, when Anthropic CEO Dario Amodei predicted that the technology would wipe out half of white-collar, entry-level jobs in just a few years. The narrative gained steam earlier this year as companies like Jack Dorsey’s Block (XYZ) laid off workers after adopting intelligence tools, triggering a 20% rally in the XYZ stock following the announcement.
In March, billionaire Chamath Palihapitiya said Big Tech has created a “fundraising gobbledygook,” implying that AI labs like OpenAI and Anthropic are spewing job-displacement narratives to demonstrate their models’ capabilities in an effort to attract funding from private investors.
OpenAI and Anthropic are both private firms that rely on investor funding to sustain research and operations. Neither is profitable despite raking in billions of dollars in revenue.
Altman’s latest statement appears to be a big pivot as both Anthropic and OpenAI gear up for blockbuster IPOs this year. Both companies are looking to raise at least $50 billion in the stock market, where retail participants accounted for $5.4 trillion in trading volume last year. These are the same retail investors who have been feeling the threat of an AI jobs apocalypse in the last few months.
For OpenAI and Anthropic, a less-than-stellar stock market debut could pose a serious threat to their AI ambitions. The shift in messaging appears to align with the timing of their expected IPOs this year.
Disclaimer: Opinions expressed at CapitalAI Daily are not investment advice. Investors should do their own due diligence before making any decisions involving securities, cryptocurrencies, or digital assets. Your transfers and trades are at your own risk, and any losses you may incur are your responsibility. CapitalAI Daily does not recommend the buying or selling of any assets, nor is CapitalAI Daily an investment advisor. See our Editorial Standards and Terms of Use.