
Sam Altman says smart robots are coming and world is not ready for it
AI has likely started taking over some jobs, something that has potential to transform our lives. But this is just the beginning, or so says OpenAI CEO Sam Altman whose ChatGPT is one key ingredient in this AI disruption. Altman now believes that the world has still not witnessed what smart robots can truly do. In a recent interview with Bloomberg, Altman warned that while most people focus on AI replacing desk jobs, a more significant change is around the corner: humanoid robots that will soon be walking down the street.advertisement"I don't think the world has really had the humanoid robot's moment yet," Altman told Bloomberg. "People may have abstractly thought about AI replacing specific tasks like programming or customer support, but the moment when humanoid robots are a common sight will take people by surprise." Altman went on to say that this moment isn't far off, and it will feel like something out of a sci-fi movie. "You'll be walking down the street, and there'll be seven robots walking past you, doing things. It's gonna feel very sci-fi," he added. Altman emphasises that humanoid robots will change the way people perceive work and technology.
Meanwhile, talking about the current disruption in the job sector, Altman acknowledged that "AI is for sure going to change a lot of jobs." However, he noted that the change will happen in two phases: "AI will totally take some jobs away and create a bunch of new ones," he noted.advertisementAltman believes that this disruption is nothing new, pointing out that technology has always brought significant changes to the workforce. However, he also expressed concern that the world is still not prepared for the scale and immediacy of the upcoming technological shifts, particularly the arrival of humanoid robots in everyday life. The idea of humanoid robots entering the workforce might seem like a far-off dream, but as Altman points out, it is closer than many realise."We've always been transparent about what we think the impact of AI will be, realising we'll likely be wrong about some of the details," Altman admitted.Interestingly, OpenAI is actively working on its humanoid robot project. Earlier this year, OpenAI announced its collaboration with Figure AI, a startup focused on developing humanoid robots. As reported by Business Insider, OpenAI signed a deal with Figure AI earlier this year to accelerate the development of humanoid robots designed to assist in various sectors such as manufacturing, logistics, warehousing, and retail. Figure has already launched its robot, the Figure-01. The company said this humanoid is designed to help solve labour shortages by performing physically demanding jobs. The company also demonstrated the robot operating a coffee machine, a feat which the robot managed to do with the help of AI that learned the task by watching humans. Brett Adcock, Figure's founder and CEO, called the demonstration a milestone in 'end-to-end AI', where a single model learns a complete task autonomously.With advancements in AI and robotics, we could soon find ourselves in a world where robots are not just tools but active participants in daily life. However, Altman warns that the change will come sooner than expected, and the world may not be ready for it. His view is that shift to robots could be more dramatic than anyone anticipates.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Time of India
19 minutes ago
- Time of India
Musk-Trump breakup exposes cracks in Wall Street's meme casino
Live Events Bloomberg You Might Also Like: Musk-Trump breakup puts billions in SpaceX contracts at risk, jolting US space program Bloomberg It took less than a day for the great Donald Trump-Elon Musk split to reshape debates over billionaire power and influence in American another level, the breakup was a reminder of something else: the perils of personality-driven investing, a growing and lucrative business for the Wall Street bankers cranking out, rapid-fire, a never-ending array of new financial products. Few have done more to fuel these gambling spirits than the president and the world's richest a matter of hours, a loosely connected web of Musk-linked trades — and a few tied to Trump — cratered as the public feud escalated. Dogecoin sank 10%; a publicly traded fund dangling SpaceX exploration for retail consumption slid 13%; leveraged bets amping up returns on Musk-related ventures lost a quarter of their value or more. Shares of Trump's media company spat — ignited by the deficit-expanding tax bill threatening Tesla's electric-vehicle subsidies — cooled on Friday and asset valuations steadied. But by then, investors had gotten the message loud and clear. 'You can go from being an incredible beneficiary one moment and then being bludgeoned the next,' said Peter Atwater, founder of Financial Insyghts. 'Anytime you are investing in something that is as crowded as these Elon Musk-related vehicles, you are going to be either the beneficiary or the victim of his standing.'The breakup drama was backdrop to a comparatively sleepy week in regular markets. The S&P 500 ended the week 1.5% higher, while the extended FANG index — which doesn't include Tesla — hit a record. The dollar touched its lowest level in about two years. Ten-year Treasury yields jumped more than 10 basis points this week, as Friday's jobs data eased concerns about an imminent economic for the casino crowd on Thursday, things got ugly. These investors aren't just trading stocks or crypto, they're paying for proximity to dominant personalities. Tesla is a financial avatar for Musk's ambitions. Trump's political resurgence reverberates across his media company, his fast-expanding crypto empire and MAGA-theme products across the broader industry. Each post, endorsement and headline is a chance to pull capital into the retail investment hasn't just drawn in risk junkies — it's built an entire product architecture, from speculative bets to more conventional funds tied to the fortunes of billionaire Musk. Vehicles like Baron Partners Fund and the Ark Innovation ETF got caught up in the selloff before markets rebounded on sharp rout — its worst week since 2023 — was fueled by projections that the company faces a $1 billion hit to full-year profit, if it loses a tax credit from Trump's bill. Meanwhile, the president's businesses pushed deeper into the financial ecosystem. His media company was one step closer to launching the Truth Social Bitcoin ETF, the latest in a string of crypto-linked assets and 'MAGA'-themed investment those with the nerve to dive into the newfangled, the gains have been eye-popping at times. A closed-end fund with Space-X exposure, Destiny Tech100 Inc., surged about 500% in just a month after the Nov. 5 election. Dogecoin went from 15 cents to above 43 cents in November, when Ark surged by 26% in less than two spirits have run high since the pandemic but soared anew after Trump buddied up with Musk on the campaign trail and won the White House, backed by the $250 million the Tesla founder spent on the meme ethos was cemented when Musk's program to cut government spending took its name from a crypto token born as a canine-themed joke.'I put him in the separate category of the Zeus of personality cults, beyond anything that has ever happened,' said Jay Hatfield, CEO of Infrastructure Capital Management. 'We've never had anybody running a major company like him.'The result has been a speculative spasm that, until this week, was often insulated from old-school markets convulsed by Trump's on-again-off-again tariff threats. An element of the craze that infuriates Wall Street's old guard — the near-impossibility of forming a valuation case around things like crypto tokens and public vehicles for private holdings — proved a virtue at a time of rampant economic uncertainty.'Retail traders — the bro trade component of retail — they've never really cared much about fundamentals,' said Dave Mazza, Chief Executive Officer at Roundhill Investments who in February launched a Tesla-focused product. 'These folks really believe in the narrative on stocks like Tesla and Palantir Technologies Inc. Some of these names are really dependent upon a dream premium and not what they actually do for business.'Another case in point: 16% of ETFs launched this year offer single-security strategies that use either leverage or options overlay, according to Bloomberg Intelligence's Athanasios Psarofagis. That's a record. Many target retail investors who trade aggressively, take on higher risk, and use them for dip buying.'The rise of degen leverage and derivative products on the highest profile stocks makes a mockery of the idea that the market is 'allocating capital' in any rational way,' says Dave Nadig, an ETF industry expert. 'It's immensely profitable. That's why very few people are even suggesting there are any issues in ETF land.'
&w=3840&q=100)

Business Standard
40 minutes ago
- Business Standard
Tesla's head of Optimus humanoid robot programme Milan Kovac exits company
Ashok Elluswamy, who leads Tesla's Autopilot teams, will take over responsibility for Optimus after Kovac's departure Bloomberg The leader of Tesla Inc.'s Optimus program is leaving the company, according to a person familiar with the matter, injecting uncertainty into the humanoid robot effort that Chief Executive Officer Elon Musk sees as a significant part of its future business. Milan Kovac, the head of engineering for Optimus, informed colleagues on Friday that he is departing effective immediately, said the person, who asked not to be identified discussing private information. Ashok Elluswamy, who leads Tesla's Autopilot teams, will take over responsibility for Optimus, the person said. Kovac subsequently confirmed his departure on X, calling it 'the most difficult decision' of his life and citing a desire to spend more time with family. 'My support for @elonmusk and the team is ironclad,' he said in the tweet. 'I've got entire faith in them pushing Optimus to the next level, together with the broader Tesla AI / engineering & production teams. My departure now will not change a thing.' Milan, thank you for your outstanding contribution to Tesla over the past decade. It was an honor working with you. Enjoy the time with family. — Elon Musk (@elonmusk) June 6, 2025 Musk praised Kovac and Elluswamy in a June 2 social media post as two 'key people' in the company's artificial intelligence operations who 'have been there from the beginning.' Musk is increasingly betting Tesla's future on robotics, along with artificial intelligence and driverless cars, as the traditional electric-vehicle business faces challenges. The automaker's sales have cratered in key markets due to lukewarm demand and a consumer backlash over the CEO's political activity. This week, Musk's relationship with President Donald Trump erupted into a public feud, raising further risks for Tesla on the regulatory front. Tesla drew attention in October when it used Optimus prototypes to tend bar and interact with guests at a flashy event in the Los Angeles area to generate investor enthusiasm for upcoming products. Bloomberg reported afterward that humans were used to remotely control some capabilities of the robots. Musk has said Optimus, which would handle many household tasks, could be 'the biggest product ever of any kind.' The robots could eventually be available to consumers for $20,000 to $30,000 each, Musk has said. The robot's capabilities have long been closely watched by investors, even if the product's launch timing remains uncertain. Observers noted in 2022 when an early prototype had to be carried by people on stage. Brett Winton, chief futurist of Ark Investment Management, a sizeable investor in Tesla, said the firm doesn't factor Optimus directly into its five-year model for the company currently. It does monitor the robot's developments and the rapid acceleration of the sector and its potential market impact. 'Elon Musk is not an easy person to work for, I think we can all say that with some assurance, and it's because he drives people hard,' Winton said in an interview on Bloomberg Television on Friday after Bloomberg published the report of Kovac's departure. 'He is not satisfied by 'Oh, we'll get this done six months from now. He wants it done within the next 24 hours, and that drives his team into a maniacal sense of urgency, which is what you need when you are trying to make a dent,' Winton added. On the most recent Tesla earnings call, Musk said he expects to have thousands of Optimus robots working in Tesla's own facilities by the end of this year. He also predicted Tesla will be able to build millions of units per year by the end of the decade.


Mint
an hour ago
- Mint
Thames Water Needs £10 Billion Under Elliott, Silver Point Plan
(Bloomberg) -- Funds including Silver Point Capital and Elliott Management are working on a rescue plan for British utility Thames Water that would total more than £10 billion ($13.5 billion), according to people familiar with the matter. The proposal, the main terms of which are similar to the one presented by US alternative investor KKR & Co. before it walked away from its planned investment this week, would involve a sweeping debt restructuring. There would be a multibillion pound haircut for senior creditors, the people said. That would be on top of cuts for the utility's more junior Class B bonds and loans, as well as for debt at the holding level, amounting to approximately £3 billion. The package would also include an equity injection of between £3 billion and £4 billion to stabilize the company's finances. The specific terms of the plan are still being finalized. A spokesperson for the senior creditor group, which includes Silver Point and Elliott, confirmed that it has submitted a detailed long-term turnaround proposal for the company to 'restore its balance sheet, rebuild customer trust and fix the fundamentals of the business.' A spokesperson for Thames Water declined to comment. Thames Water is in a race against time to fix its finances. Britain's largest water and sewage utility is already eating into an emergency loan that it was granted by senior creditors to prevent its cash from drying up, and is scrambling to find fresh equity. The company needs to find a turnaround plan that will reduce its debt pile of nearly £20 billion. Previous shareholders called the company uninvestible, writing off their stakes and leaving it to the creditors. The utility, which supplies about a quarter of the UK's population, came close to running out of money several times before obtaining the emergency loan. The details of the latest proposal, which aims to return the company to investment-grade status, are emerging after Thames Water confirmed it's working with its senior creditors to recapitalize and restore its finances. Regulator Ofwat will need to discuss the details with the creditor group in the coming weeks. The creditors said in a statement this week that the plan is fully-funded. Should the process of raising equity fail, Thames could fall into a special administration regime, or SAR, a temporary state-supervised process akin to insolvency designed for bankrupt businesses that provide critical services. More stories like this are available on