OpenAI's vampires come to the village gate
Sam Altman 's OpenAI (maker of ChatGPT) sent its 'chief economist' Ronnie Chatterji, formerly of Joe Biden 's economic team. Chatterji obviously knew the country is in the midst of a productivity debate. But his contribution was so unserious, it's almost laughable.

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

AU Financial Review
11 hours ago
- AU Financial Review
Man v machine: equity analysts show AI the upper hand
As the artificial intelligence steamroller starts crushing jobs in banking, insurance and telecommunications, there is one niche area of financial services that looks safe for now – equity analysis. An examination of seminal pieces of research over the past 50 years suggests people doing stock analysis at investment banks, brokers, hedge funds, short sellers, proxy advisers and in journalism can beat OpenAI's ChatGPT.

The Age
11 hours ago
- The Age
Tech lords are promising us utopia. Their brave new world might be a dump
A number of recent humiliating fiascos have reinforced artificial intelligence's growing image as the 21st century reincarnation of Tulip Mania. In July, Elon Musk's chatbot, Grok, was updated and promptly started spewing antisemitic and other toxic content. Earlier this month was the disastrous launch of OpenAI's ChatGPT-5. OpenAI CEO Sam Altman had promised users that it would be like talking to 'a PhD level expert in anything', but within hours of the launch, epic fails started to flood in. One user asked GPT-5 to generate a map of the United States with each state named, which is how we all learned about the great states of Aphadris, Wiscubsjia and Misfrani. It also had problems counting to 12, and referred to President Gearge Washingion. These kinds of inaccuracies are initially hilarious, until we realise we're drowning in a sea of online misinformation and the joke's on us. Nevertheless, we're repeatedly told that the AI spaceship is leaving for a brave new world, so we'd better get on board or risk being left behind. Unfortunately, the people steering the spaceship appear to have lost their moral compass. So where exactly we're headed remains unclear. Loading Australia does not currently have AI-specific legislation. Chair of the Tech Council of Australia, Scott Farquhar, prefers it that way, stating that he doesn't want Australia to be 'hampered by the wrong legislation'. The right legislation, according to the council, is a text and data mining exemption to the Copyright Act, which would allow AI companies to use copyrighted work to train their large language models without seeking consent or paying authors a cent. Their illogical argument is that the work of Australian artists is immeasurably valuable, while simultaneously worth nothing at all. The council's lobbying effort at the Economic Reform Roundtable this week will also push for Australia to build more data centres, the huge energy- and water-guzzling facilities which provide the vast power, storage and cooling requirements that AI requires. Farquhar has repeatedly argued that Australia should become a regional data centre hub, saying: 'I think we are going to have a huge amount of benefits (from AI) and I hope we as a nation set ourselves up to have some of those benefits accrue to Australia.'

Sydney Morning Herald
11 hours ago
- Sydney Morning Herald
Tech lords are promising us utopia. Their brave new world might be a dump
A number of recent humiliating fiascos have reinforced artificial intelligence's growing image as the 21st century reincarnation of Tulip Mania. In July, Elon Musk's chatbot, Grok, was updated and promptly started spewing antisemitic and other toxic content. Earlier this month was the disastrous launch of OpenAI's ChatGPT-5. OpenAI CEO Sam Altman had promised users that it would be like talking to 'a PhD level expert in anything', but within hours of the launch, epic fails started to flood in. One user asked GPT-5 to generate a map of the United States with each state named, which is how we all learned about the great states of Aphadris, Wiscubsjia and Misfrani. It also had problems counting to 12, and referred to President Gearge Washingion. These kinds of inaccuracies are initially hilarious, until we realise we're drowning in a sea of online misinformation and the joke's on us. Nevertheless, we're repeatedly told that the AI spaceship is leaving for a brave new world, so we'd better get on board or risk being left behind. Unfortunately, the people steering the spaceship appear to have lost their moral compass. So where exactly we're headed remains unclear. Loading Australia does not currently have AI-specific legislation. Chair of the Tech Council of Australia, Scott Farquhar, prefers it that way, stating that he doesn't want Australia to be 'hampered by the wrong legislation'. The right legislation, according to the council, is a text and data mining exemption to the Copyright Act, which would allow AI companies to use copyrighted work to train their large language models without seeking consent or paying authors a cent. Their illogical argument is that the work of Australian artists is immeasurably valuable, while simultaneously worth nothing at all. The council's lobbying effort at the Economic Reform Roundtable this week will also push for Australia to build more data centres, the huge energy- and water-guzzling facilities which provide the vast power, storage and cooling requirements that AI requires. Farquhar has repeatedly argued that Australia should become a regional data centre hub, saying: 'I think we are going to have a huge amount of benefits (from AI) and I hope we as a nation set ourselves up to have some of those benefits accrue to Australia.'