OpenAI chief executive Sam Altman speaks before a Senate subcommittee in Washington. Reuters
OpenAI chief executive Sam Altman speaks before a Senate subcommittee in Washington. Reuters
OpenAI chief executive Sam Altman speaks before a Senate subcommittee in Washington. Reuters
OpenAI chief executive Sam Altman speaks before a Senate subcommittee in Washington. Reuters

OpenAI CEO Sam Altman tells US Senate that AI regulation is 'critical'


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Sam Altman, chief executive of OpenAI – the start-up behind ChatGPT – told a US Senate panel on Tuesday that regulating artificial intelligence was “critical”.

He urged Congress to impose new rules on Big Tech, despite deep political divisions that for years have blocked legislation aimed at regulating the internet.

For months, companies large and small have raced to bring increasingly dexterous AI to market, throwing endless data and billions of dollars at the challenge.

Some critics fear the technology will exacerbate societal harms, among them prejudice and misinformation, while others warn AI could end humanity itself.

Mr Altman has since become the global face of AI as he both pushes out his company's technology, including to Microsoft, and warns that the work could have nefarious effects on society.

“OpenAI was founded on the belief that artificial intelligence has the potential to improve nearly every aspect of our lives, but also that it creates serious risks,” Mr Altman told the Senate judiciary subcommittee hearing.

He insisted that in time, generative AI developed by OpenAI one day will “address some of humanity's biggest challenges, like climate change and curing cancer”.

However, given the risk of misinformation, destroying human jobs and other problems, “we think that regulatory intervention by governments will be critical to mitigate the risks of increasingly powerful models”, he said.

Mr Altman suggested the US government might consider a combination of licensing and testing requirements before the release of powerful AI models.

In addition, he said that the use of AI to interfere with election integrity was a “significant area of concern”.

“I think we also need rules, guidelines, on what’s expected in terms of disclosure from a company providing a model,” Mr Altman said about elections and AI.

“I am nervous about it.”

He also recommended labelling and increased global co-ordination in setting up rules over the technology.

“I think the US should lead here and do things first, but to be effective we do need something global,” he said.

Congress, likewise, is seeking action to further the technology's benefits while limiting its misuse, but there is as yet no consensus.

An OpenAI staffer recently proposed the creation of a US licensing agency for AI, which could be called the Office for AI Safety and Infrastructure Security, or Oasis, Reuters reported.

Subcommittee chairman Richard Blumenthal opened the session by playing a recording of a convincing AI version of himself reading out remarks crafted by ChatGPT.

Artificial intelligence technologies “are more than just research experiments”, he said.

“They are no longer fantasies of science fiction – they are real and present.”

He said it was amazing that artificial intelligence could produce such a realistic audio clip, but clarified the potential applications were potentially terrifying.

“What if I’d asked it, and what if it had provided an endorsement of Ukraine surrendering or [Russian President] Vladimir Putin’s leadership?” Mr Blumenthal suggested.

“The prospect is scary.”

Agencies contributed to this report

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.

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'Worse than a prison sentence'

Marie Byrne, a counsellor who volunteers at the UAE government's mental health crisis helpline, said the ordeal the crew had been through would take time to overcome.

“It was worse than a prison sentence, where at least someone can deal with a set amount of time incarcerated," she said.

“They were living in perpetual mystery as to how their futures would pan out, and what that would be.

“Because of coronavirus, the world is very different now to the one they left, that will also have an impact.

“It will not fully register until they are on dry land. Some have not seen their young children grow up while others will have to rebuild relationships.

“It will be a challenge mentally, and to find other work to support their families as they have been out of circulation for so long. Hopefully they will get the care they need when they get home.”

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What are the awards? They honour anyone who has made a contribution to life in Abu Dhabi.

Are they open to only Emiratis? The awards are open to anyone, regardless of age or nationality, living anywhere in the world.

When do nominations close? The process concludes on December 31.

How do I nominate someone? Through the website.

When is the ceremony? The awards event will take place early next year.

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Updated: May 17, 2023, 6:28 AM