OpenAI has hired Aaron “Ronnie” Chatterji as its new chief economist.
Chatterji, a professor at Duke University’s Fuqua School of Business, previously held influential roles in two Democratic administrations. He served in President Barack Obama’s Council of Economic Advisers and most recently as the chief economist at the Commerce Department under President Biden.
What This Hire Means for OpenAI
The addition of a chief economist signals OpenAI’s ambition to become a significant player not just in technology but also in economic and policy discussions.
Historically, Silicon Valley giants like Google and Facebook brought seasoned economists on board early in their growth stages.
For instance, Google hired Hal Varian from the University of California, Berkeley, in 2002 to shape the company’s ad auctions and guide strategic decisions.
Similarly, Chatterji’s expertise is expected to help OpenAI as it grapples with the economic implications of artificial intelligence.
Lawrence Summers, former Treasury Secretary and one of OpenAI’s recently appointed board members, said:
“Professor Chatterji’s deep understanding of the dynamics that shape our economy and society will guide OpenAI’s mission to create A.I. tools that fuel growth, solve complex challenges, and foster long-term prosperity.”
Responsibilities and Strategic Focus
Chatterji’s appointment comes as OpenAI aims to expand its partnerships and investments with governments, investors, and chipmakers. During his stint at the White House, Chatterji played a key role in coordinating the implementation of the CHIPS and Science Act, a $280 billion initiative aimed at bolstering computer chip manufacturing in the US.
His background in policy and economic development could be vital for OpenAI, as it looks to scale up its computing infrastructure to support AI training. Chatterji also brings a nuanced understanding of the broader economic impacts of AI.
A recent paper by OpenAI estimated 80 percent of the US workforce could have at least 10 percent of their job tasks affected by AI technologies, with 19 percent potentially seeing over half of their tasks impacted.
This disruptive potential underscores the importance of navigating the AI landscape with an eye toward equity and sustainable growth.
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OpenAI’s Ambitions and High-Profile Appointments
Chatterji’s hiring is just the latest in a string of high-profile moves by OpenAI, which aims to build AI systems capable of transforming industries like office work, scientific research, and more.
In addition to Chatterji, the company recently appointed Chris Lehane, a Clinton White House veteran, as its Vice President of Global Affairs.
OpenAI has also added seven board members, including Paul M. Nakasone, a four-star Army general and former NSA head, further solidifying its influence in tech, policy, and security circles.
OpenAI’s executives acknowledge that the deployment of their technologies could lead to workforce disruptions and are working to ensure that these changes lead to inclusive growth.
In an interview, Chatterji stressed the need for substantial investment from both the public and private sectors to build infrastructure, keeping the U.S. competitive in the AI arena.
The Economic and Social Implications of AI
Erik Brynjolfsson, Director of the Stanford Digital Economy Lab, highlighted the importance of an economist’s role in AI development, noting that AI technologies could potentially exacerbate economic inequalities.
He said:
“We have to make sure we develop these technologies in a way that the benefits are distributed evenly and don’t create the divides that we have seen with previous generations of technology,” emphasizing his commitment to OpenAI’s mission of equitable growth.”
As OpenAI moves forward, Chatterji’s role will be crucial in helping the company understand the economic landscape, drive strategic decisions, and shape policies that promote responsible AI development.
With the backing of experienced economists, OpenAI is making clear its ambition to not just lead in AI innovation but also shape the global economic future.
