Speaking at a conference hosted by Commonwealth Bank of Australia in Sydney on Tuesday, Sam Altman said he expected entry-level office jobs to disappear much faster after the launch of ChatGPT in 2022.

Instead, he said the reality has been different because many jobs still depend heavily on human interaction.

“I’m delighted to be wrong about this,” Altman said during a discussion with CBA chief executive Matt Comyn. “I thought there would have been more impact on entry-level white-collar jobs being eliminated by now than has actually happened.”

Altman added that he now understands why the disruption has been slower than expected.

“I now think I understand more about why it hasn’t, and I’m obviously grateful but that is an area where my intuitions were just off,” he said.

The OpenAI boss explained that while AI tools can handle technical tasks, many people still prefer dealing with humans directly. He said he once experimented with using AI to reply to Slack and email messages but later returned to answering some personally.

“We really do care about people,” Altman said. “We really do care about our interactions with people.”

That experience, he said, changed how he thinks about the future of work and the role AI will play inside companies.

“I don’t think we’re going to have the kind of jobs apocalypse that some of the companies in our space advocate or talk about,” he said.

Even so, several large companies have already linked job cuts and restructuring to AI adoption. Firms including HSBC, Amazon, Standard Chartered and Commonwealth Bank of Australia have said automation and AI tools are changing staffing needs in some departments.

Matt Comyn said AI would likely lead to smaller teams in some parts of the economy, although workers may also progress faster as technology handles routine tasks.

CBA has been investing heavily in AI and staff training as banks prepare for wider adoption of the technology. According to the bank, it plans to spend about A$90 million on reskilling programmes while annual technology investment has reached A$2.4 billion.

Altman also said AI technology is advancing faster than many businesses and institutions can absorb. While AI tools have improved rapidly, he believes enterprise adoption is still at an early stage.

He said OpenAI had been “roughly right” about the pace of technological development but “pretty wrong” about the social and economic consequences.

The remarks come as OpenAI prepares for a possible stock market listing in the United States. Reuters reported last week that the company plans to confidentially file for an initial public offering in the coming weeks.

The report said OpenAI could seek a valuation of about $1 trillion and raise at least $60 billion, which would place it among the world’s most valuable technology companies.

The company announced the move on Wednesday during the ATx Summit in Singapore, where it also launched “OpenAI for Singapore”, a partnership with the country’s Ministry of Digital Development and Information (MDDI).

Under the initiative, OpenAI said it will commit more than S$300 million to Singapore and create about 200 technical roles over the next few years.

The company added that Singapore will become one of its global bases for Forward-Deployed Engineers, teams that work directly with businesses and public institutions to deploy AI systems.

The new lab will support projects tied to Singapore’s national AI priorities, especially in public services, healthcare, finance and digital infrastructure.

Denise Dresser, chief revenue officer at OpenAI, said the company sees Singapore as a key market because of its technical talent and long-term AI ambitions.

“We’re excited to partner with Singapore as it builds on its position as a global leader in AI,” she said.

“Singapore has strong technical talent, trusted institutions, and a clear ambition to use AI to drive long-term growth and improve people’s lives.”

She added: “Through OpenAI for Singapore, we want to help more organisations benefit from frontier AI, support the next generation of local AI talent, and widen access to these tools across the country.”

Singapore has spent the past few years positioning itself as a neutral and trusted centre for AI development in Asia. The government has steadily increased spending on AI research and infrastructure while encouraging global technology firms to expand operations in the country.

Authorities earlier pledged S$1 billion between 2025 and 2030 to strengthen public AI research capabilities. Tech giants including Google, Nvidia, AWS and Microsoft have also announced AI-related investments and partnerships in Singapore.

Alongside the OpenAI AI Lab deal, Singapore recently unveiled a National AI Partnership with Google focused on education, healthcare and enterprise innovation. Nvidia is also establishing a new AI research lab in the country to work with universities and government agencies.

The partnership with OpenAI will also include education and workforce programmes. OpenAI said it plans to work with Singapore’s Ministry of Education and GovTech on AI-powered learning tools, including support for Mother Tongue language learning.

The company will also launch a Singapore chapter of the OpenAI Academy, organise Codex hackathons for teachers and introduce a training programme for Forward-Deployed Engineers.

Singapore’s Permanent Secretary for Digital Development and Information, Chng Kai Fong, said the partnership shows the government’s drive to prepare its workforce and economy for AI adoption.

“With AI reshaping economies, businesses and the workforce, Singapore’s response has been deliberate: growing new sectors, anchoring global frontier companies here, and equipping our people with the skills to thrive in this new environment,” he said.

“This partnership with OpenAI reflects the Government’s commitment to developing Singapore’s AI capabilities, strengthening enterprise adoption of AI, and securing good jobs for Singaporeans.”

OpenAI said it also plans to support smaller businesses and startups through workshops, accelerator programmes and practical AI adoption initiatives.

Countries are currently competing to attract AI investment, talent and infrastructure. Singapore is not left out, standing alongside hubs such as London, Dubai and Silicon Valley to lead AI development.

Recent data from Slack’s Workforce Index showed that about 52% of workers in Singapore already use AI tools in their jobs, underlining how quickly adoption is spreading across the country’s economy.

This expands British AI infrastructure, and drives collaboration on security research.

Technology Secretary Peter Kyle said, “AI will be fundamental in driving the change we need to see across the country – whether that’s in fixing the NHS, breaking down barriers to opportunity or driving economic growth. This can’t be achieved without companies like OpenAI, who are driving this revolution forward internationally. This partnership will see more of their work taking place in the UK.”

Central to the partnership is the government’s £1 billion investment plan aimed at scaling Britain’s public compute capacity twenty-fold over the next five years. This infrastructure growth is expected to support the development of sovereign AI technologies and national data centres, essential to the UK’s vision of AI self-sufficiency.

OpenAI, whose London office has grown to over 100 researchers and engineers since opening in 2023, is expected to expand its presence in the country further. According to the company, Britain ranks among its top three global markets for paid subscribers and API developers. 

Sam Altman, OpenAI’s CEO, described AI as “a core technology for nation building that will transform economies and deliver growth.” He added, “Britain has a strong legacy of scientific leadership and its Government was one of the first to recognise the potential of AI through its AI Opportunities Action Plan. Now, it’s time to deliver on the plan’s goals by turning ambition to action and delivering prosperity for all.”

The AI Opportunities Action Plan, launched in January 2025, includes 50 recommendations aimed at transforming the UK’s technological sector.

Key areas of focus include developing sovereign AI infrastructure like data centres and compute clusters, transforming public services in healthcare, justice, and education, and creating regional AI Growth Zones in Scotland and Wales. These zones are expected to drive innovation, create jobs, and attract private investment.

OpenAI’s technologies are already embedded in various UK government tools. Its GPT-powered chatbot helps small businesses navigate regulatory frameworks on GOV.UK, while ‘Humphrey’, Whitehall’s internal AI assistant, accelerates administrative tasks.

Another tool, ‘Consult’, leverages AI to sort public consultation responses in minutes, a process that typically takes civil servants weeks.

Beyond public services, the partnership will explore AI applications in areas like justice (automating legal triage and appeals), defence (cyber intelligence and threat detection), and education (developing personalised AI tutors for STEM subjects).

Discussions also include expanding OpenAI’s work with the UK’s AI Security Institute to develop advanced security research collaborations and a new technical information-sharing programme.

The Labour Government, facing sluggish economic growth and high political pressure, sees AI as an essential driver for reversing its economic fortunes. Officials estimate that AI adoption could lift UK productivity by 1.5% annually, injecting an additional £47 billion into the economy every year over the next decade.

OpenAI’s expansion is expected to generate high-paying tech jobs and attract billions in foreign investment, enhancing the UK’s competitive edge in AI.

With the United States, China, and India advancing rapidly, British policymakers believe that securing partnerships with AI leaders like OpenAI is important to safeguarding national interests and economic growth.