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Microsoft and its OpenAI: Should they get back to the drawing board of Chat GPT?

Mihael Ciolacu
Mihael Ciolacu
07 August 2023

Recently, the world's taken an interest in artificial intelligence, and there's no wonder why. It completes tasks quicker than a human could and follows the shortest logical step sequence. That's why it currently powers intelligent home devices, banking processes, social media and even influences recommendations we're getting on video streaming platforms.

However, even though its positives are felt throughout the online world and beyond, AI is also raising questions among authorities concerning the associated risks to users. Such is the case of ChatGPT, currently under the US Federal Trade Commission's scrutiny.  

What is ChatGPT?

ChatGPT is an AI based software program that people worldwide use on a daily basis as a virtual assistant for content creation, computer coding, and much more. It was created by OpenAI, whose majority owner is Microsoft (MSFT) with a 49% stake. ChatGPT hit 100 million active monthly users in January 2023, which made it one of the top growing applications in history.


The Allegations

The US Federal Trade Commission, also known as FTC, investigates if the business uses unfair or misleading tactics that cause "reputational harm" to customers. Just recently, ChatGPT made false claims that accused a US law professor of misconduct towards a student. Furthermore, it's said that the virtual assistant backed up the false statements with a Washington Post article that was ultimately deemed not authentic.

Consequently, a twenty-page letter filled with inquiries has landed on OpenAI’s board of members, bidding, among others, to unearth all complaints they received on ChatGPT making false and harmful accusations. Moreover, the authorities requested records about a security problem that the business announced earlier, in which a flaw in its systems allowed certain users to view data from other users' conversation histories and payment-related information.


OpenAI's response 

The San Francisco-based company will work closely with the FTC to clarify the issue. Considering the recent FTC investigation, OpenAI's CEO, Sam Altman, tweeted, "...[it] is very disappointing to see the FTC's request start with a leak and does not help build trust. [That] said, it's super important to us that [our] technology is safe and pro-consumer, and we are confident we follow the law".

They stated once more that their technology and its safety is of top concern for the company. More so, OpenAI is not at its first quarrel with authorities, as ChatGPT was banned in Italy in March. The ban was lifted a short while after the company made changes to its system that were requested by the Italian authorities.


The Current AI Regulation

Lawmakers are working on regulations defining what AI technology can or cannot do. OpenAI's CEO, Sam Altman, advocates for such guidelines.

In May, he testified in Congress about the need for regulation of the increasingly potent artificial intelligence technologies developed in companies like the one he presides. Google (GOOG), Microsoft (MSFT), and Amazon (AMZN) are just a few names among those creating AI Technology. The consensus is that these AI developers should closely monitor the data fed into these machine-learning models.


Is AI still going forward?

While ChatGPT needs some tweaks here and there to ensure it only outputs correct responses to customers' prompts, it's safe to say that AI technology is still moving forward at an unprecedented pace and is taking the world with it.  

Companies that use Artificial Intelligence are known to gain a competitive advantage in the markets. Their data gets processed much faster once they use machine-learning. Furthermore, this extended computing power allows them to output results which are increasingly tailored to each and every customer, as is the case of Netflix, for example.


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  • There's growing interest for Artificial Intelligence worlwide.
  • ChatGPT is currently under investigation by the FTC for prompting false statements.
  • OpenAI, the company running ChatGPT says will work closely with authorities 
  • OpenAI's CEO advocates for regulatory guidelines on AI software
  • Despite ChatGPT's innacuracy, the AI is still moving forward







Mihael Ciolacu
Mihael Ciolacu

Mihael Ciolacu is an experienced writer focusing on finance and the global markets. His experience extends to investment strategies, economic trends, and financial products, allowing him to craft explicit and informative content. Mihael's ability to distill detailed information into clear and accessible language lends to his knowledge in the finance sector.