Rethinking Capitalism and Interest Rates
Discussing the long-term effects of AGI, Altman envisioned scenarios where interest rates could fall into negative territory, potentially around –2%, reflecting a world with an abundance of resources. He also speculated on the potential for short-lived economic anomalies before reaching a new equilibrium. Such a transitional period, he said, could see humanity take on massive projects, from advanced infrastructure to civilisation-scale engineering.
Kamath questioned whether AGI could create extreme corporate concentration, with one company controlling much of the global economy. Altman dismissed this as unlikely, comparing AI’s adoption to the transistor — a breakthrough that became widely distributed across industries. Still, he noted that if such dominance did emerge, societal pressure would likely push back.
Social Shifts in an AI-Driven World
Altman expressed hope that greater abundance would allow people to refocus on family and community, which he feels have been eroded in recent decades. While Kamath observed that human desires are often shaped by competition and status, Altman agreed that people will continue to find new ambitions even in a post-scarcity world.The OpenAI chief also acknowledged uncertainty about AGI’s exact economic effects, describing the outlook as both promising and unpredictable. While deflation could be a long-term trend, he warned that the transition might be unusual, with periods where capital and computing resources are especially valuable.
India’s Role in the AI Future
Altman praised India’s rapid embrace of AI, calling it the company’s second-largest market and potentially its largest in the near future. He sees the country not only as a major consumer of AI but also as a future hub for developing globally competitive AI tools and platforms.The discussion reflected Altman’s broader view that AGI will not only transform technology but also reshape economics, work, and society.