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SoftBank CEO’s Affinity for ChatGPT Fuels AI Enthusiasm

OpenAI’s CEO tours Asia to discuss AI regulations. In India, he meets PM Modi, emphasizes job losses but also highlights new, unforeseen opportunities in the AI era.

SoftBank CEO's Affinity for ChatGPT Fuels AI Enthusiasm
Image Credit: CNBC

TOKYO, June 20 (Reuters) – Masayoshi Son, the CEO of SoftBank Group (9984.T), recently expressed his strong admiration for ChatGPT. It is an AI-powered chatbot developed by OpenAI, a startup supported by Microsoft (MSFT.O).

Addressing SoftBank’s telecoms subsidiary shareholders, Son enthusiastically stated, “I engage in daily conversations with ChatGPT – I am an avid user.”

While the field of artificial intelligence continues to generate immense excitement, Son has taken a step back from public statements in recent times, focusing on the impending listing of Arm, a chip designer. This strategic shift comes as SoftBank’s technology investment conglomerate faces significant losses due to the declining value of its portfolio.

In addition, Son highlighted his frequent communication with OpenAI CEO Sam Altman, who made notable visits to Tokyo this year. These interactions serve Son’s efforts to leverage the growing interest in generative AI and exert influence over the global regulation of this nascent technology.

SoftBank CEO’s Affinity For ChatGPT Fuels AI Enthusiasm
Image Credit: The Inner Detail

ChatGPT (OpenAI), headquartered in San Francisco, enjoys the support of Microsoft, widely regarded as a frontrunner in AI adoption, as the tech giant pursues numerous AI-related advancements.

Investors eagerly anticipate insights into Son’s investment outlook at SoftBank’s upcoming annual general meeting scheduled for Wednesday, particularly regarding the surging global capital expenditure driven by the growing interest in AI.

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Son has long championed AI (ChatGPT) as the cornerstone of his investment strategy, but he has faced setbacks, such as the well-publicized difficulties encountered by office-sharing firm WeWork and the underperformance of high-growth startups he favors.

OpenAI’s CEO has been touring Asia to engage in discussions with governments and policymakers regarding AI regulations. He recently visited India, where he had a meeting with Prime Minister Narendra Modi to share his perspective on open source, regulation, and the opportunities presented in the era of ChatGPT.

SoftBank CEO’s Affinity For ChatGPT Fuels AI Enthusiasm
Image Credit: ZEE5

During his visit to India, Altman acknowledged that the adoption of AI would result in job losses. However, he also emphasized that AI would create new roles, stating, “Certain jobs will inevitably become obsolete. Yet, in their place, new and improved jobs will emerge, which are currently challenging to envision.

The successful listing of Arm, based in Cambridge, England, would significantly bolster the debt-laden Japanese conglomerate, which saw its long-term credit rating downgraded by S&P Global Ratings last month due to its exposure to unlisted companies.

As experts debate Son’s ability to select winners in an economy expected to be increasingly driven by ChatGPT, SoftBank’s shares have surged by approximately 30% quarter-to-date, fueled by the fervor surrounding chip and AI-related stocks.

In conclusion, Masayoshi Son’s strong affinity for ChatGPT showcases his deep interest in the potential of AI. As SoftBank’s annual general meeting approaches, investors eagerly await insights into Son’s investment strategy, particularly in the context of the growing global interest in AI.

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Check Also: Tesla Reportedly Proposes Setting Up A Factory In India

Written By

Sharmistha is an accomplished content writer, specializing in SEO Content Writing, blogs, and articles. Previously, she worked with India's largest edtech giant and now she is developing her skills in digital marketing across various aspects. With a Master's Degree in Environmental Sciences, she brings a unique perspective to her writing, blending her passion for engaging and informative content creation that captivates audiences. Sharmistha's compelling narrative and profound knowledge make her a versatile writer who easily communicates with readers' diverse minds.

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