AI offers the world "tremendous benefit" but it could also "go very wrong," Anadolu Agency reports citing CEO of artificial intelligence (AI) company OpenAI Sam Altman.

Speaking on a panel at the World Economic Forum in Davos, Sam Altman compared the developments in the field of AI with other major technological revolutions and said it would "have massive effects on the world."

"I believe, and I think the world now believes, that the benefit here is so tremendous that we should go do this. But it is on us to figure out a way to get the input from society about how we're going to make these decisions, not only about what the values of the system are but also what the safety thresholds are and what kind of global coordination we need," he noted.

Altman said AI had been "demystified" because people actively use it, adding this is the "best way" to pull the world forward with the new technology.

"A very good sign about this new tool (generative AI) is that even with its very limited current capability and its very deep flaws, people are finding ways to use it for great productivity gains and understand the limitations," he added.

Altman noted that people would have "better tools," however, he admitted that "it does feel different this time."

In response to a question about concerns by well-known figures, including Bill Gates and Elon Musk, about the future of AI, he said it is clear that the technology is very powerful and that "we cannot say with certainty exactly what's going to happen."

"I think it is good that people are afraid for downsides of this technology. I think it's good that we're talking about it," he added.

Altman said that lacking caution of the potential stakes, "would be very bad, so I like that people are nervous about it."

'We have to allow the technology to grow,'

Also speaking in the same panel, UK Chancellor Jeremy Hunt said people need to have a "light touch," about AI.

"Because this is such an emerging stage you can kill the golden goose before it has a chance to grow."

"I think we have to allow the technology to grow, we have to have our eyes open to the guardrails that we're going to need," he added.

Hunt said that if AI can transform the way public services are delivered and lead to greater productivity with lower tax levels, that would be a major public benefit.

"In the case of AI, I would say the challenge is to make sure the benefits are spread throughout the world, north and south, developing world and developed world and not just concentrated in advanced economies."

Because otherwise, he warned, that will deepen some of the fractures that are "already taking us in the wrong direction."