Sam Altman, the CEO of OpenAI and co-founder of Worldcoin, recently testified before Congress alongside IBM’s chief of trust, Christina Montgomery, and NYU professor Gary Marcus. The Senate judiciary subcommittee session focused on the potential threats posed by generative AI models and how lawmakers should approach regulation. Altman advocated for the establishment of a federal oversight agency with the authority to issue and revoke development licenses, and suggested that creators should be compensated when their work is used to train an AI system. Additionally, Altman agreed that consumers who suffer harm using AI products should be entitled to sue the developer. The speakers also agreed with members of Congress that the U.S. needed a national privacy law similar to those in Europe.

During a discussion on DeFi and Web3 companies, New Jersey Senator Corey Booker expressed concerns about centralization and monopolization in the industry. David Marcus, a Facebook executive, warned that a small number of big tech companies could control public perception, posing a risk to privacy. Sam Altman, founder of Worldcoin, explained that OpenAI provides a platform for democratization, allowing developers and end users to adapt their products for various uses. Altman is reportedly in talks for $100 million in funding for Worldcoin.