I owe an AI panic sceptic a beer. But she was only half right

October 1, 2026 — 5:00am

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I owe Dame Wendy Hall a beer.

Three weeks ago, I wrote a column arguing we should start listening to the people who warn that artificial intelligence could wipe us out. In it I gave Hall, the computer scientist advising the United Nations on AI, precisely one paragraph for her view that much of the panic is PR and marketing to drive valuations. I was, I’ll admit, broadly dismissive.

Since then, OpenAI has had the kind of month that should frighten investors. The company has apologised to Australia for one of its agents getting into a Medicare statistics platform, though it says no medical records were accessed. It has shelved its most advanced model and been accused by its own staff of ignoring their safety warnings.

This week it said it would raise $US30 billion ($43 billion) privately, at a valuation of $US1.4 trillion. It remains one of the most valuable companies in the world. Investors haven’t blinked.

A month of downright bad news hasn’t dented OpenAI’s price one bit. Hall’s argument – that the doom talk pumps up valuations – was right.

Basically, the people closest to the problem flagged it and were told to hurry up.

The rest of my argument has held up better. This week it........

© Brisbane Times