OpenAI co-founder Sam Altman, who is well-known for introducing ChatGPT, has been removed as CEO by its board of directors due to a failure to communicate effectively with the board. This could potentially make it harder for the company to raise funds to maintain the software. According to Reuters, Altman, who is a key figure in fundraising for ChatGPT, has lost his role as CEO and there are concerns about the impact this could have on the company’s financial situation.

The move by OpenAI’s board of directors took Altman by surprise, as he was not expecting to be replaced. The company, which is now valued at approximately 80 billion dollars, cited Altman’s failure to be consistently honest in his communications as the reason for his removal. However, specific details about what led to Altman’s “ouster” were not known on Friday. Despite this, the company has assured its staff that it will be able to operate without him but it is clear that Altman’s departure has left a significant gap that needs to be filled. Efforts will need to be made to raise funds and recruit talented engineers for software maintenance.

Just a year ago, Altman made waves with the introduction of ChatGPT, an AI technology that has the potential to revolutionize industries and humanity itself. However, concerns have been raised about the implications of this technology including fears of a “doomsday scenario” where software takes over the world. Altman however reassured public that heavy regulation is not needed for some time . In addition to his work with OpenAI, Altman is also involved in a newly launched cryptocurrency company that uses iris scanning for verification.