OpenAI chief Sam Altman spoke out Monday against immediate “heavy regulation” that could hamper the rapid development of artificial intelligence technology, but stressed the need for long-term institutional oversight.

Altman, whose company created the ChatGPT bot, last month told US lawmakers that governmental regulatory intervention was needed to face the risks of AI.

In remarks at Israel’s Tel Aviv University, Altman on Monday stressed that his call for oversight was not aimed at “the systems of today”.

“I think it would be a mistake to go put heavy regulation on the field right now or to try to slow down the incredible innovation,” he said.