When former Treasury Secretary Lawrence Summers joined the board of artificial intelligence startup OpenAI earlier this week, he brought with him decades of experience advising presidents and shaping global economic policy. Yet despite his extensive credentials, even Summers admits he has much to learn about governing the company thrust into the spotlight by its buzzy text generator ChatGPT.

“I’ve been on the job two days,” Summers chuckled when asked about OpenAI’s governance during an interview on Bloomberg TV‘s Wall Street Week. Still, Summers sees immense potential in OpenAI’s technology, calling it “extraordinarily important” while also recognizing the startup needs oversight as it continues pushing boundaries.

“OpenAI has to be prepared to cooperate with key government officials on regulatory issues, on national security issues, on development of technology issues,” Summers commented. This cooperative spirit will be critical moving forward after OpenAI’s chaotic leadership battle last month when the board abruptly fired then reinstated CEO Sam Altman within days.

Most of that board is now gone, replaced by a slate including Summers and former Salesforce Co-CEO Bret Taylor. The new directors will play a vital role in guiding OpenAI during its rapid growth. When asked about his vision for OpenAI’s governance, Summers joked his onboarding packet was still en route. But he brings a clear-eyed perspective to the table.

Earlier this year, Summers predicted AI would disrupt white-collar jobs, saying it is “coming for the cognitive class.” His views on technology’s double-edged potential — bringing both profound promise and risk — will resonate at OpenAI. As innovations like ChatGPT capture the public imagination, calls for openness and accountability grow.

Summers described OpenAI’s work as “extraordinarily important.” Now the question is how he and his fellow board members will direct that work for the greater good. If his tenure negotiating economic crises is any indicator, Summers has never shied away from monumental challenges that shape human progress. AI presents another chapter.