OpenAI CEO Sam Altman hopes that the increased resources and time created by AGI, when it comes, will create better conditions for larger families.

Nick Patience, vice president and AI practice lead at The Futurum Group, told CNBC that though AGI is a "fantastic North Star for inspiration," on the whole it's not a helpful term.

While long-term effects may include reduced scarcity, Altman warns of short-term unpredictability, with potential high demand for resources like advanced chips, leading to unusual economic dynamics and borrowing costs.