- AI advances could widen wealth gaps, which has prompted calls for a universal basic income.
- UBI offers recurring cash payments to all adults in a population, regardless of status.
- AI leaders such as Elon Musk and Sam Altman have called for a universal basic income.
Universal basic income, once a utopian ideal, has become a hot topic among AI leaders.
It’s a recurring cash payment made to all adults in a certain population, regardless of their wealth and employment status. There are no restrictions on how recipients spend their money.
As advancements in artificial intelligence technology drive economic growth, concerns are rising about whether the wealth it generates is shared equitably.
Industry leaders such as OpenAI CEO Sam Altman and AI’s “godfather,” Geoffrey Hinton, have warned about AI’s potential to eliminate jobs — and subsequently widen the wealth gap between the haves and the have-nots. They, along with other tech leaders, are advocates of universal basic income as an antidote.
The concept of countries implementing universal basic income has shifted in recent years from a niche topic within tech circles to a mainstream conversation, thanks in part to the former presidential candidate Andrew Yang, who made UBI a central part of his platform in 2020.
Yang campaigned on what he called the “Freedom Dividend,” monthly $1,000 payments with no strings attached to all American adults. The idea was met with skepticism, and Yang’s candidacy quickly fizzled. After the success of pandemic-era stimulus checks, though, and now the rise of AI, the idea has gained new traction.
Guaranteed basic income, which is similar to UBI but targets specific groups of people for a set period of time, has been piloted over 100 times across the country. The United States has basic income programs in 16 states, along with Washington, DC, that give residents cash — no strings attached.
The movement toward basic income programs is not without its critics. Some argue the programs could disincentivize recipients to work or even encourage them to spend frivolously. Some say the expenses of basic income programs could lead to higher taxes or local government budget cuts.
For now, though, AI leaders say it’s the best option to mitigate the adverse economic impacts the technology could have. Here’s what some of the major AI figures are saying about UBI.
