Elon Musk made some shocking predictions about the impact of artificial intelligence (IA) in jobs and income. This is because it was present during the AI Security Summit in the United Kingdom in November.
The serial entrepreneur and CEO painted a utopian vision where AI makes traditional employment obsolete. On the other hand, it provides an “age of abundance” through a “universal high income” system.
“It’s hard to say exactly what that moment is, but there will be a point where no work is necessary.”Musk told UK Prime Minister Rishi Sunak. “You can have a job if you want to have a job or some kind of personal satisfaction, but AI will be able to do it all.”
While admitting that this prospect might not make “people comfortable,” Musk sounded optimistic about what he called an AI-driven “protopian” future.
“I think everyone will have access to this magical genie and will be able to ask any question. It will certainly be greater for education. You will be the best tutor”he said. “And there will be no shortage of goods and services. It will be an era of abundance.”
Elon Musk and universal basic income
Musk’s “universal high income” concept appears to be an evolution of the universal basic income (UBI) idea supported by other technology leaders like Sam Altman.
“We will not have universal basic income. We will have high universal income,” Musk said, although he did not explicitly define the difference. “In a way, it will be a leveler, an equalizer.”
It is worth noting that this is not the first time that Musk has addressed the topic. In 2018, he posted on X: “Universal income will be necessary over time if AI takes over most human jobs.”
This vision is in line with recent discussions and experiments around universal basic income. Indeed, especially in light of the success of the expanded child tax credit in 2021. This is because the temporary increase and changes in the distribution of the tax credit demonstrated how direct cash payments can lift millions out of poverty without reducing their labor force participation. The example of the child tax credit expansion, which lifted 3.7 million children out of poverty as of December 2021, supports the idea that a well-designed cash assistance system can positively impact society without encouraging exit from the labor market .
No country has introduced a universal basic income sufficient for essential needs. But the U.S. has seen glimpses of its potential benefits through initiatives like the Alaska Permanent Fund and the positive impacts of expanding the child tax credit. These examples provide empirical evidence supporting Musk’s vision, where a “universal high income” system could ensure that no one falls below a certain income floor, addressing poverty and inequality in an era where AI can transform employment. traditional.
Businessman faces criticism
Musk’s optimism contrasts with recent criticism of universal basic income. But it builds on empirical evidence from past initiatives like the child tax credit and the Alaska dividend. Whether Musk’s AI-driven “universal high income” utopia or a dystopia of mass unemployment comes to fruition remains to be seen.
But his comments, along with recent policy evidence related to universal basic income, highlight intense debates surrounding the economic impacts of automation. “It’s hard to say exactly what that moment is,” Musk said, indicating that the world may need to prepare for a radical redefinition of work, supported by policies that guarantee economic stability and social well-being in the face of technological advances.
Source: Atrevida
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
