Elon Musk recently spoke at the UK’s AI Safety Summit, suggesting that AI would replace all jobs, but it would also bring about a “universal high income.” This concept is similar to universal basic income (“UBI”), a popular concept in the UK that would allow everyone to receive a standard payment from the government regardless of employment status. However, Musk’s idea goes further by proposing that AI will create an “age of abundance” where everyone’s standard of living increases. Unfortunately, Musk was painfully silent about the details of how this new income would be collected and distributed. It is important to note that Musk’s previous stance on AI’s risks versus its benefits seems contradictory to this new universal high income talking-point of his.
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