"Universal HIGH INCOME via checks issued by the Federal government is the best way to deal with unemployment caused by AI. AI/robotics will produce goods & services far in excess of the increase in the money supply, so there will not be inflation."
"Boston Consulting Group predicted this month that 10% to 15% of US jobs could be eliminated in the next five years, affecting roughly 17 million to 25 million people."
"Universal high income (UHI) is effectively a more generous version of universal basic income (UBI), which is typically defined as a recurring cash payment to all individuals in a population regardless of their wealth."
"Peter Diamandis, a leading expert on the topic, has said that UHI will become possible not by giving out more money, but by reducing the cost of everything."
Elon Musk proposes that government checks are the optimal solution for job losses caused by AI and robotics. He suggests universal high income (UHI) as a means to ensure people can live well, arguing that AI will generate goods and services without causing inflation. Predictions indicate that a significant portion of the US workforce may be displaced by AI in the coming years. UHI differs from universal basic income (UBI) by providing sufficient funds for an affluent lifestyle rather than just covering basic expenses.
Read at www.businessinsider.com
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