How Universal Basic Income Could Mitigate Job Losses Due to AI
Friday, 26 July 2024, 18:19
The Growing Threat of AI to Employment
Artificial intelligence has the potential to significantly disrupt the job market, with millions of jobs at risk of being eliminated. This raises important questions about the future of work and economic stability.
Big Tech's Response
- Leading tech companies are advocating for policies to address the impending job crisis.
- Universal Basic Income (UBI) emerges as a proposed solution.
The Concept of Universal Basic Income
Universal Basic Income provides individuals with a regular, unconditional sum of money from the government, allowing them to meet their basic needs.
Why UBI Matters
- It offers financial stability for those displaced by AI.
- It encourages innovation and reskilling in a changing job landscape.
Adopting UBI could be an essential step in cushioning the impact of AI-related job losses across industries.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.