AI shows us the way towards a universal basic income.

We have still not yet grasped that the pace and scale of development of AI will probably transform our lives within the next 20 years. The worlds of AI in 2010 and 2020 were radically different. AI is much more prevalent now than it was 10 years ago. You should reckon on the differences in AI’s impact on our world between 2020 and 2030 being even greater. Fundamentally, AI will be able to perform much of, probably most of, the work that humans currently do.

There are two consequences of this in the medium to longer term. One is that most people will need to come up with other ways to occupy their time. This could herald a flourishing in human existence, or mass ennui – we shall see. The other is that the world of economics will be up-ended. To the extent that money is needed at all, countries with advanced AI embedded into their entire economy will be able to offer everyone a universal basic income. As a result, political and economic governance will need to be overhauled. That is the elephant in the room.

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