Computer scientist Geoffrey Hinton, often called the “godfather of AI,” fears the new technology will replace many workers in “everyday jobs.” He called on the UK government to introduce a universal basic income to minimize the impact of AI.
Since its inception, artificial intelligence (AI) has received mixed reactions. Some see this as a potential equalizer and say tools like ChatGPT could benefit employees who struggle with certain aspects of their work. Critics, however, expressed concerns about the technology’s potential to exacerbate existing inequalities.
Hinton, a pioneer in the field of neural networks, has emerged as a vocal critic of potential dangers associated with AI. After leaving Google last year, he expressed concerns about the impact of technology on society.
Hinton joined those who believe AI could harm people, recently telling the BBC he was “concerned that AI could take over many everyday tasks.”
Guaranteed Income: A Safety Net in the Age of AI
“I was consulted by people in Downing Street,” he said. Hinton argued for a universal basic income (UBI) to solve this challenge. For those who don’t know, UBI refers to a system of recurring cash payments distributed to all adults within a defined population, regardless of wealth or employment status.
Recipients have complete discretion as to how they spend the money. UBI has received significant attention from AI researchers, futurists, and industry leaders as a potential solution to mitigate the economic disruption AI may cause.
A 2018 study in Alaska provided further evidence of the potential of a universal basic income (UBI). The results of the study suggest that unconditional cash transfers do not discourage employment. As a result, UBI is gaining traction as a potential poverty reduction tool in countries such as South Africa, Kenya and India.
Several cities and states in the US have experimented with guaranteed basic incomes, providing no-obligation monthly payments to a target group of people. Hinton warns that while AI increases productivity and wealth, it could worsen inequality if left unchecked.
He fears job displacement and urges government intervention to prevent this negative impact on society. Hinton sounded the alarm about AI development and urged caution. He believes that AI could pose a threat to humanity that would amount to extinction within five to 20 years.
Even proponents of rapid AI development recognize the need for government intervention. Recurring payments to redistribute wealth are becoming increasingly popular as a possible solution.
OpenAI CEO experiments with UBI: Can technology solve inequality?
Sam Altman, CEO of OpenAI and a leading figure in the race for artificial general intelligence, is also conducting his experiment on a universal basic income. The results are expected to be published soon.
Altman proposes “Universal Basic Compute” as an alternative to a traditional UBI. This concept would give everyone access to the capabilities of a powerful future language model like GPT-7, rather than direct cash payments.
“Everyone gets a share of the computing power of GPT-7,” he said on the “All-In” podcast. “They can use it, they can resell it, they can donate it to someone to use for cancer research.”
While universal basic income offers some benefits, it also presents some challenges. In 2023, it was announced that universal basic income would be tested by the think tank Autonomy with randomly selected but controlled groups in the United Kingdom. Although the results have not yet been published, several advantages and disadvantages had to be taken into account:
Advantages
- UBI aims at income security
UBI can potentially be an effective tool to combat poverty and inequality. UBI would directly increase income levels by providing a regular, unconditional cash payment, particularly to those at the bottom of the economic ladder.
- The impact of UBI goes beyond money
The impact of UBI goes beyond finances and potentially improves health and well-being. Higher income could lead to better nutrition and better access to healthcare, reducing the burden on public services.
- UBI reduces administration costs
UBI could streamline social security by removing complex eligibility checks and freeing up resources for the DWP to better support employment initiatives.
Disadvantages
The biggest disadvantage of UBI is its high price. A UBI high enough to make a difference, while effective, may be prohibitively expensive. Targeted programs, although their effectiveness is controversial, offer a potentially more cost-effective solution.
- UBI could discourage some from working more
The effects of UBI on jobs must be clarified. Proponents argue that this frees up job seekers for better matches and increases productivity. However, it could stop some from working more.
- Funding UBI could require higher taxes
Implementing basic income could require significant tax increases across all income brackets. While the goal is to increase the income of the most disadvantaged, these tax increases could dampen the motivation to work more, especially among higher earners. This could hinder overall economic growth.