In January of 2024, around 2,780 AI researchers predicted the full automation of all human work: white-collar, blue-collar, specialized, skill-based, and generalized.
Yes, all work by the year 2100.
If we cross-reference that with the growth of technology and how ahead of time these innovations in the technology space are, we’re looking at advances that are 50 to 80 years ahead of predictions. 😲
Ray Kurzweil, one of the most accurate futurists out there, has said that we’re going to see AGI (artificial general intelligence) by 2029 and Singularity by 2045.
In one of my recent videos, I went over the novel idea of a universal productivity dividend (UPD) as a potential solution in a post-AGI world. UPD works by taking the profits from full job automation (productivity that comes from robots, not humans) and giving it back to the human race.
The idea of a universal productivity dividend was proposed by ChatGPT o1 at the end of a lengthy discussion about how UPD could work.
When I asked what the chances are of being able to implement a UPD across the world by 2030, GPT o1 answered “less than 1%”.
So then I asked it to give me another scenario for rebuilding the economy and redistributing the profits from full job automation – something that could actually work.
And here’s what it gave me: a universal basic income supported by a sovereign wealth fund.
Let’s go over what this is and if it’s actually viable for the post-labor society we are headed into.
The Intersection of Job Automation and Universal Basic Income
The relationship between job automation and UBI is intertwined and complex. The core idea is this: as AI and automation increase, certain jobs will inevitably become obsolete, potentially leading to significant job displacement.
To mitigate the economic hardship this could cause, a universal basic income (UBI) has been proposed as a potential solution.
What is UBI?
In simple terms, universal basic income is a financial program where all citizens receive a regular, unconditional sum of money from the government, regardless of their income or employment status. The goal is to reduce poverty, support economic stability, and provide a safety net in a changing job market.
I discuss UBI at length on my YouTube channel. Watch my videos to learn more about how it works, its impact on society, and whether it’s viable in a post-labor economy.
Exploring the Viability of Universal Basic Income Automation
The road to UBI is not without its hurdles. Critics argue that it would disincentivize work, lead to job losses, and strain government resources. There are also complex questions around implementation, funding mechanisms, and potential social and economic ramifications.
Despite the valid concerns, there is a growing body of evidence that suggests UBI could be a viable solution. Several guaranteed income pilot programs have shown promising results, offering a positive impact on American workers.
For example, in a notable income experiment in Stockton, California, a two-year basic income program targeting low-income individuals showed significant improvements in participants’ financial stability, mental well-being, and even employment rates.
The Alaska Permanent Fund, while not a full-fledged UBI program, offers another interesting example of an income program. It distributes a portion of the state’s oil revenue to residents annually, demonstrating the feasibility of long-term, unconditional cash payments. So they take these natural resources and redistribute them back to the people.
Norway does something similar with its rich resource of petroleum.
Why not treat automation, which all of humanity stands to benefit from, the same way? I think it’s time for policymakers to prioritize commissioning studies and research and test pilots of new economies that we can scale across the world when we live in a post-labor society.
These projects offer compelling evidence that UBI, if implemented thoughtfully, has the potential to not just mitigate the negative effects of job automation but to also usher in a new era of economic security and individual empowerment.
A Look at Potential Funding Mechanisms
Funding is perhaps the most significant obstacle facing universal basic income implementation. Various models have been proposed, each with its own set of complexities.
Some suggest a value-added tax, taxing high earners, or even leveraging the profits from automation itself through a “robot tax.”
So the idea that ChatGPT gave me of a sovereign wealth fund is pretty interesting: UBI funding would come from automation, profits, and taxation.
No matter how you look at it, a tax of some sort on the profits we obtain from automation is going to have to occur so we can redistribute that back to the people.
Here’s what I think of the idea of a sovereign wealth fund: we could put citizens in charge of the accountability and management of a diversified global portfolio, have AGI make decisions on how to trade and make profits, and turn the robot tax into 10 times more wealth.
We let AGI tell us how and where to invest that diversified global portfolio and give the dividends back to the citizens of the world. It’ll make way better financial decisions based on infinite amounts of data than a human ever could.
If we grow a fund managed primarily by citizens, we can reinvest in sustainable practices for humanity, better education, universal health care, affordable housing, and sustainable infrastructure projects that prioritize quality of life.
This is a way to take the wealth generated from automation, stack it, grow it, and protect it for future generations to benefit from.
We’d also be able to fund UBI itself for an unlimited period.
As dividends from a global diversified portfolio grow, we can turn UBI into UHC, or universal high income.
Will It Work?
Now, of course, we need some regulatory framework around this.
South Korea, a leader in high-tech industries and the world’s 13th-largest economy, has been an example of a vibrant democratic society where the government was decentralized.
Although South Korea’s economic growth hasn’t been that great since the COVID-19 pandemic, it remains an example of giving the power of the government to the citizens. They have one of the highest engaged citizen participation programs and they’ve done a great job at disclosing government budget information to the public. Their political system is a unitary presidential republic and their current president is a big proponent of democracy and human rights.
Reframing Our Perspective on Work and Purpose
Beyond the financial aspect, UBI begs us to re-examine our very relationship with work. As artificial intelligence continues to evolve, it’s natural to wonder: will we reach a point where traditional employment is no longer the dominant paradigm? Some believe this could lead to a resurgence in creativity and innovation.
In Tempe, Arizona, I recently had the opportunity to walk through Ryan Johnson’s Culdesac – a walkable community designed to connect residents and businesses.
I really liked the idea of a walkable, car-free neighborhood. There were small mom-and-pop stores right there, owned by the residents that lived there. You could walk to a doctor’s office, a quaint little candle store, or a restaurant. You could play outdoor cornhole and go shopping all within a few blocks of where you live.
Now I’m not saying you shouldn’t own cars (I own two myself), but I think sometimes we’ve lost sight of the benefits of fresh air, being around each other, involved in the day-to-day of being a human.
Remember, it’s human being, not human doing.
What Ryan Johnson is building with Culdesac is a comfortable, leisurely, enjoyable environment where you could spend a lot less time traveling and a lot more time just enjoying.
Sustainable and leisurely housing environments like that are pretty rare in America.
If you go to Europe, there’s a lot more focus on walking to the local bakery or walking to the local market where they catch fresh fish every day.
We’ve lost sight of that in a convenience-driven world here in the US that isn’t necessarily engineered to improve our quality of life, our health, or our wellness.
Making UBI Work for Us
I think that the greatest pitfall we need to consider when implementing a universal basic income is the danger of a totalitarian society not unlike the one George Orwell painted in 1984.
Humanity is the greatest obstacle to humanity, and it will always be the need for control coming from a place of greed, envy, personal motives, and an unhealthy desire for riches.
For the first time in the history of the world, all the things we need, whether it’s flipping on a light switch and having electricity or clean water and food to eat, all of that can be produced by robots.
It’s only a matter of time till we’re there.
Some even say it’s just 4 to 5 years away. 😱
But does this mean we’ll all be lazy couch potatoes?
Absolutely not.
In fact, if you study the true pilot programs of UBI there’s been a lot of success where people are freed from the need to slave away for a paycheck at a job they don’t like. For the first time in their life, they can actually pursue their passions, which opens up more drive to go and work at the thing they love.
But the great danger in rolling out UBI globally is creating a totalitarian, one-world order that makes humanity dependent on a system not designed for their health but for maximum profit for an elite few.
The good news is, that does not have to be our future.
Our future is not written yet.
And against all odds, I still believe in the good of humanity.
I believe in breaking free from generational curses, rewriting the story you’ve been told, and questioning every narrative.
Remember, we are the ones in control. We have the final say.
The idea of a universal basic income itself is not corrupt. It’s what world governments could and will do with this that can lead to an unhealthy system that degrades humanity.
We are in a place in time where human productivity doesn’t drive the world forward, but automation does.
It’s time for businesses to get with the times.
I believe in automating as many processes as you can if you’re a business owner and entrepreneur because then you’ll learn the benefits and the opportunities in this new age of AI.
As AI transforms the world of work, the path we choose to take – the decisions we make and the systems we put in place – will fundamentally shape the society we build for generations to come.
Whether UBI emerges as the optimal solution remains to be seen. But, by approaching the concept with openness and a commitment to both social responsibility and innovation, we open ourselves to a future where technology can empower all, not just a select few.
