Study on Guaranteed Income and Job Losses from AI
Tech entrepreneur Sam Altman conducted a study on guaranteed income to cushion job losses from AI and automation. Results show that people mostly spent the extra money on basics like food and housing, with some showing interest in entrepreneurship. The study found that the cash payments led to increased leisure time, reduced stress, and slight reductions in work hours. The debate on whether basic income helps people's long-term prospects remains open.
Key Points
- Participants mostly spent extra money on basics
- Some showed interest in entrepreneurship
- Cash payments led to reduced stress and increased leisure time
- Debate on long-term effects of basic income continues
Pros
- Cash aid could help cushion job losses from AI and automation
- Study shows people spent money on basics like food, housing, and helping family and friends
- Increased interest in entrepreneurship observed
Cons
- Some recipients faced unexpected expenses like vehicle repairs
- Declines in stress and food insecurity faded after the first year
- Limited impact on work hours observed