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US Proposal for 'AI Dividends' to Citizens

US Proposal for ‘AI Dividends’ to Citizens

Alex Bores proposed an 'AI Dividends' program for direct payments if automation causes layoffs.

US Congressional candidate Alex Bores has proposed an ‘AI Dividends’ program. The initiative suggests direct payments to citizens if automation leads to mass layoffs.

Bores relies on expert forecasts suggesting that artificial intelligence could replace up to 50% of jobs, with entry-level positions being the most vulnerable. 

The program would be triggered automatically upon reaching certain economic indicators:

  • prolonged decline in employment levels; 
  • decrease in wages in specific sectors; 
  • increase in AI productivity without the creation of new jobs.

In addition to payments, the project includes funding for retraining courses and increased oversight of technologies. The amounts and frequency of disbursements are not yet specified in the document. 

To fund the initiative, Bores proposed several mechanisms: 

  • a tax on the use of AI tokens; 
  • the state’s right to purchase shares in AI companies at a discount; 
  • tax reforms.

The author of the initiative believes these mechanisms should be implemented before a narrow circle of companies accumulates excessive profits through automation. In his view, it will be much harder to change the system after large-scale displacement of people from the labor market. 

Earlier in April, Oracle began laying off thousands of employees amid falling stock prices and significant capital expenditures on AI infrastructure.

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