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With the coming of artificial intelligence into our industries, productivity is bound to be increased, but the opportunity cost of the increase in production is, of course, a great increase in job losses.
The man regarded as the “godfather of artificial intelligence” has told the BBC that a benefits reform giving fixed amounts of cash to every citizen would be needed because AI would take lots of jobs.
Professor Geoffrey Hinton said while he felt AI could increase productivity and wealth, the money would go to the rich, ” and not the people whose jobs get lost and that’s going to be very bad for society”.
He pioneered neutral networks which form the theoretical basis of the current explosion in artificial intelligence.
The concept of a universal basic income amounts to the government paying all individuals a set salary regardless of their means.
However, critics are saying it would be extremely costly and divert funding away from public services, while not necessarily helping alleviate poverty.
