universal basic income

Elon Musk reignited debate on universal basic income, proposing it as a solution to AI-driven job losses. He envisions a future of extreme abundance where AI and robotics will generate vast goods and services, making even luxuries like penthouses widely accessible without inflation. Musk previously predicted no poverty, only universal high income.

Elon Musk has proposed a "Universal HIGH INCOME" system, suggesting government checks to combat AI-driven job losses. This idea aligns with OpenAI CEO Sam Altman's proposal for a public wealth fund, despite their rivalry. Critics, however, warn of reduced work incentives and increased government reliance.

AI pioneer Ben Goertzel predicts human-level AGI within two to three years, warning of a significant 'job apocalypse' as most professions become obsolete. While manual labor and some creative roles may persist longer, the focus for humans will shift from earning a living to finding purpose, potentially ushering in a utopian world with more leisure time and UBI.

Tesla CEO Elon Musk says the company plans to increase its headcount even as AI drives mass layoffs across the tech industry—but adds that output per employee will get "nutty high." His comments come as Block, Atlassian, Amazon, and Meta cut thousands of jobs, citing AI. OpenAI's Sam Altman, meanwhile, warns that some companies are "AI washing" layoffs they would have made regardless.

Venture capitalist Vinod Khosla proposes a radical shift in US taxation due to AI's job displacement. He suggests taxing capital gains equally with ordinary income as AI shrinks the labor economy. Khosla believes professions like accounting and truck driving are at high risk, echoing concerns from other tech leaders about AI's profound economic impact.

Lambasted until recently as too costly or too "socialist," paying people for simply being alive and trusting they will be productive has new support amidst Corona pandemic and as jobs lose out to tech. The massive recovery package being considered in the US Congress to help the economy would move a step closer toward the idea of a universal basic income.

New Delhi, Mar 8 () On the International Women's Day, industry body Assocham advocated for introduction of universal basic income for women, saying it can lead to a significant transformation in India's socio-economic landscape.

The Punjab and Haryana high court has observed that in cases where an accused seeking bail is a flight risk or has a history of fleeing from justice, conditions can be inserted that all expenditure incurred to trace the person shall be recovered from him, and the state shall have a lien over his assets to make good the loss.

For the first time, the upcoming Economic Survey of India will put forth the idea of universal basic income (UBI) and explore the various challenges in implementing it across the country.

Geoffrey Hinton, the 'godfather of AI,' warns about job loss due to AI and calls for universal basic income. He also highlights concerns about AI chatbots, extinction-level threats, and the military's use of AI. Additionally, he discusses the risks of large language models, autonomous decision-making, and the threat of AI takeover.

The study said that looking at the difference between labour force participation rates in rural and urban areas, the urban equivalent of schemes such as MGNREGS that are demand-based and offer guaranteed employment should be introduced so that the surplus-labour is rehabilitated.

While India debates the merits of free basic facilities, it turns out that rich countries such as Germany have provided and benefited from free education and healthcare for years

Rapid tech transitions are outrunning society’s capacity to process them. Like slow food, we need a 'slow AI' movement

AI pioneer Geoffrey Hinton warns that artificial intelligence could exacerbate economic inequality, leading to job losses and increased profits for the wealthy. He anticipates routine tasks being automated, while skilled roles and healthcare may benefit. Hinton also disagrees with universal basic income proposals and expresses concerns about AI's potential misuse, including the risk of superintelligence and bioweapons.

The common man in India is hoping for a slew of measures in the union budget to combat rising inflation and tax relief to leave more room for disposable income in the hands of salaried class. They also want the deduction limit under section 80c to be increased to more tax exemption on home loan interest payment, making alternative tax regime lucrative to attract more assesses. Experts expect the government to increase the basic income tax exemption limit that is currently set at Rs 25 lakh per year under both the new and old income tax regimes. Finally, chartered accountant Kirti Joshi chairman Indore branch of Circ of ICAI said the government should come up with measures to make more room to make tax-saving investments, leave more disposable income with the salaried class, and extend the timeline to file the revised returns for assesses who require audits of their books to March 31 as opposed to December 31 because such assessments file their returns on October 30 to boost sales of houses.

Rutger Bregman, a Dutch historian and author, challenges the notion of inherent human selfishness, arguing instead for our innate capacity for kindness and cooperation. His bestselling books advocate for radical hope and societal transformation, proposing bold ideas like universal basic income and a shorter workweek to create a more equitable future.

"I can bet ..within the next two years, at least one or.

The people of Ranchi are pinning their hopes on the Narendra Modi-led government to tame inflation, improve the ease of living, generate jobs, and create livelihood opportunities. They are especially hopeful for the budget's bid day, when they will be able to see the government's plans for the year. Some of the youth's expectations include easier loan applications for employment and livelihood, and a reduction in the interest rates on education loans and tuition fees. The elderly are hoping for an increase in their regular benefits, such as the old age pension, and free healthcare.

Cash transfers can be economically efficient. But these are not —with some exceptions — being used by either the central or state govts to replace existing subsidies. Rather, new freebies pile up on top of old

Microsoft's AI chief, Mustafa Suleyman, declared the company will halt development of any AI system that risks "running away from us." This new stance prioritizes safety and human interests over a rapid race to superintelligence. Following a revised OpenAI deal, Microsoft now has freedom to pursue its own advanced AI, emphasizing ethical guardrails and government collaboration.

The target group is said to include unemployed people with no source of income. For better utilisation of funds, money could be given to the woman of the household.

Zoho CEO, Sridhar Vembu, predicts a resurgence of traditional jobs as AI automates production, making goods and services more affordable. He envisions higher wages for these revived roles, citing the demand for nature-friendly farming and live concert experiences.

India's economy is set to grow by a robust 7.4 per cent in the current fiscal, according to the Economic Outlook Survey brought out by industry body Ficci. The survey noted that India's economy was able to withstand demonetisation on the back of strong macroeconomic fundamentals.