Elon Musk has once again sounded the alarm on artificial intelligence (AI), warning that rapid advancements could lead to widespread unemployment. The tech billionaire suggests that governments must prepare for this seismic shift by implementing Universal Basic Income (UBI) to support displaced workers.
The AI Threat to Jobs
Speaking at a recent industry event, Musk emphasised that AI and automation are advancing at an unprecedented pace, threatening to render many traditional jobs obsolete. "We're approaching a point where machines can outperform humans in almost every sector," he stated. "This isn't science fiction – it's happening now."
Universal Basic Income: A Potential Solution?
Musk argues that UBI – a system where all citizens receive regular, unconditional payments from the government – could cushion the blow of mass unemployment. "When AI takes over most jobs, we'll need a new economic model," he explained. "UBI could prevent societal collapse by ensuring people have their basic needs met."
Expert Opinions Divided
Economists remain split on both Musk's predictions and his proposed solution. Some agree that AI disruption is inevitable, while others believe new types of jobs will emerge, as they have during previous technological revolutions.
Dr Sarah Chen, labour economist at Oxford University, notes: "History shows technology creates as many jobs as it destroys. However, the transition period can be painful, and we should prepare safety nets."
The Global UBI Experiment
Several countries have already tested UBI schemes with mixed results. Finland's two-year trial showed improved wellbeing but little effect on employment. Meanwhile, pilot programmes in California demonstrated reduced poverty levels among participants.
As AI continues to evolve, the debate about its economic impact – and potential solutions – is likely to intensify in coming years.
