Friday, 17 February 2017

UBI will be necessary: Musk

Elon Musk shared his thoughts on universal basic income (UBI) at the World Government Summit in Dubai recently, Futurism reports.

In his comments, he relayed concerns that autonomous technology will impact jobs, and he noted that we will likely have intelligent, massive-scale automation for transportation relatively soon – within the next few decades.

“Twenty years is a short period of time to have something like 12-15 percent of the workforce be unemployed,” he said, pointing out the extent of how automation will disrupt car-based transportation specifically.

However, displacement due to automation isn’t just limited to transportation, it will sweep across a number of industries, and Musk argues that the government must introduce a UBI program in order to compensate for this.

“I don’t think we’re going to have a choice,” he said. “I think it’s going to be necessary. There will be fewer and fewer jobs that a robot cannot do better.”

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