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How “windfall profits” from AI companies could fund a universal basic income
Key Excerpts from Article on Website of Vox


Vox, July 28, 2023
Posted: September 24th, 2023
https://www.vox.com/future-perfect/23810027/openai-artificia...

There’s a lot of money in AI. Economists are predicting a massive boom in productivity as AI use takes off, buoyed by empirical research showing tools like ChatGPT boost worker output. Demis Hassabis, the founder of DeepMind, sold his company to Google in 2014 only after the latter agreed to an independent ethics board that would govern how Google uses DeepMind’s research. ChatGPT maker OpenAI is structured as a nonprofit that owns a for-profit arm. Anthropic, which makes the chatbot Claude, is divesting control over a majority of its board to a trust composed not of shareholders, but independent trustees meant to enforce a focus on safety ahead of profits. Those three companies, plus Microsoft, got together ... to start a new organization meant to self-regulate the AI industry. There are three broad ways the profits reaped by AI companies could make their way to a more general public. The first ... is taxes. The second, considerably less important, is charity. The third is if the companies themselves decide to donate a large share of their profits. This was the key proposal of a landmark 2020 paper called “The Windfall Clause.” The idea is simple: The clause is a voluntary but binding commitment that AI firms could make to donate a set percentage of their profits in excess of a certain threshold to a charitable entity. They suggest the thresholds be based on profits as a share of the gross world product (the entire world’s economic output).

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.


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