Universal Basic Income (UBI) in the Age of Automation

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  • Опубликовано: 30 янв 2025
  • Sarai Hannah Ajai's article examines the potential societal impact of Artificial General Intelligence (AGI) and robotics on the labor market. Ms. Ajai argues that Universal Basic Income (UBI) is a crucial solution to address widespread job displacement caused by automation. The article explores the potential benefits of UBI, such as increased economic security and reduced inequality, alongside the challenges of implementation, including funding mechanisms and the need for complementary social programs. Ultimately, the author advocates for UBI as a means of fostering a more equitable and stable future in a post-labor society.
    Nation In Focus Podcast
    Title: The Future of Work and the Role of Universal Basic Income: Ensuring Stability in a Post-Labor Society
    Article Written By: Sarai Hannah Ajai
    The advent of Artificial General Intelligence (AGI) and robotics promises to revolutionize the global economy. With automation gradually taking over a vast array of human labor from manual jobs in manufacturing to complex tasks in fields such as healthcare, legal services, judiciary system and even creative industries, societies face the prospect of a future where human work is no longer the primary source of wealth creation. The rapid pace of technological advancement raises an urgent question: How will societies continue to function when traditional labor markets become obsolete?
    In this context, Universal Basic Income (UBI) has emerged as one of the most debated and potentially transformative solutions. UBI promises to provide every citizen with a guaranteed income, regardless of employment status, offering a lifeline in a world where jobs are increasingly replaced by machines. This article explores the relationship between automation and economic stability, the role of UBI in addressing these challenges, and how this concept could reshape society as we know it.
    The Decline of Traditional Labor: A Future Shaped by AGI and Robotics
    Historically, labor has been the foundation of economic exchange. In ancient times, barter systems were the primary mode of trade: one person might exchange pottery for boots, another might trade grain for cattle. As societies grew more complex, the need for a universal medium of exchange led to the rise of money, which facilitated trade and allowed economies to expand. Money became the mechanism by which goods and services could be priced and exchanged in an increasingly interconnected world.
    However, with the onset of AGI and robotics, we are entering a new era where traditional labor is no longer necessary for wealth creation. Automation technologies ranging from AI-powered robots on factory floors to software that can complete legal contracts, process judiciary courts cases and diagnose medical conditions are eliminating jobs across a vast array of industries. Even skilled professions that were once considered immune to automation, such as doctors, lawyers, and financial analysts, are now at risk of being replaced by intelligent systems capable of performing tasks faster, cheaper, and more efficiently than any human worker.
    The impact on the labor market is profound. As machines continue to take over more jobs, the question arises: What happens to the millions of workers whose skills are no longer needed? While some argue that automation will create new opportunities for employment in emerging industries, the sheer scale of displacement suggests that these new opportunities may not be enough to accommodate all those displaced. In fact, the global workforce could face a future where traditional employment is no longer the primary means of economic survival.
    Read Full Article at www.saraiajai.com

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