AI will bring in universal income and everyone will get wealthier, Oracle's Larry Ellison says
The widespread roll-out of artificial intelligence will eventually lead to universal income and will make "everyone wealthier", the executive chairman and chief technology officer of Oracle said on Tuesday. The ubiquitous use of robots across different industries and sectors will enable people to be more productive, Larry Ellison said in a wide-ranging discussion at the Oracle AI World event in…
Oracle's Larry Ellison predicted on Tuesday that artificial intelligence will eventually lead to universal income and wealth for everyone. In a wide-ranging discussion at Oracle AI World in Las Vegas, Ellison explained how the ubiquitous use of robots across industries and sectors will make people more productive. He highlighted examples like robotic surgeons and autopilot systems on airplanes to demonstrate the technology's ability to replace some jobs while reducing costs.
Ellison stressed that as companies implement value-added tax on the value robots add, a universal income system could be feasible. He emphasized the importance of proper taxation and computer systems to ensure a healthier and wealthier society. Ellison also discussed the significant impact AI could have on healthcare, predicting that most cancers will be eradicated within five to ten years due to improved drug discovery and early detection methods.
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