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OpenAI’s Altman releases blueprint for taxing, regulating artificial intelligence

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OpenAI and its CEO and co-founder Sam Altman compared society’s current circumstances to the transition to the Industrial Age and the Progressive Era and New Deal that followed. 

“In normal times, the case for letting markets work on their own is strong. Historically, competition, entrepreneurship, and open economic participation have lifted living standards and expanded opportunity,” the document stated, adding, “But industrial policy can play an important role when market forces alone aren’t sufficient—when new technologies create opportunities and risks that existing institutions aren’t equipped to manage.” ...

The recommendations include the creation of a public wealth fund to give every citizen a “stake in AI-driven economy growth” regardless of their current investments in financial markets. The company also called for taxes “related to automated labor,” given AI could reduce the tax base funding programs like the Supplemental Nutrition Assistance Program, Social Security and Medicaid. 

Altman also suggested new ways for public input to make sure the technology isn’t just developed with the perspectives of “engineers or executives behind closed doors.” ...

The company also suggested expanded job opportunities in human-centered job sectors like child care, health care and community services where AI may help these workers but not eliminate jobs. ...

See the full story here: https://thehill.com/policy/technology/5817906-openai-ai-policy-recommendations