Digital Economic Justice: The Urgency of Reinventing Our Economic Models in the Age of AI

People inadvertently support harmful systems, thinking they’ll eventually accumulate enough wealth to shield themselves from harm.

The truth?

They won’t.

This mindset only delays the inevitable, as exploitative models take from those least protected.

Geoffrey Hinton, the "godfather of artificial intelligence," has just started publicly discussing what I've been saying for over nine years.

Hinton, a pioneer in neural networks, left Google last year to freely discuss AI's dangers.

He is now leading conversations about the need for Universal Basic Income to counteract job losses caused by AI advancements.

So, why was it that in 2015, a nervy, fast-talking, 24-year-old school dropout (me!) got on stage to talk about their "big short" position?

Why was it clear there was an urgent need to reinvent our economic models for the age of AI?

I was a dyslexic working-class kid.

I wasn't academically gifted, with only a handful of GCSEs.

Only a few years after being on benefits.

(Not exactly who you'd seek out for future advice, some might say).

But, how did I know what was coming?

Answer: I was working with some of the most vulnerable people in society as a youth worker.

I saw how digital advancements impacted the most vulnerable.

They are the first and most sensitively impacted by societal change (but no one is exempt).

Through my experiences, I saw that as our capabilities online grew, the differences in human capital didn't just transfer to a digital setting; they were magnified.

The more machine-like the task, the higher the risk of it being done by a machine.

The more digital the workforce, the less requirement for human labour.

Our systems and institutions are incompatible with a digital economy.

Nine years ago, they were cracks; today, it's a huge void.

Redundancies, stifling growth, downsizing, growing unemployment...

12% of 30-34 year olds are living with their parents due to skyrocketing rent and inflation.

What would constitute a sign for you?

Universal basic income alone is a start but not enough.

We need a combination of universal basic income, universal basic services, and reverse interest rates to survive in a society, political system, and economy underpinned by AI.

Not just for the most vulnerable, but for you.

This will impact us all, and soon.

The best time to start was nine years ago; the next best time is today.

Digital economic justice is a non-negotiable.

#DistributedRep #DigitalEconomicJustice #UniversalBasicIncome