Artificial Intelligence

Altman Releases US' Largest Basic Income Study's Findings

JUL 23 2024·Updated JUL 24 2024

Story

Above: Sam Altman speaks onstage during A Year In TIME at The Plaza Hotel on Dec. 12, 2023 in New York City. Image credit: Mike Coppola/Staff/Getty Images Entertainment via Getty Images

The Facts

The results of a three-year study on universal basic income, carried out in Illinois and Texas by OpenResearch — a group backed by OpenAI founder Sam Altman — are out.
Bloomberg.com
The study involved around 3K people aged 21-40, earning less than $30K annually. For three years, 1K participants received $1K a month, while a control group of 2K received $50 a month.
Quartz
The study's results reportedly provide insights into the sustainability of a universal basic income model in a possible future with a critical role played by artificial intelligence (AI).
Observer (NY)
It found that those receiving $1K worked fewer hours weekly than those receiving $50 monthly. Every participant was at or under 300% of the federal poverty line.
Bloomberg.com
In addition, Americans who received $1K a month demonstrated "greater agency to make decisions," including preparing for the future and "expressing interest in new business ventures."
Business Insider
Altman's interest in the project reportedly stemmed from predictions that AI and automation could obsolete jobs and that society may need a universal basic income model to ensure equitable wealth distribution.
The Pinnacle Gazette

Sources Split

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CENTER

RIGHT

ESTAB
CRIT

CENTER

PRO
ESTAB

The Spin

Narrative A

The Sam Altman-backed study explored how AI-induced job losses might necessitate universal basic income. It highlighted that cash provides flexibility and reduces stress. Despite mixed results, the need for universal basic income as an effective anti-poverty tool is evident, independent of AI advancements.

Vox

Narrative B

This study shows that giving $1K monthly to poor Americans didn't improve their long-term financial health and could potentially increase their dependence on financial assistance. So, while cash grants help meet immediate needs, they aren't a comprehensive solution for job loss due to AI.