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Elon Musk predicts ‘Universal High Income’ in AI driven future

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Elon Musk has forecasted a future where artificial intelligence renders traditional employment obsolete, paving the way for a system of “universal high income.”

Speaking at the inaugural AI Safety Summit, Musk painted a utopian vision where AI ushers in an “age of abundance,” providing limitless opportunities and resources.

He envisages a scenario where AI systems can accomplish all tasks, freeing individuals from the necessity of traditional employment.

“It’s hard to say exactly what that moment is, but there will come a point where no job is needed,” Musk remarked to U.K. Prime Minister Rishi Sunak.

“You can have a job if you want to have a job or sort of personal satisfaction, but the AI will be able to do everything.”

AI driven future

While acknowledging the discomfort this prospect may evoke, Musk expressed optimism about what he termed a “protopian” future driven by AI.

He described a world where AI serves as an unparalleled educational resource and ensures an abundance of goods and services for all.

Musk’s concept of “universal high income” appears to build upon the idea of universal basic income (UBI) advocated by other tech leaders, such as Sam Altman.

While the specifics remain unclear, Musk suggests that this concept would elevate individuals’ economic status, potentially serving as an equalizer in society.

This vision resonates with recent discussions around UBI, particularly in light of successful experiments like the expanded child tax credit in 2021.

The positive outcomes of such initiatives demonstrate the potential of direct cash payments to alleviate poverty and inequality without discouraging workforce participation.

Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.

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TikTok launches Instagram competitor ‘Notes’

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TikTok Notes has launched in Australia & Canada as a formidable competitor to Instagram, offering a unique platform for content creation, text and sharing.

“TikTok Notes is a lifestyle platform that offers informative photo-text content about people’s lives, where you can see individuals sharing their travel tips and daily recipes,” reads the official App Store description.

Take note

The app allows users to create content by combining short videos with text-based notes, closely resembling that of Meta’s Instagram.

Whether it’s sharing a quick tutorial, a personal anecdote, or a thought-provoking message, TikTok Notes is positioned to be a formidable social media platform.

Currently, the app is only available for download and “limited testing” in Australia and Canada.

As it gains momentum, the platform is poised to contest Instagram’s established reign in the social media landscape.

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Ramifications of a TikTok ban to impact Open Internet

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The United States’ longstanding advocacy for an open internet faces a critical juncture as Congress considers legislation targeting TikTok.

The proposed measures, including a forced sale or outright ban of TikTok, have sparked concerns among digital rights advocates and global observers about the implications for internet freedom and international norms.

For decades, the U.S. has championed the concept of an unregulated internet, advocating for the free flow of digital data across borders.

However, the move against TikTok, a platform with 170 million U.S. users, has raised questions about the consistency of America’s stance on internet governance.

Read more – Big tech to handover misinformation data

Critics fear that actions against TikTok could set a precedent for other countries to justify their own internet censorship measures.

Russian blogger Aleksandr Gorbunov warned that Russia could use the U.S. decision to justify further restrictions on platforms like YouTube.

Similarly, Indian lawyer Mishi Choudhary expressed concerns that a U.S. ban on TikTok would embolden the Indian government to impose additional crackdowns on internet freedoms.

Moreover, the proposed legislation could complicate U.S. efforts to advocate for an internet governed by international organizations rather than individual countries.

China, in particular, has promoted a vision of internet sovereignty, advocating for greater national control over online content.

A TikTok ban could undermine America’s credibility in urging other countries to embrace a more open internet governed by global standards.

 

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BlackRock CEO Larry Fink says AI leads to higher wages

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Larry Fink, the CEO of BlackRock Inc., has outlined his vision for the impact of the firm’s investment in artificial intelligence.

During the company’s recent earnings call, Fink emphasized the connection between productivity gains driven by AI and the potential for rising wages among BlackRock’s workforce.

He explained the firm’s ambition to leverage AI technology to enhance efficiency, enabling employees to accomplish more with fewer resources.

Fink’s remarks underscore BlackRock’s strategic approach to harnessing AI as a tool for optimising operations and driving organisational growth.

Read more – Australia’s productivity gap widens

By leveraging AI-driven productivity enhancements, the company aims to empower its employees to deliver greater value, thereby paving the way for wage increases across the organisation.

The CEO’s statement reflects a broader trend in the intersection of technology and labor dynamics, where advancements in AI and automation have the potential to reshape workforce dynamics and compensation structures.

Fink’s optimism about the transformative impact of AI investment on employee wages highlights BlackRock’s commitment to embracing technological innovation as a catalyst for sustainable business growth and employee prosperity.

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