Larry Ellison says AI could enable a universal high income

Oracle co-founder Larry Ellison said artificial intelligence could eventually make people “healthier and wealthier” by raising productivity and lowering the cost of goods and services. He shared the view during a question-and-answer session at Oracle’s AI World conference, according to TechRadar.

Ellison rejected predictions that AI would replace everyone, calling that idea “kind of nonsensical.” He acknowledged that automation would displace some jobs, while arguing that its effects would vary by occupation. He cited autopilot as a decades-old technology that has not replaced human pilots, and noted his own pilot qualifications.

To explain his idea of a “universal high income,” Ellison described a hypothetical home built entirely by robots. He said human labor might account for 80% of a home’s cost, and that automation could make that portion cheaper. He proposed shifting taxes from human labor to value added by robots, with the revenue supporting higher incomes. He also referred to economist Milton Friedman’s negative income tax proposal as a possible way to distribute some AI-generated wealth.

Ellison said the change would require governments to adapt and could take more than a decade. The proposal is an ambitious vision; the source does not describe a concrete policy plan.