Universal Basic Income (UBI) in the Age of Automation

Sarai Hannah Ajai's article examines the potential societal impact of Artificial General Intelligence (AGI) and robotics on the labor market. Ms. Ajai argues that Universal Basic Income (UBI) is a crucial solution to address widespread job displacement caused by automation. The article explores the potential benefits of UBI, such as increased economic security and reduced inequality, alongside the challenges of implementation, including funding mechanisms and the need for complementary social programs. Ultimately, the author advocates for UBI as a means of fostering a more equitable and stable future in a post-labor society.

Title: The Future of Work and the Role of Universal Basic Income: Ensuring Stability in a Post-Labor Society

Written By: Sarai Hannah Ajai

Here is a summary of Ms. Ajai Article.

The advent of Artificial General Intelligence (AGI) and robotics promises to revolutionize the global economy. With automation gradually taking over a vast array of human labor from manual jobs in manufacturing to complex tasks in fields such as healthcare, legal services, judiciary system and even creative industries, societies face the prospect of a future where human work is no longer the primary source of wealth creation. The rapid pace of technological advancement raises an urgent question: How will societies continue to function when traditional labor markets become obsolete?

In this context, Universal Basic Income (UBI) has emerged as one of the most debated and potentially transformative solutions. UBI promises to provide every citizen with a guaranteed income, regardless of employment status, offering a lifeline in a world where jobs are increasingly replaced by machines. This article explores the relationship between automation and economic stability, the role of UBI in addressing these challenges, and how this concept could reshape society as we know it.

The Decline of Traditional Labor: A Future Shaped by AGI and Robotics

Historically, labor has been the foundation of economic exchange. In ancient times, barter systems were the primary mode of trade: one person might exchange pottery for boots, another might trade grain for cattle. As societies grew more complex, the need for a universal medium of exchange led to the rise of money, which facilitated trade and allowed economies to expand. Money became the mechanism by which goods and services could be priced and exchanged in an increasingly interconnected world.

However, with the onset of AGI and robotics, we are entering a new era where traditional labor is no longer necessary for wealth creation. Automation technologies ranging from AI-powered robots on factory floors to software that can complete legal contracts, process judiciary courts cases and diagnose medical conditions are eliminating jobs across a vast array of industries. Even skilled professions that were once considered immune to automation, such as doctors, lawyers, and financial analysts, are now at risk of being replaced by intelligent systems capable of performing tasks faster, cheaper, and more efficiently than any human worker.

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