AI Will Do Most Jobs 'Better, Faster, Cheaper': Silicon Valley Billionaire Vinod Khosla Calls For Universal Basic Income

Silicon Valley billionaire and venture capitalist Vinod Khosla has issued a bold prediction: artificial intelligence (AI) will replace most human jobs over the next 25 years. 

In a recent blog post, Khosla wrote about the implications of AI and warned that "80% of 80% of all jobs, maybe more, can be done by AI, be it primary care doctors, psychiatrists, sales people, oncologists, farmworkers or assembly line workers, structural engineers, chip designers, you name it."

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Khosla's experience gives weight to his predictions. He cofounded Sun Microsystems and has invested heavily in tech giants like Amazon, Google and OpenAI. He has also spent over four decades studying disruptive technology and believes that AI will do most jobs "better, faster and cheaper" than humans, drastically changing the labor market. 

A World Without Jobs

According to his blog, Khosla says that AI will create a world where human labor isn't necessary for most tasks. It can assist with and perform tasks like assembly line work, investment banking and even medical diagnosis. 

The warnings Khosla discusses surrounding AI aren't meant to spread fear but to advocate for proactive solutions as our world heads in this direction. He talks about the risk of an "economic dystopia," where wealth becomes increasingly concentrated at the top – more so than it is now – and both intellectual and physical labor lose their value. 

Khosla states that if governments don't proactively identify this problem and devise solutions for AI taking over jobs, millions could face unemployment. 

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The Case for Universal Basic Income (UBI)

According to Khosla, universal basic income (UBI) is one solution to the looming AI job crisis. UBI is a government program that regularly provides every adult citizen with a set amount of money to help alleviate poverty. 

Khosla believes that UBI will become essential as AI replaces jobs. It can provide a safety net for those whose jobs become automated. "As AI reduces the need for human labor, UBI could become crucial, with governments playing a key role in regulating AI's impact and ensuring equitable wealth distribution," he wrote.

The concept of UBI isn't new, but it has gained renewed attention as automation accelerates. Khosla joins a growing list of Silicon Valley figures, including Sam Altman and Mark Zuckerberg, who advocate for UBI to cushion the economic disruption caused by AI.

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A Shorter Workweek and More Meaningful Life

While Khosla spoke about AI’s challenges, he also presented several upsides, one of which is a shorter workweek. He envisions a world where AI handles mundane, labor-intensive jobs, freeing people up to take on more fulfilling activities. He believes that with the right policies, AI could bring about a three-day workweek, where people can focus more on hobbies, spend time with loved ones and enjoy life more. 

"Life won't become less meaningful once we eradicate undesirable, toil-intensive jobs," he wrote. "Quite the opposite – life will become more meaningful as the need to work 40 hours per week could disappear within a few decades for those countries that adapt to these technologies."

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Balancing AI Innovation and Regulation

According to CNN article, Elon Musk has consistently voiced concerns that AI could pose an existential threat to humanity, despite his company, xAI, developing a generative AI chatbot. Musk supported a proposed California bill designed to address catastrophic risks of AI systems becoming uncontrollable. However, Governor Gavin Newsom vetoed the bill, citing potential harm to innovation. Musk's worries align with suggestions that AI regulation might feature in future executive orders.

Within Trump's circle, opinions on AI regulation vary. JD Vance, the incoming vice-president, warned that excessive regulation could solidify dominance for established tech giants, stifling new innovators crucial for American growth. Interestingly, Musk's Tesla, a major tech player, is heavily invested in AI. The company highlighted its commitment to AI advancements in its latest earnings report, emphasizing its role in shaping the future of innovation.

Musk's dual stance highlights the tension between advocating for AI safety and fostering AI-driven progress.

This story was previously reported and have been updated to reflect post-election players in AI.

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