In a world rapidly transforming under the weight of artificial intelligence (AI) and robotics, the debate over Universal Basic Income (UBI) is gaining momentum. As machines increasingly handle tasks traditionally performed by humans — from factory work and truck driving to financial analysis and legal research — millions of jobs are vanishing before our eyes. This isn’t a distant concern; it’s happening now, and the pressing question remains: how do we adapt our economy to ensure stability and equity in the face of this technological upheaval?
The Case for Universal Basic Income
A growing number of public figures and economists are advocating for UBI as a solution. The concept is straightforward: everyone receives a guaranteed monthly cash payment from the government, enough to cover the basics of living, with no strings attached. This financial safety net aims to decouple survival from employment, offering individuals the freedom to pursue education, entrepreneurship, or simply enjoy a life without the relentless pressure of making ends meet.
Critics argue that UBI could lead to inflation, increased taxation, or discourage work ethic. However, real-world examples, such as Alaska’s oil dividend and various global pilot programs, suggest otherwise. These trials show that people generally continue to work, start businesses, or invest in personal development, while also experiencing reduced stress and improved health.
Exploring Alternatives
While UBI has its proponents, other ideas are also circulating. Mark Garman, Professor Emeritus at UC Berkeley, proposes Universal Basic Capital. This approach would provide individuals with income-generating assets through a superfund, potentially creating long-term wealth and aligning more closely with market gains. Yet, this method introduces complexities, such as financial literacy education and asset management, that UBI neatly sidesteps.
Peter Diamandis, founder of XPrize, suggests Universal Basic Ownership, where everyone holds a stake in the companies driving the AI revolution. This model aligns public interest with technological progress and could democratize wealth creation. However, convincing established companies to distribute equity poses significant challenges, and ownership stakes alone may not cover immediate living expenses.
Meanwhile, OpenAI CEO Sam Altman envisions a future of Universal Extreme Wealth, where AI’s productivity reduces the cost of goods and services to near-zero, rendering money less necessary. While inspiring, this utopian vision is far from immediate realization, and society can’t afford to wait decades for it to materialize.
The Urgency of Now
Despite the allure of these alternatives, UBI stands out as the most pragmatic, immediate solution to the economic disruption caused by AI. It addresses three critical needs: liquidity, simplicity, and individual choice. People displaced by automation require immediate financial support to cover essentials like groceries and rent. UBI can provide this without the need for complex new systems. Moreover, it empowers individuals to make their own financial decisions, whether that’s paying off debt, pursuing education, or supporting their families.
The beauty of UBI is its flexibility. It doesn’t preclude the exploration of other models in the future. By establishing a financial safety net now, society can buy time to develop and test additional economic frameworks, such as investment capital, shared ownership, or crypto-based projects. UBI is the foundation upon which more ambitious economic transformations can be built.
Bridging the Wealth Gap
All these proposals share a common ethical foundation: they recognize that the immense wealth generated by AI shouldn’t be concentrated in the hands of a few corporate entities. To maintain social cohesion and prevent unrest, this wealth must be distributed broadly. UBI offers a viable path to achieving this, ensuring that no one is left behind as AI reshapes the economic landscape.
Contrary to misconceptions, UBI isn’t “free money” in the pejorative sense. It’s an acknowledgment that in a world where machines can produce most goods and services, human value cannot be tethered solely to employment. Direct cash payments are the fastest, most efficient way to ensure that AI’s benefits extend to everyone, not just those who own the technology.
The Path Forward
As the AI revolution unfolds, it’s imperative to make it work for all of us. UBI provides a practical and equitable means to navigate this transition, offering immediate relief to those affected by job displacement while paving the way for a more inclusive economic future. If implemented wisely, UBI could transform the dream of abundance, as envisioned by thinkers like Sam Altman, from a distant aspiration into a tangible reality. By embracing UBI, society can ensure that the AI-driven future doesn’t leave anyone behind, but instead becomes a shared journey toward prosperity and freedom.
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
