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🍽️ Will AI Eradicate Poverty?

Sam Altman has long supported the idea of a universal basic income.

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As our digital society continues to flourish and AI technologies advance at an unprecedented pace, we stand on the brink of not just technological, but also socio-economic transformation.

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Sam Altman has long supported the idea of a universal basic income.

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OpenAI CEO Sam Altman has proposed an innovative idea called "universal basic compute" to aid those facing financial struggles. This concept involves distributing a share of advanced AI compute power, which individuals can use, sell, or donate, offering a new form of value in a tech-driven world.

The Details:

  • Universal Basic Compute: Altman suggests that everyone receive a portion of GPT-7's compute power, which can be utilized, resold, or donated for various purposes like cancer research.

  • Value Beyond Money: The idea is that owning a part of an AI model's productivity could become more valuable than traditional currency, integrating AI deeply into daily life.

  • Universal Basic Income Experiment: Altman has previously supported universal basic income (UBI) and conducted an experiment starting in 2016, providing monthly payments to over 3,000 participants, with results forthcoming.

  • Guaranteed Basic Income Programs: Various cities and states in the U.S. have implemented guaranteed basic income programs, offering no-strings-attached cash payments based on need or status, with generally positive outcomes.

  • Conservative Opposition: Despite positive results, there is growing conservative opposition to these programs, viewing them as potential disincentives to work. Recently, a Texas court blocked a similar program in Houston.

Why It Matters:

  • Innovative Financial Aid: Altman's proposal introduces a novel form of financial assistance by leveraging advanced AI technology, potentially revolutionizing how value and productivity are distributed.

  • Tech-Driven Economic Shift: As AI becomes more embedded in society, concepts like universal basic compute could shift economic paradigms, emphasizing technological assets over traditional money.

  • Debate on Social Welfare: The mixed reactions to basic income and compute programs highlight ongoing debates about social welfare, work incentives, and the role of technology in addressing economic inequality.

  • Experimentation and Results: Altman's UBI experiment and similar programs provide valuable data on the effectiveness of these approaches, informing future policies and initiatives.


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A crypto exchange in Hong Kong used deepfakes to falsely present Elon Musk as its chief developer.

Image Credit: Getty

Scammers are increasingly using deepfake technology to deceive individuals, with recent incidents involving fake videos of Elon Musk promoting fraudulent cryptocurrency trading websites. This highlights the growing sophistication of scams and the dangers posed by advancements in artificial intelligence.

The Details:

  • Deepfake Scams: A group named Quantum AI or AI Quantum has been using deepfake videos of Elon Musk to trick people into investing in a fraudulent cryptocurrency trading service.

  • Official Warning: The Hong Kong Securities and Futures Commission issued a warning about this group's activities, identifying it as a front for virtual asset-related fraudulent activities.

  • Authorities' Action: Hong Kong police have shut down the group's websites and social media pages, but similar scams have occurred in other regions, including a notable case in South Korea.

Why It Matters:

  • Advancing Scam Technology: As AI technology advances, scammers are using sophisticated methods like deepfakes to create more convincing deceptions, posing significant risks to unsuspecting victims.

  • Erosion of Trust: These scams erode public trust in digital communication and high-profile individuals, complicating efforts to distinguish genuine information from fraudulent schemes.

  • Need for Vigilance: The increasing prevalence of deepfake scams underscores the importance of public awareness and vigilance in verifying the authenticity of digital communications and investment opportunities.

  • Regulatory Challenges: Authorities face growing challenges in tracking and shutting down these sophisticated scams, highlighting the need for enhanced regulatory measures and international cooperation.

  • Impact on Victims: The financial and emotional toll on victims of deepfake scams is significant, emphasizing the need for support systems and educational initiatives to help individuals recognize and avoid such frauds.

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