The CEO of Google DeepMind believes that AI will generate massive gains for tech companies, raising questions about how the wealth could be redistributed to everyday people.
In a new interview on the 20VC podcast, Demis Hassabis believes that one way people could capture the upside potential of AI is by participating in pension funds or sovereign wealth funds.
According to Hassabis, large pools of capital could play a major role in wealth redistribution.
“I think there are different ways that could play out. So, maybe pension funds should be buying into all the big AI companies and making sure that everyone gets a piece of that, or sovereign wealth funds. Maybe every country should have a sovereign wealth fund that does that. That would be the investment way of doing it.”
Aside from investments, Hassabis says AI could deliver scientific breakthroughs that could ultimately lead to free renewable energy for all.
“I mean, there could be unbelievable things happening in the five to 10-year time scale, including a breakthrough in some kind of renewable free energy. Maybe we solve fusion… I think AI is going to usher in, maybe we have amazing new superconductors, better batteries, material science.”
Last year, OpenAI CEO Sam Altman suggested that people can share in the wealth generated by AI by receiving substantial amounts of tokens from tech giants, instead of cash. People can subsequently use those tokens to pursue their own projects or trade the tokens for cash.
Featured image: Jay Dixit
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