As we look at job losses from AI, futurists are predicting big social changes. Like when the industrial revolution took us from an 80 hour work week to a 40 hour work week, this technological transformation could take us from a 40 hour work week to only 20 hours of work per week.
There could be a financial overhaul, too. Universal basic income sets a floor for everyone, whether they are working or not. Companies and higher income people would be taxed to cover a monthly payment to citizens for food, housing, and living expenses. The newest push for Universal Basic Income is from leaders in Silicon Valley who can see how their products will eliminate workers but know they still need customers to purchase their products.
Alaska has the oldest model of Universal basic income. Since the early 1980s, each person (adults and children) receives roughly two grand per year from the State.