Former Democratic presidential candidate Andrew Yang warns that artificial intelligence could fuel economic inequality at an 'epic, unprecedented scale.' In an interview on The New York Times' 'Hard Fork' podcast, he argued that the technology, compounded with the current U.S. economy, would create vast disparities.
Yang predicted the emergence of America's first trillionaire as top earners grow wealthier, while many families struggle. 'My kids studied hard, there's no job, they have these school loans, they're in my basement, they're getting depressed,' he said, describing a scenario already unfolding for some households.
He stated that a universal basic income policy would be 'necessary' to address these issues. Yang previously championed UBI—a program where the government provides a regular cash payment to all citizens—during his 2020 presidential campaign.
AI-related layoffs are already hitting the U.S. job market, according to recent reports. Yang's comments reflect growing concerns about automation's impact on employment and wealth distribution, though specific data on job losses was not provided in the interview.
Critics of UBI argue it is costly and may disincentivize work. Others contend that retraining programs and targeted social spending could be more effective than a universal cash distribution.