Artificial intelligence (AI) stands as a potentially transformative technology in human history. Its effects on everyday life in the United States are far-reaching. AI influences our economy, democracy, mental health, environment, and education. Concerns exist surrounding AI outpacing human intelligence, leading to autonomous operations that could have disastrous consequences.
The core question we face is not if AI will change the world but rather, who will control this future? Who will reap its benefits, and who will suffer its impacts? Will AI improve the lives of working families and promote better living standards? Can it help eradicate poverty, increase life spans, and combat climate challenges? Or will control lie with a select group of billionaires and tech leaders, further consolidating wealth and power without democratic input?
It’s important to recognize that artificial intelligence did not emerge spontaneously. The data and knowledge fueling generative AI stem from collective human contributions—books, music, artworks, journalism, programming, scientific studies, and more. This shared intelligence serves as the foundation of AI’s development.
Tech industry leaders often utilize this pooled knowledge without permission, acknowledgment, or compensation. Thus, the creative endeavors of various professionals and individuals have been exploited by some of the world’s wealthiest. Reclaiming this collective work is imperative.
In recognition of the communal nature of AI, any wealth generated by AI should benefit all of humanity. This wealth shouldn’t solely benefit figures like Elon Musk, Sam Altman, or Dario Amodei, nor should it enrich Silicon Valley investors or Wall Street financiers.
This understanding prompts the introduction of the American AI Sovereign Wealth Fund Act. The proposed legislation seeks to give the public a stake in major AI companies. It suggests establishing a sovereign wealth fund via a one-time 50% tax. This tax won’t target profits but rather payments in stock, a more valuable asset.