Nearly 70% of Americans Support AI Sovereign Wealth Fund Amid Job Displacement Fears

As artificial intelligence (AI) rapidly advances, a growing number of Americans are advocating for a more equitable distribution of the economic gains generated by the technology. A recent national survey reveals that nearly 70% of U.S. adults support the creation of an AI sovereign wealth fund.

The poll, conducted in June by research firm Verasight, surveyed 1,690 U.S. adults. The findings indicate widespread public sentiment that AI companies should be legally required to transfer 50% of their stock to a public sovereign wealth fund. This initiative is viewed as a mechanism to ensure that the economic prosperity driven by AI benefits a wider segment of society, rather than concentrating wealth among a select few.

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The public generally views AI sovereign wealth funds as a tool for redistributing AI industry profits, hoping that the economic outcomes of AI development will benefit society more broadly, not just a select few.

This public sentiment aligns with legislative efforts, such as the "American AI Sovereign Wealth Fund Act" recently introduced by Senator Bernie Sanders. If enacted, this bill would grant the U.S. public ownership of 50% of the equity in major domestic AI corporations. Senator Sanders has emphasized that the economic advantages derived from AI should be used to improve the lives of all citizens, not just to further enrich the wealthiest individuals globally.

Simultaneously, the tech industry's significant wave of layoffs in recent years has amplified anxieties among workers regarding future employment stability. Despite substantial investments in AI by corporations, many employees fear that automation technologies could render their current positions obsolete. Economists predict that the ongoing AI transformation could significantly impact the global labor market over the next decade, potentially putting millions of jobs in the U.S. at risk of displacement. While some experts suggest these job losses may be temporary, with AI potentially creating new roles in the long term, the immediate concern for many remains job security.

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The economic benefits created by AI should be used to improve the lives of all people, not to further enrich the world's wealthiest individuals.