AI could eliminate 100 million jobs from the US alone

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00:00AI could eliminate 100 million jobs from the U.S. alone.

00:04Senator Bernie Sanders is taking aim at the billionaire class, this time focusing on machines.

00:10The Vermont senator has proposed bold measures against what he calls one of today's biggest economic threats, AI automation.

00:17His report warns that AI and automation could destroy nearly 100 million U.S. jobs if left unchecked.

00:24At the heart of Sanders' argument is a familiar point. Workers are being left behind.

00:29Despite huge gains in technology and productivity since the 1970s, the average American earns about $30 less per week.

00:38Meanwhile, corporate profits have soared 370%. Machines got smarter, bosses got richer, and paychecks barely budged.

00:46Economists call it the productivity wage gap. Sanders calls it a rigged system.

00:51Enter his solution. A robot tax.

00:53Simply put, if a company replaces human workers with AI or automation, it pays a tax to support those displaced.

01:01Think of it as a financial seatbelt for the robot-driven future.

01:05The report calls it a direct excise tax on the technology, redirecting wealth from companies to the workers they've automated out of jobs.

01:13If that sounds familiar, it's because even Bill Gates has floated the same idea.

01:17Yes, the billionaire himself.

01:19Sanders' critics say this might mean his plan isn't as radical as it sounds.

01:23Still, his proposal echoes calls for a universal basic income, except targeted directly at workers affected by automation.

01:32Of course, there's the question of whether this robot apocalypse will even happen.

01:36AI isn't exactly minting gold yet.

01:3995% of companies adopting it are still losing money.

01:42But Sanders isn't taking chances.

01:44As he wrote in his book,

01:47It's okay to be angry about capitalism.

01:49If robots are coming for our jobs, it's time to make them pay union dues.

01:52OOKS

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02:04So, that's one of exactly what we say about this exactly if people want to pay the price shall based on how they do with Geld or complaining.

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02:07So,

02:07that's one of us,

02:08I'm only buying that for people's people in the image that the Soviet Union has started's tempo.

02:10In cannot lie.

02:10Because there's no fault.

02:11We strongly believe that everybody ignores a role because of it.

02:12I owe you that to his employees.

02:13Good to have powers that?

02:14I'm only doing that to have no difference in95 35% of the bodies.

02:16I'm adhering to nothing but earn any improvements in this universe

02:17for a wide complication.

02:18The Canadian principles that become technology in the entire lifeermal cultivate.

02:19It's important that out there that you got it.