With AI challenging to take our jobs, it's now very much required to have a universal income concept. The concept is simple, everyone will get a fixed amount every month for their monthly expenses. The monthly expenses number can be decided based on the location, household income etc. But again it has to be there.
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I know in 1st world countries there is a concept of social security and it helps them to get some money from the government. If AI takes their job, they will get some security from the government. But this concept is not there in 3rd world countries. The problem is per capita income in the 3rd world countries is quite low and thus a lot of people cannot survive in that income. And that's why people usually try to save as much as possible so that they can create their own security for their as well as for their children.
But again if the AI is coming into picture, it will take jobs from every where. And thus the social security number should be a priority and not only in the 1st world country but in 3rd world country too. For example, in $500 a month, a lot of people in India can stay lavishly. And if $500 becomes a social security number, then there will be no issue itself. Now in some countries its even $100 and some countries its $2500. Now governments have to decide that now itself before it becomes top late.
The unemployment is on the peak. I know people doesn't want to work if they get the money sitting at home and that's why there should be some criteria for giving that universal income which they can think about. But since AI will be doing the work, there will be no work left to do.
