Technology Brief: Rethinking the social compact in the AI age - Is a social investment stipend better than a universal basic income?

Abstract

The AI revolution is changing the fundamental nature of work. Opportunities are polarising between high- and low-skill jobs, unemployment and underemployment especially among young people, and worsening income inequalities. This poses questions about how the social contract will change and how the adverse consequences can be mitigated. One idea that has gained momentum in the mainstream is the universal basic income (UBI); another idea is that of the social investment stipend (SIS).