As the AI boom rages on, President Trump continues to muse about the U.S. government partnering with the AI industry so that Americans can get a piece of the action.<\/p>\n
When speaking with reporters gathered in the Oval Office, Trump recently said he plans to meet with the AI industry\u2019s top \u201c12 or 15 executives\u201d to talk about \u201cgiving back something to the public,\u201d The New York Times (1) reports.<\/p>\n
\u201cIf we do that, the public will become very rich.\u201d<\/p>\n
Must Read <\/p>\n
The White House did not immediately respond to a request for comment from Moneywise on which AI executives are expected to attend.<\/p>\n
It\u2019s the second time in a week that Trump suggested designing a way for Americans to directly benefit from the explosion in AI-related spending among U.S. tech companies and the anticipated profits. However, it\u2019s unclear how such an arrangement would be structured without significantly deepening the federal government\u2019s role in the private sector, which has long been anathema to Republicans.<\/p>\n
Trump first suggested the idea of a U.S. government stake in AI companies as a way to improve AI\u2019s lackluster standing among Americans at the beginning of June.<\/p>\n
\u201cThere are concepts where pieces could be given to the American public, where the American public essentially becomes a partner with the companies,\u201d said Trump, according to Politico (2). \u201cThe American people can benefit from the success of AI \u2014 and by doing that, they\u2019re going to like it better.\u201d<\/p>\n
Multiple surveys show mounting skepticism (3) among Americans about AI\u2019s benefits due to fears over job losses and frustration with surging electricity bills from an accelerated deployment of data centers. On the latter, seven in ten Americans are opposed to the presence of a data center (4) near their home, according to a Heatmap poll.<\/p>\n
AI is under Washington\u2019s spotlight <\/p>\n
NOTUS reported last week that AI executives were caught off guard (5) by Trump\u2019s announcement of a White House meeting.<\/p>\n
Some CEOs in the AI industry have become more active in Washington as policymakers grapple with how to police the AI industry. OpenAI CEO Sam Altman met with Senator Bernie Sanders of Vermont in early June to discuss AI regulation.<\/p>\n
\u201cThis is a real change to society,\u201d Altman told reporters, according to the Associated Press (6). \u201cI think it\u2019s possible both that people can use AI a lot and like using it and also have anxiety about what it\u2019s going to do for the future.\u201d<\/p>\n
Sanders recently rolled out a proposal for a one-time, 50% megatax on AI firms\u2019 stock (7), with the ensuing revenue placed in a sovereign wealth fund that would issue direct payments to Americans. The proposal would also nationalize AI companies with the U.S. government taking a controlling stake in their management and decision-making. Altman expressed support for an identical tax (8) that\u2019s payable in company shares and payments redistributed to Americans back in 2021.<\/p>\n
The Trump administration has also started moving forward with some optional guardrails. Trump recently signed an executive order (9) requesting tech companies to voluntarily allow the U.S. government a 30-day period for reviewing AI models before their public release.<\/p>\n
Read More: About 1 in 5 Americans over 50 has zero retirement savings \u2014 here’s the catch-up plan you can actually use<\/a><\/p>\n AI industry has ideas of its own <\/p>\n Altman\u2019s endorsement of a publicly-held wealth fund wasn\u2019t a surprise (10). In April, the company released a 13-page policy document that supported the creation of a public fund that issues payments to workers displaced by AI (11).<\/p>\n Anthropic CEO Dario Amodei also recently encouraged policymakers to take a fresh look at universal basic income in the event of mass job displacement.<\/p>\n \u201cIf AI-driven labor displacement ends up being large in magnitude and permanently drives down the demand for labor, it will likely be necessary to go beyond mere incentive programs to long-term income support for a significant fraction of the labor force,\u201d he wrote on his personal site (12).<\/p>\n You May Also Like <\/p>\n Join 250,000+ readers and get Moneywise\u2019s best stories and exclusive interviews first \u2014 clear insights curated and delivered weekly. Subscribe now.<\/a><\/p>\n Article Sources <\/p>\n We rely only on vetted sources and credible third-party reporting. For details, see our ethics and guidelines<\/a>.<\/p>\n The New York Times (1<\/a>), (7<\/a>); Politico (2<\/a>); NBC News (3<\/a>); Heatmap (4<\/a>); Notus (5<\/a>); Associated Press (6<\/a>); Sam Altman (8<\/a>); The White House (9<\/a>); Quartz (10<\/a>); OpenAI (11<\/a>); Dario Amodei (12<\/a>)<\/p>\n This article originally appeared on Moneywise.com<\/a> under the title: ‘The public will become very rich’: Trump wants Americans to get a cut of AI profits and some Big Tech CEOs are on board<\/a><\/p>\n This article provides information only and should not be construed as advice. It is provided without warranty of any kind.<\/p>\n","protected":false},"excerpt":{"rendered":"As the AI boom rages on, President Trump continues to muse about the U.S. government partnering with the…\n","protected":false},"author":2,"featured_media":701780,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[182,13011,181,507,968,35364,7047,149398,74,3123],"class_list":["post-701779","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-americans","tag-artificial-intelligence","tag-artificialintelligence","tag-president-trump","tag-robert-kiyosaki","tag-sam-altman","tag-senator-bernie-sanders","tag-technology","tag-white-house"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/701779","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=701779"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/701779\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/701780"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=701779"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=701779"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=701779"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}