AI will bring in universal income and everyone will get wealthier

Oracle executive chairman and CTO Larry Ellison said at the Oracle AI World event in Las Vegas that widespread AI and robots will make people more productive, eventually lead to universal income, and require shifting from taxing human labour to taxing value-added tax returns. He predicted most cancers will be gone in five to ten years, with AI speeding drug discovery and distribution to lower prices, and said AI-enabled metagenomic tests can catch sepsis early. The International Labour Organisation disputed in a May report that government-funded universal basic income is the answer to AI's labour-market impact.