Ellison suggests governments may need to tax value added by automation as AI and robots displace some jobs like driving.
He also suggested that governments may need to rethink taxation as AI systems and robots generate more economic value. One possibility, he argued, would be to tax value added by automation rather than relying primarily on taxes linked to human labour.
All statements by Larry Ellison ›
Ellison has said AI will enable personalised cancer vaccines produced within 48 hours.
Larry Ellison, the chief executive of AI giant Oracle, has said that the technology will enable the creation of personalised vaccines against cancer, produced in 48 hours.
Ellison argues governments should shift from taxing human labor to taxing value added by robots, funding a universal high income.
We need to change from taxing human labor to taxing value added," he said. "So when the robots add value, all that value that the robots add is taxed, and we could have universal high income.
Ellison dismisses predictions that AI will replace everyone as nonsensical, saying it will mainly make workers more productive.
I think that's kind of nonsensical,
Ellison envisions taxing robot-generated value to distribute AI-created wealth broadly, making everyone wealthy.
The robots are adding value. The government's taxing the value... We all become wealthy as a result.
Ellison says Oracle decided to use AI to make its applications, including the Healthcare Suite, far more capable.
We decided to use AI to make our applications much more capable.