Economic Policy Suggestions

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Educate and Train Workers for changes in the future  

The government should invest on the workforce education system in U.S. to equip the workforce with more comprehensive skills, skills that can’t be easily replaced by AI in the foreseeable future. For workers whose job might be at risk of being replaced by AI,  the government can design some career transition programs and courses that prepare those workers with better skills and coach them on job hunts. Those job transition training program should be designed with little barrier of access. To maximize the influence and increase accessibility, the government should design both physical job transition centers and online coaching programs.

Invest in Ai and Work with Private sector Leaders 

It is true that AI can increase efficiency and free up the labor force to a great extend. The government and the private sector should further collaborate on how to put those newly freed labor force into better use, along the way of improving societal and economical efficiency. By working together with leading adopters of AI through programs such as The Partnership on AI, the Government can focus on investing in AI in order to benefit from technological developments. As well as continue to tackle the emerging economic issues jointly with the support of businesses that know AI best.


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    AID WORKERS IN THE TRANSITION TO AI COMPLEMENTARY JOBS

    Since there will be a transitional period with the emergence of new technology it will be imperative for the government to provide assistance with the shifts in employment that will ultimately take place. This should come in the way of a strong social safety net that will make sure people who lose their jobs are still able to make ends meet. Furthermore, unemployment insurance will have to be strengthened in order to prevent families from slipping into poverty and to be able to counteract potential regional unemployment spikes. Finally job search assistance  as well as government sponsored job counseling services will be necessary to help individuals find employment at a more rapid pace. By implementing these programs the government could better prepare for the uncertainty of a future with AI.

    FACILITATE GREATER INTERNATIONAL COLLABORATION ON AI RESEARCH EFFORTS AND POLICY DEVELOPMENT

    While multi-stakeholder initiatives such as the Partnership on AI and International Joint Conference on Artificial Intelligence (IJCAI) exist within the private domain, there is greater opportunity for similar developments within the inter-governmental arena so as to complement the efforts of multilateral initiatives such as the recent formation of the UN Centre for Artificial Intelligence and Robotics. Specifically, greater international cooperation is required to extend beyond just knowledge generation and dissemination of AI technologies. Through the establishment of international standards these institutions can facilitate greater collaboration to mitigate the anticipated distributional consequences resulting from differences in the pace of technological development. It would likely be beneficial for the United States to assume an active leadership role in the formation and eventual governance of such institutions in order to preserve its credibility and influence as a global powerhouse, especially in light of the new administration’s shift in foreign policy in favour of lessened global engagement.