Sam Altman's basic-income study is out. Here's what it found.
Diversity, Inclusion & Equity Year in ReviewSummary
In 2019, Sam Altman, the CEO of OpenAI, and his team initiated a study to assess the effects of guaranteed basic income by providing 1000 low-income participants with $1000 a month for 3 years. They found positive impacts as those who received basic income were able to increase their spending on healthcare and basic needs (rent, transportation, and food, etc.), contribute more to their savings, and spend more on others. However, the results were inconclusive on whether basic-income improved mental and physical health.
The study was inspired by the broader debate on using guaranteed and universal basic income to mitigate the loss of some jobs due to AI in various cities. Similar to the study, smaller basic-income programs in these cities had positive effects on the people, but there is a continued emphasis for the need of institutional changes and government support for social services and housing.