The OpenAI Foundation invests $250 million in the first phase to hedge against the volatility of AI transformation, exploring inclusive distribution and sovereign wealth funds According to Beating monitoring, the non-profit OpenAI Foundation announced an initial commitment of $250 million to officially launch the "Economic Future in the AI Age" program, jointly led by Divya Siddarth and Wojciech Zaremba. The project focuses on how to provide a bottom line guarantee for the affected groups in the wave of AI rapidly impacting employment, and make the dividends created by technology accessible to the public. The foundation warns that artificial intelligence is lowering the threshold for key capabilities, leaving a very narrow window for humans to reconstruct the allocation mechanism, and the lag in response will cause profound shocks. The specific implementation path is divided into three major sections. Firstly, rebuild the accounting infrastructure, clarify how the wealth created by AI flows towards wages, corporate profits, and economic rents, and address the shortcomings of traditional gross domestic product (GDP) that cannot accurately calculate individual happiness and distribution rationality. Secondly, we will promote the exploration of social security during the transition period, fund on-site testing of new models such as unemployment benefits and wage subsidies, invest in helping the government accelerate public services with AI, and ensure that the benefits of low-cost technology are equally distributed to ordinary people. Finally, regarding long-term security, the project will fund AI to conduct multi-agent economic simulations, studying how to provide sustainable dividend distribution to the public through capital taxes, excess profit distribution mechanisms, or by referring to the Norwegian and Alaska models when automation accelerates and traditional wages are lost. The initial $250 million funding will be disbursed in batches through grants and academic partnerships, and the foundation is also forming a dedicated team to promote direct research and development. The first batch of initiatives is expected to be officially announced later this year. [Original link]