AI dividend is policy gamble

A senior presidential official drew criticism for floating a populist policy idea of redistributing increased tax revenue to address the widening wealth gap in the age of artificial intelligence (AI). In a social media post on Monday, Kim Yong-beom, presidential chief of staff for policy, proposed what he called a “national dividend,” a concept involving direct cash payments to citizens funded by increased tax revenue from the booming AI industry. Shortly after media outlets reported on the post on Tuesday, the stock market experienced volatility. Korea’s benchmark KOSPI plunged as much as 5.1 percent before recovering a significant portion of its losses. Cheong Wa Dae later said the AI dividend proposal reflected Kim’s personal opinion, apparently seeking to downplay its significance. It added that the proposal had neither been reviewed internally nor discussed as a possible social policy. Nevertheless, Kim’s policy trial balloon caused a stir. Critics argued that his idea of distributing funds generated from the booming semiconductor industry resembled the rationing systems o

Original source: Korea Times