Sen. Bernie Sanders, possibly just like you, has been thinking a lot about AI. The technology has the possibility of reaching into our everyday lives if it hasn’t already, and he wants to make sure Americans get some positive financial impact in addition to any other.
“AI and robotics will impact every man, woman, and child in this country,” Sanders said on a phone call with Fortune and other reporters on Thursday, pointing to the predictions that the technology will bring about massive job loss, undermine privacy rights, and worsen children’s mental health.
For weeks, the senator has been teeing up interest in his plan to give Americans 50% ownership in the biggest AI companies. On Thursday, he introduced legislation for the American AI Sovereign Wealth Fund Act and unveiled the details of his plan to get Americans a more direct say in the future of AI.
“AI is built on the foundation of human knowledge of the work of millions and millions of people. Every tweet that you send out, every email that you send out, every article that you write, that’s part of AI. The American people should be able to stop what’s bad and benefit from the financial gains of AI,” he said.
A sovereign wealth fund is a state-owned investment vehicle that manages national public assets. Several states, including Texas and New Mexico, have had sovereign wealth funds for decades and have used them primarily to fund education. Similarly, 67 countries have sovereign wealth funds, according to the bill, including Norway, China, and the United Arab Emirates.
