News Summary

Tom Steyer, a billionaire California gubernatorial candidate, has introduced a proposal to guarantee jobs with benefits for workers displaced by artificial intelligence (AI). His plan aims to make California the first major economy to ensure good-paying jobs to those impacted by AI, funded by a ‘token tax’ on big tech companies. This tax would contribute to the Golden State Sovereign Wealth Fund, supporting job creation in housing, healthcare, and energy infrastructure. Steyer’s initiative also includes expanding unemployment insurance and establishing the AI Worker Protection Administration to safeguard workers’ rights. This proposal comes amid efforts by lawmakers and some AI executives to mitigate AI’s impact on the workforce, highlighting a growing concern about AI-induced job displacement.