Majority of U.S. workers support an AI wealth fund as tech layoffs surge, survey finds

A significant number of American workers are advocating for increased corporate accountability through the establishment of an AI sovereign wealth fund. This shift in sentiment comes in light of escalating tech layoffs, which persist despite corporations reporting higher profits. According to a recent survey conducted by Verasight involving 1,690 adults, 69% of respondents expressed support for a proposal that would require AI companies to allocate 50% of their stock to a public sovereign wealth fund. Benjamin Leff, CEO of Verasight, noted, "Public perception views AI sovereign funds as a mechanism to redistribute the financial gains from the AI sector to society at large." This growing concern has been echoed by Senator Bernie Sanders, who introduced the American AI Sovereign Wealth Fund Act in June. If enacted, the legislation would grant the public a 50% stake in the largest AI firms across the nation. Sanders emphasized the importance of ensuring that the economic benefits generated by AI enhance the lives of all citizens, rather than merely enriching the wealthiest individuals. As tech layoffs continue to surge, many employees are left feeling anxious about job security, particularly as companies escalate their investments in AI technologies. A report from Goldman Sachs indicates that approximately 15 million workers—over 9% of the U.S. labor force—could be displaced during a decade-long transition to AI. Joseph Briggs, a Senior Global Economist at Goldman Sachs, remarked that this phase of automation may resemble the workforce disruptions seen in the late 1990s and early 2000s due to significant technological advancements. Despite these concerns, Briggs anticipates that the job losses will be temporary, citing the potential for AI to create many new employment opportunities in the long run. Sovereign wealth funds could play a pivotal role in shaping the future of AI by funding critical infrastructure and acquiring equity in AI enterprises, thereby enabling the public to benefit from the economic impact of AI innovations. However, managing these funds presents challenges, particularly in balancing public interest with the competitive global landscape of AI development. The research firm Windfall Trust has highlighted the potential conflict between the financial goal of maximizing returns for citizens and the strategic aim of advancing national AI capabilities, especially when the most lucrative investments may lie outside domestic borders.