Fortune’s Alex Johnston mentioned Telescope as a concrete example that is pre-distributing the gains of automation through capital:
“A recent study by Telescope and Gallup found that while 99% of Americans have used an AI-enabled product in the last week, most have a negative view of AI’s potential impact on society, particularly on the availability of good jobs. In response, Telescope, an organization dedicated to ensuring new technology serves everyone, has developed the Telescope Tech Offset Program (TTOP). TTOP is creating a new financial instrument—an “AI Credit”—that allows businesses and government to pool resources and price the risk of tech-driven job transitions. Companies implementing AI that leads to displacement could purchase these credits, which would in turn fund a competitive marketplace of high-quality support services for workers, including retraining, education, and relocation assistance. This market-based mechanism directly answers the public’s call for both business and government to take responsibility for managing AI’s effects. A philanthropic investment in TTOP is a venture-style bet to build entirely new social and financial infrastructure, creating a self-sustaining system to manage one of the most profound economic transformations of our time.”
