Artificial intelligence (AI) is set to become a major transformative force globally. It impacts every aspect of life in the U.S. and beyond, including the economy, democracy, environment, and education. As AI evolves, concerns arise about its potential to operate independently, possibly causing severe issues.

A crucial question arises: Who will control AI’s future? Finding out who benefits and who suffers from AI’s deployment is essential. Will AI enhance life for working families, improve living standards, reduce poverty, extend lifespans, and help solve environmental challenges? The fear exists that decisions about humanity’s future might lie with a few wealthy individuals steering AI’s promotion and development.

AI isn’t an abstract creation; it’s based on collective human knowledge. AI tools derive their data from books, music, art, journalism, research, and more, which represent generations of accumulated ideas. Even Sam Altman, OpenAI’s leader, acknowledges this reliance on human experience and knowledge.

Tech giants have used this shared knowledge to build AI models without due consent, recognition, or compensation. This situation has resulted in the exploitation of creators’ works by some of the wealthiest individuals globally. It’s critical to reclaim AI as a collective asset.

The wealth AI produces should benefit everyone, not just a few tech moguls or investors. To address this, a legislative initiative dubbed the American AI Sovereign Wealth Fund Act will soon be introduced. This act suggests public ownership stakes in significant U.S. AI companies through the establishment of a sovereign wealth fund. This fund would emerge from a one-time 50% tax paid not with money but in valuable company stock.