AI Promises Wealth, Health for All

Oracle co-founder Larry Ellison has projected a future where artificial intelligence and robotics could significantly enhance global well-being, stating AI will eventually make everyone "healthier and wealthier." Speaking at the company's AI World conference, Ellison addressed concerns about AI-induced job losses, comparing the impact to autopilot technology, which hasn't replaced pilots. He contends that AI will primarily increase human productivity, enabling advancements previously unattainable.

Ellison suggested that AI and automation would reduce the cost of goods and services, citing a hypothetical scenario where robots build a house at a fraction of the human labor cost. This economic shift could pave the way for a "universal high income." To fund this, he proposed a taxation overhaul, shifting from taxing human labor to taxing the value generated by AI and robots. This, he believes, would redistribute the wealth created by automation, leading to widespread affluence.

This ambitious vision, requiring over a decade for implementation, necessitates a substantial transformation in economic and governmental systems. Ellison remains optimistic, asserting that the creation of AI-induced human wealth with less work is achievable. The tech sector, however, has seen over 135,000 layoffs in 2026 alone, including thousands of Oracle workers between June 2025 and June 2026, highlighting current economic pressures.