Former President Barack Obama told an assemblage of youth leaders at McCormick Place on Friday that vast changes in the nation and world’s economic structure are needed to deal with artificial intelligence, climate change and income inequality.
But Obama, speaking to the Democracy Forum of his presidential foundation, also said that while progressives “obsess” over the economy in terms of “material measures of progress” involving wages, taxes, trade balances and gross domestic product, they also must expand their view to include “that which makes life worthwhile.”
“At a time when our bonds of trust are growing weaker, at a time when we are drowning in stuff and people seem deeply anxious and unfulfilled, we need a new generation of heroes to strengthen our bonds of trust, to create an economic system that supports and sustains those things that matter — including our democratic values,” the former president said.
Obama noted concerns over the growing emergence of AI and its potential effects on society and the workplace, but said change and disruptive technologies “are not going away.”
“It’s hard to find an instance in human history where something’s invented and isn’t used. Whether that’s the printing press or gunpowder or a computer. In fact, technological disruptions are only going to accelerate as AI models get more sophisticated,” he said.
“So the question isn’t how to stop these advances from happening completely. It’s how to make sure that they’re subject to public debate. And to consider public safety and welfare concerns and that the benefits of these new technologies flow to everyone and that they’re accessible,” he said.
If AI eliminates entire categories of jobs, “we may need to consider bigger changes and we should start talking about things like a shorter workweek or a universal basic income” as well as shifting people to jobs that can’t be automated like those in child care, health care and education, he said.
More broadly, Obama talked about the need to provide a “safety net” for basic needs. “Not only does it relieve hardship, not only does it strengthen our democracy, it can also empower people to be more productive and raise their ambitions and set an example for their children,” he said. “And that benefits all of us and that benefits the economy and that benefits business.”
Obama also said growing public support for unionization should lead to action in a nation that saw the percentage of private sector union jobs drop from 33% in the 1950s to 6% currently.
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Noting victories achieved by the United Auto Workers following strikes against the nation’s Big Three auto manufacturers, he said unionization efforts in the service sector should go beyond wages and traditional benefits to include “creative ways to meet the needs” of new workers, such as continuing education and affordable child care.”
Obama said corporations also should reexamine the traditional role of increasing shareholder value.
“Corporations are perfectly capable of operating efficiently and profitably while considering the impact they have on their workers and on their communities and on the planet and on our democracy,” he said, noting the younger generation is showing a greater interest in evaluating purchases from companies based on social issues.
“We’re starting to see a noticeable shift in how corporations talk about their mission. Our job is to make sure their talk is matched by action,” Obama said.
“I stand here convinced that it is within our power, or more specifically, within your power to make this world better. That’s what this democracy is all about. It’s an affirmation of our shared unyielding belief that war and racial division and religious conflict and poverty and hunger and catastrophic climate change are not inevitable,” he told the audience.
“We’re here because we believe that humanity can bridge our differences and make better choices, that we can see each other and listen to each other, and imagine each other’s hardships and pain.”
Obama’s return to his adopted hometown for the forum was in conjunction with days of parties celebrating his 15th anniversary of his first presidential election and victory speech in Grant Park, culminating in a Friday night event for hundreds of alumni of his campaign and administration.
