A project backed by OpenAI founder Sam Altman recently finished a landmark study on basic income in the United States---marking the largest research on the topic ever conducted in the country.
Over the past three years, the AI startup has worked with researchers to give people living below the poverty line unconditional cash payments.
Specifically, the study gave 1,000 people between the ages of 21 and 40 from Texas and Illinois monthly stipends of $1,000. The study also gave 2,000 other participants who were part of the "control group" monthly cash worth $50.
Initial results published by OpenResearch, an Altman-funded research lab, showed that low-income participants who received the $1,000 cash made extra spending toward basic needs, including food, rent, medical care, and transportation. In addition, participants who received the $1,000 monthly stipend worked less on average and were more deliberate in their job searches.
"Recipients had greater agency to make decisions that worked best for their lives and to prepare for the future, from moving neighborhoods to expressing interest in new business ventures," the report read.
Furthermore, the study found that those who received $1,000 cash monthly offered financial support to others in need. Some also said they considered launching startups.
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How Did the $1,000 Stipend Affect Their Access to Healthcare?
Despite finding increased spending on medical care, researchers said they did not find any "direct evidence of improved access to healthcare or improvements to physical and mental health" among individuals who received $1,000 in monthly payments.
The researchers also noted that while there was a significant reduction in stress and food insecurity among participants who received the $1,000 payments, the effects only lasted during the first year and faded out in the study's second and third years.
"Cash alone cannot address challenges such as chronic health conditions, lack of childcare, or the high cost of housing," the researchers added in the report.
The study was inspired by Altman's belief in the importance of basic income, especially in the age of AI. The study assessed quantitative and qualitative data to determine the results.
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