'Tech tax' necessary to avoid dystopia, says leading economist

Exclusive: Jeffrey Sachs warns AI could lead to wealth being concentrated in the hands of a few thousand people

A "tech tax" is necessary if the world is to avoid a dystopian future in which AI leads to a concentration of global wealth in the hands of a few thousand people, influential economist Dr Jeffrey Sachs has warned.

Speaking to the Guardian, Sachs backed calls for taxation aimed at the largest tech companies, arguing that new technologies were dramatically shifting the income distribution worldwide "from labour to intellectual property (IP) and other capital income."