Artificial intelligence will almost certainly be the most transformational technology in the history of the world. It will profoundly affect the life of every man, woman and child in our country. It will bring — and is already bringing — unimaginable changes to our economy, our democracy, our emotional well-being, our environment and how we educate and raise our children. Further, there is a very real fear that as A.I. becomes smarter than humans it could eventually function independently, with potentially catastrophic consequences.

The question, then, is not whether A.I. will change the world. It will. The question is: Who will own and control that future? Who will benefit from it, and who will be hurt by it? Will A.I. be used to make life better for working families? Will it enrich our quality of life? Will it help us eliminate poverty, extend life expectancies and solve the climate crisis? Or will the future of humanity be determined by a handful of billionaires who have promoted and developed A.I., with virtually no democratic input, who stand to become even richer and more powerful than they are today?

That is the choice before us.

Let us be clear. Artificial intelligence was not created out of thin air. The data and language used by generative A.I. tools didn’t just pop into Sam Altman’s head or Elon Musk’s imagination. A.I. is built on our collective intelligence: our books, songs, artwork, journalism, computer code, scientific research, videos, conversations, images and ideas spanning generations. That is not just the opinion of Bernie Sanders. According to Mr. Altman, the head of OpenAI, A.I. models were trained on our “collective experience, knowledge” and “learnings of humanity.”

For the most part, tech oligarchs have fed this knowledge into their A.I. models without permission, without acknowledgment, without compensation. In other words, the creative work of millions of people — writers, artists, musicians, journalists, teachers, scientists and ordinary citizens — has essentially been stolen by some of the wealthiest people in the world. It’s time for us to reclaim it.

Since A.I. is built on the collective knowledge of humanity, the wealth it generates must benefit humanity. Not just Mr. Musk, Mr. Altman, Dario Amodei and other moguls whose companies are positioned to dominate the industry. Not just venture capitalists in Silicon Valley or money managers on Wall Street who undoubtedly see A.I. as the next great wealth-extracting machine.

That is why I will soon be introducing the American A.I. Sovereign Wealth Fund Act. This legislation would give the public a direct ownership stake in the largest A.I. companies in our country. How? It would create a sovereign wealth fund through a one-time 50 percent tax — not on the profits of OpenAI, Anthropic, xAI and other companies, but paid with something far more valuable than that: the stock.