The founder of top tech firms Tesla and SpaceX, Elon Musk, made another prediction about the future, this time suggesting that saving money might become irrelevant as artificial intelligence (AI) and robotics continue to evolve.
According to foreign media reports, Musk made the remarks while responding to a post on social media platform X. He said such a high volume of goods and services could be manufactured by machines that people wouldn’t have to work anymore to get what they need.
Traditional Concepts of Jobs and Income Could Change
If technology keeps progressing, it may completely overhaul the notion of work, wages and personal savings, says Musk.
His vision is that AI systems and robots can significantly improve productivity, potentially enabling the creation of products and services on a scale that has never been witnessed before. This may have major implications for economic systems and diminish the need for human workers in various fields.
The forecast instigates the wider debate over job security, money security, and the role of money in society as automation becomes more prevalent.
By 2036, the billions Musk has previously foretold could be worth nothing, as he becomes the first high-tech billionaire to truly become a billion-dollar billionaire.
In July, during an interview, Musk had predicted the same thing, pointing out that by 2036, people might have nothing to lose if production processes became much more efficient with the help of the world of AI and robotics.
He also predicted that artificial intelligence will be able to outsmart human intelligence in the next five years.
But these are only speculations about the future by Musk. It’s not yet clear how technology will affect the necessity of traditional jobs or how fundamentally it will change the role of money.
The implications of AI and robotics for employment, economic systems and daily life will depend on the way in which these technologies evolve and are adopted and adapted in society.
