Elon Musk’s predictions regarding the disappearance of cash in 10 to 20 years, as well as the obsolescence of cash, are based on upcoming advances in robotics and artificial intelligence.

According to the owner of X, Tesla, and SpaceX, among other companies, in one or two decades AI will be present in all sectors and industries, automating everything. Therefore, people will no longer need to go to an office or factory; that will be optional.

Regarding cash, with the rise of e-commerce and, logically, the use of credit and debit cards, biometric identification systems, and contactless payments, fiat money would become obsolete.

While Musk has ventured to make predictions like these in the past, sparking both support and opposition on social media, only time will tell what will happen to the labor market and cash in the coming years, as rapid technological and energy advancements will be required to make such predictions a reality.

M.Pino

Source: computerhoy

(Reference image source: Homa Appliances on Unsplash)

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