Elon Musk predicts a loss of interest in money by 2036 as a consequence of the increasingly rapid adoption of artificial intelligence in daily life.

In 10 years, machines will cover basic needs in various areas of human life, giving people more time to dedicate to creative activities, without worrying about money and survival through work as they have until now.

According to the tech magnate, “the impact of artificial intelligence and robots on the global economy is no longer exclusive to technologists and economists.” Musk says that by 2036, “automation will be so advanced that scarcity will no longer be an issue and abundance will be the norm.”

The owner of SpaceX, Starlink, Tesla, and the social network X made this statement in an interview with Zanny Minton Beddoes, editor-in-chief of The Economist. He added, “If robots and AI can produce more goods and services than any one person could consume, money will no longer be necessary.”

According to his vision, work will be optional, and access to goods and services will be virtually unlimited. “There will be a universal high income. Work will be like gardening: you don’t have to do it, but you might want to.”

When asked about the future of businesses if people stop paying for goods and services, Musk pointed out that automated production will outstrip demand to such an extent that money will no longer be necessary.

This is an ambitious prediction that even involves the National Treasury issuing checks directly to citizens, “eliminating concerns about inflation, since production would grow at a rate sufficient to keep prices stable or even promote deflation.”

Utopia or provocation? We will have to wait and see how AI and other technologies will affect life on the planet in the coming years.

M.Pino

Source: infobae

(Reference image source: Simon Kadula on Unsplash)

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