Elon Musk Discusses AI's Role in Future Economy

Elon Musk, the CEO of Tesla and SpaceX, predicts that advancements in artificial intelligence and robotics will lead to a future where a universal high income is prevalent, eliminating the need for individuals to save money.

Musk commented on investor Ray Dalio's announcement regarding Trump Accounts, which are new savings and investment accounts for young Americans created by the One Big Beautiful Bill Act, describing them as a nice gesture but ultimately useless.

Speaking at the Viva Technology conference in Paris in May 2024, Musk stated that with AI and robots performing tasks more efficiently than humans, most people would not need to work, making jobs optional.

He claims there is an 80 percent probability that work will become a hobby rather than a necessity as machines take over various roles. Musk suggests that the societal focus will shift towards finding meaning in life, as computers and robots become capable of outperforming humans in virtually every task.

Additionally, he has mentioned that AI and robotics could be solutions to the U.S. debt crisis, predicting that money itself may become irrelevant over time. Musk envisions a future where working is likened to engaging in sports or video games, a choice rather than a requirement.

He continues to consolidate his business interests into this AI-driven vision, aiming for 80 percent of Tesla's value to come from his Optimus robots, despite facing production delays and executive departures.