Elon Musk predicts AI will create universal high income

Billionaire Elon Musk He said on Wednesday that while Trump’s accounts set to launch next year are a nice gesture, he doesn’t think saving money will be necessary with “global high income” expected to prevail in the future.

Musk responded to a post by investor Ray Dalio, who announced that he was following Michael and Susan Dell in donating money to help set up so-called Trump Accounts, new savings and investment accounts created under the One Big Beautiful Bill Act for newborn and young Americans.

“It’s definitely a nice gesture from the Dells, but there will be no poverty in the future, so no need to save money,” Musk wrote in a post on X, his social media platform. “There will be global high income.”

Musk has said on several occasions that he believes so Artificial Intelligence (AI) Robots will eliminate poverty and the need for work, creating a global level of wealth.

Musk says AI and robotics are the “only” things that can solve the massive US debt crisis

The Tesla CEO spoke at the Viva Technology conference in Paris in May 2024, where in response to a question about whether he was worried about losing his job to artificial intelligence, he explained that he believed the most likely outcome was that Artificial intelligence and robotics It will eliminate the need for work.

“In a moderate scenario, probably none of us will get a job,” Musk said. “There will be universal high income – not universal basic income – universal high income. There will be no shortages of goods or services.”

Musk predicts that “money will cease to matter in the future” as artificial intelligence and robotics advance

Musk believes that artificial intelligence and robotics will eventually make work optional, where jobs will simply be a hobby. (Istock)

Musk said at the time that he believed there was an 80% chance that AI would lead to such a situation Humans wouldn’t need a job And they will have everything they need.

“The question is really going to be about meaning, how – if a computer can do everything, and robots can do everything better than you… does your life have meaning? That’s really going to be the question in this benign scenario, and in the negative scenario, all bets are off where we’re in big trouble,” Musk said.

Elon Musk expects artificial intelligence to replace all human jobs and lead to “global high incomes.”

Musk believes that artificial intelligence and robots have the ability to solve the American debt crisis. (Gonzalo Fuentes/Reuters)

He also said that he believes in the long term that “any job someone does will be optional,” and that this work will essentially function as a hobby.

“If you want to do something that’s like a hobby, you can do a job, but other than that, AI and robots will provide whatever goods and services you want,” Musk added.

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Musk has made other bold predictions regarding the transformative nature of artificial intelligence and robotics, including one in November that widespread adoption is the only thing that could solve the problem. US debt crisis And that “money will cease to matter in the future.”