Daily Trust· 2h ago· 1 min read
Elon Musk says Artificial Intelligence could radically transform the global economy within the next decade, predicting that by 2036, money may become far less important as AI and robotics make goods and services overwhelmingly abundant.
Speaking during an interview with The Economist editor-in-chief, Zanny Minton Beddoes, Musk argued that the value of money is tied to the scarcity of goods and services.
“You want money for goods and services. If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for?” he said.
Musk suggested that governments could support citizens financially during the transition to an AI-driven economy, proposing that national treasuries could simply issue payments directly to people.
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