Elon Musk says AI and robotics could make goods so abundant by 2036 that money may lose its importance, with deflation replacing inflation as the biggest economic challenge
Tesla and SpaceX CEO Elon Musk believes artificial intelligence could fundamentally reshape the global economy within the next decade, predicting that “money won’t matter in 2036” if AI and robotics make goods and services overwhelmingly abundant.
Speaking to _The Economis_t editor-in-chief Zanny Minton Beddoes, Musk argued that the value of money depends on the availability 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?”
However, Beddoes questioned how societies would transition to such a future, raising concerns over job losses, wealth inequality, and political instability.
She asked whether governments would need “massive redistribution”, higher taxes on capital, or even a universal basic income to support people displaced by AI.