Billionaire entrepreneur Elon Musk has predicted that money could become far less important by 2036 if advances in artificial intelligence and robotics enable the production of more goods and services than people could ever consume.
According to Musk, rapid progress in AI and automation could create an era of unprecedented abundance, where intelligent machines perform most forms of work and produce goods and services at a scale that significantly exceeds human demand.
He suggested that in such a future, traditional economic models centered on scarcity and income may be fundamentally transformed, potentially reducing the importance of money in everyday life.
Musk has long argued that artificial intelligence will dramatically reshape industries, employment and the global economy, while also emphasizing the need to ensure the technology is developed and deployed responsibly.
His latest prediction has sparked renewed debate among economists, technology experts and policymakers over the future of work, wealth distribution and the role of AI in society.
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