Elon Musk: AI Will Make Savings Useless
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Elon Musk claims that AI and robotics will make saving unnecessary and give rise to a "universal income" that will allow people to obtain everything they desire. He predicts a surpassing of aggregated human intelligence by 2030 and an increase in the number of robots exceeding that of humans, while American indicators show households already strained by inflation and stagnant wages.
In the United States, inflation and wages hinder saving
According to Fortune, many Americans are struggling to save. The media highlights that inflation remains high and wages are stagnant, which weighs on households' ability to set aside money.
Musk announces the obsolescence of saving, wages, and social protection
Elon Musk believes that saving for retirement or in anticipation of hard times is no longer necessary due to the expected advancements in artificial intelligence and robotics. He advises against worrying about saving for retirement in 10 or 20 years, deeming it irrelevant. According to him, each person will have a "universal income that allows them to obtain everything they desire" in the future, rendering the concepts of salary, saving, and social protection obsolete, with unrestricted access to healthcare, goods, and services.
Capabilities attributed to AI, more robots, and the 2030 deadline
Elon Musk predicts that artificial intelligence will surpass the intelligence of all humans combined by 2030. He also anticipates that humanoid robots will outnumber human beings and that traditional jobs will gradually be replaced. He asserts that, except for manipulating atoms, AI can already accomplish half or more of human tasks. He describes these developments as a "supersonic tsunami" of technology, heralding productivity gains that would exceed any current conception of abundance.
A statement on the microphone of Peter Diamandis
These statements were made by Elon Musk during the podcast Moonshots with Peter Diamandis. The entrepreneur, head of xAI, shared his vision of the forthcoming effects of artificial intelligence and robotics.
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