Elon Musk has expressed the belief that saving for retirement in the future will become irrelevant due to the transformative effects of artificial intelligence and robotics, which he predicts will usher in an era of unprecedented abundance. The Tesla and SpaceX CEO shared his optimistic outlook during a discussion on the Moonshots with Peter Diamandis podcast, emphasizing that concerns about building a financial safety net for decades ahead may no longer apply.
Musk envisions a world reshaped by advancements in AI, robotics, and energy innovations, predicting that by 2030, AI will surpass the collective intelligence of all humans. He further anticipates the emergence of a society where humanoid robots outnumber people. In this scenario, traditional jobs, particularly white-collar roles, would gradually become obsolete.
He underscored that current AI technologies are already capable of performing more than half of tasks that don’t involve manipulating physical matter. This surge in productivity, according to Musk, will surpass even the highest expectations of abundance. Rather than relying on a basic universal income, Musk foresees a future where individuals could access virtually anything they desire, rendering the traditional relationship between earnings, savings, and quality of life irrelevant.
Musk suggested that within five years, AI will revolutionize medical care and eliminate limitations on the availability of goods, services, and educational resources. He has previously asserted that within 10 to 20 years, AI and humanoid robots will make employment optional and could render money itself obsolete. Musk draws parallels between work in such a world and leisure activities like playing sports or gardening—optional pursuits driven by personal interest rather than necessity.
However, Musk acknowledges the potential challenges of a future without the need to work for survival. While a high universal income might provide material abundance, it could also lead to societal unrest and a profound existential dilemma for individuals. He cautioned against assuming that such a future is inherently desirable, questioning whether having all needs met without purpose-driven work would be fulfilling.
Despite his optimistic projections about technological progress and its benefits, Musk remains mindful of the complexities such innovations could introduce into human life and meaning.
Photo credit: Instagram Elon Musk
Journalist / Writer/Nurse/Author and a Columnist with the Rheinpfalz Newspaper Grünstadt-Germany.
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