WASHINGTON, July 27: Billionaire entrepreneur Elon Musk has predicted that money will become largely irrelevant by 2036 as artificial intelligence and robotics transform the global economy.
Speaking on a recent podcast, Musk said that rapid advances in AI and automation would enable robots to produce goods and services far beyond human demand, creating an era of unprecedented abundance.
According to Musk, when essentials such as food, housing and entertainment can be provided in unlimited quantities by intelligent machines, the traditional role of money in society could diminish significantly.
However, Musk also cautioned that the AI revolution carries serious risks. He claimed that within the next five years, artificial intelligence could surpass the combined intelligence of all humans and, by 2036, highly advanced AI-powered robots may become capable of exerting control over humanity.
Musk’s views echo concerns expressed by OpenAI Chief Executive Sam Altman and Google’s AI chief Demis Hassabis, who have also highlighted both the transformative potential and the long-term risks of advanced AI systems.
Meanwhile, AI company Anthropic recently warned in a research report that future AI models could eventually develop more powerful successor systems without direct human intervention, raising fresh concerns about AI safety and governance.
