Elon Musk Foresees AI’s Role in Establishing Universal High Incomes

Billionaire Elon Musk recently commented on the upcoming launch of Trump accounts, which are designed to help newborns and young Americans save and invest. While he acknowledged the initiative as a positive gesture, he expressed skepticism about the necessity of saving money in a future where “universal high income” is expected to prevail.

Musk’s remarks came in response to investor Ray Dalio’s announcement about his contributions to these new savings accounts, created under the One Big Beautiful Bill Act. Musk stated, “It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to save money. There will be universal high income.”

On multiple occasions, Musk has asserted that artificial intelligence (AI) and robotics will not only eliminate poverty but also diminish the necessity for traditional work, leading to a universally affluent society.

MUSK SAYS AI AND ROBOTICS ARE ‘ONLY’ THINGS THAT CAN SOLVE MASSIVE US DEBT CRISIS

Tesla CEO Elon Musk believes AI and robotics will lead to a “universal high income” that negates the need to work. (Stefani Reynolds/Bloomberg via Getty Images)

During the Viva Technology conference in Paris in May 2024, Musk elaborated on his views regarding AI’s impact on employment. He suggested that the most probable outcome is that AI and robotics will eliminate the need for jobs altogether. “In a benign scenario, probably none of us will have a job,” he stated. “There will be universal high income – and not universal basic income – universal high income. There’ll be no shortage of goods or services.”

MUSK PREDICTS ‘MONEY WILL STOP BEING RELEVANT IN THE FUTURE’ AS AI, ROBOTICS PROGRESS

Musk believes that AI and robotics will eventually make work optional, with jobs serving as more of a hobby. (iStock)

Musk estimated an 80% likelihood that AI will create a scenario where humans won’t need a job and will have access to all necessary resources. He posed a thought-provoking question: “If a computer can do everything better than you, does your life have meaning?” This reflects the philosophical implications of a future dominated by AI.

ELON MUSK EXPECTS AI WILL REPLACE ALL HUMAN JOBS, LEAD TO ‘UNIVERSAL HIGH INCOME’

Musk views AI and robotics as having the potential to solve the U.S. debt crisis. (Gonzalo Fuentes/Reuters)

Musk further elaborated that in the long run, “any job that somebody does will be optional,” suggesting that work may become more of a leisure activity. He stated, “If you want to do a job as kinda like a hobby, you can do a job, but otherwise, the AI and robots will provide any goods and services that you want.”

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His predictions regarding the transformative impact of AI and robotics extend to addressing significant issues like the U.S. debt crisis, asserting that their widespread adoption is crucial for resolving such challenges and that “money will stop being relevant in the future.”

Billionaire Elon Musk recently commented on the upcoming launch of Trump accounts, which are designed to help newborns and young Americans save and invest. While he acknowledged the initiative as a positive gesture, he expressed skepticism about the necessity of saving money in a future where “universal high income” is expected to prevail.

Musk’s remarks came in response to investor Ray Dalio’s announcement about his contributions to these new savings accounts, created under the One Big Beautiful Bill Act. Musk stated, “It is certainly a nice gesture of the Dells, but there will be no poverty in the future and so no need to save money. There will be universal high income.”

On multiple occasions, Musk has asserted that artificial intelligence (AI) and robotics will not only eliminate poverty but also diminish the necessity for traditional work, leading to a universally affluent society.

MUSK SAYS AI AND ROBOTICS ARE ‘ONLY’ THINGS THAT CAN SOLVE MASSIVE US DEBT CRISIS

Tesla CEO Elon Musk believes AI and robotics will lead to a “universal high income” that negates the need to work. (Stefani Reynolds/Bloomberg via Getty Images)

During the Viva Technology conference in Paris in May 2024, Musk elaborated on his views regarding AI’s impact on employment. He suggested that the most probable outcome is that AI and robotics will eliminate the need for jobs altogether. “In a benign scenario, probably none of us will have a job,” he stated. “There will be universal high income – and not universal basic income – universal high income. There’ll be no shortage of goods or services.”

MUSK PREDICTS ‘MONEY WILL STOP BEING RELEVANT IN THE FUTURE’ AS AI, ROBOTICS PROGRESS

Musk believes that AI and robotics will eventually make work optional, with jobs serving as more of a hobby. (iStock)

Musk estimated an 80% likelihood that AI will create a scenario where humans won’t need a job and will have access to all necessary resources. He posed a thought-provoking question: “If a computer can do everything better than you, does your life have meaning?” This reflects the philosophical implications of a future dominated by AI.

ELON MUSK EXPECTS AI WILL REPLACE ALL HUMAN JOBS, LEAD TO ‘UNIVERSAL HIGH INCOME’

Musk views AI and robotics as having the potential to solve the U.S. debt crisis. (Gonzalo Fuentes/Reuters)

Musk further elaborated that in the long run, “any job that somebody does will be optional,” suggesting that work may become more of a leisure activity. He stated, “If you want to do a job as kinda like a hobby, you can do a job, but otherwise, the AI and robots will provide any goods and services that you want.”

GET FOX BUSINESS ON THE GO BY CLICKING HERE

His predictions regarding the transformative impact of AI and robotics extend to addressing significant issues like the U.S. debt crisis, asserting that their widespread adoption is crucial for resolving such challenges and that “money will stop being relevant in the future.”