Elon Musk’s AI-Powered Vision for a Future Without Money

Elon Musk envisions an AI-driven future where money is abolished, employment transforms into optional hobbies, and poverty disappears entirely.

A Revolutionary Perspective

During the U.S.-Saudi Investment Forum, alongside Nvidia CEO Jensen Huang, Musk outlined a broad vision of a world radically altered by robotics and artificial intelligence. In this future, currency loses its relevance, and work is treated as a choice rather than a necessity.

Musk stated that “currency becomes irrelevant.” He acknowledged that there will still be limitations, such as energy and physical resources, but money itself will become insignificant.

Inspiration from Science Fiction

Musk cited the Culture series by science fiction writer Iain M. Banks, which illustrates a society that thrives on abundance, thanks to AI, where human labour is optional. He believes this paints a picture of a likely positive outcome of advanced AI.

The Nature of Work in the Future

Musk described future work being similar to gardening—undertaken for enjoyment rather than necessity. He noted that while growing vegetables in one’s garden may be challenging, some individuals will still find joy in it. “That will be what work is like: optional,” he remarked.

The Role of Tesla’s Humanoid Robot

Musk has increasingly linked this vision to Tesla’s humanoid robot, Optimus, which he believes could completely replace the need for human labour. He highlighted at a recent investor gathering that discussions around alleviating poverty and providing excellent healthcare are dependent on the capabilities of the Optimus robot.

A Call for Economic Change

Musk is convinced that this major transformation will necessitate governments to implement universal high income alongside basic income. On a recent episode of The Joe Rogan Experience, Musk noted that anyone should be able to access any product or service they desire, although there will be significant trauma and disruptions during this transition.

Yet, Musk holds the belief that, if effectively managed, AI could lead to a post-scarcity scenario where abundance replaces the economies driven by survival.