Elon Musk Says AI, Robots Could Make Traditional Money Unnecessary
JH Kim
Summary
- Elon Musk said advances in AI and robot technology could make traditional money unnecessary.
- He said the role of existing money could disappear if AI and robots create an environment where they can supply virtually all goods and services.
- He described it as a long-term view in which the basis of economic value could shift from traditional money to physical resources such as energy, electricity, and mass.
Forecast Trend Report by Period
Elon Musk, chief executive officer of Tesla, said advances in artificial intelligence and robotics could eventually make traditional money unnecessary.
Cointelegraph reported on October 22 that Musk believes the role of conventional currency could disappear if AI and robots become capable of supplying virtually all goods and services.
He said that as AI- and robot-driven production expands, the basis of economic value could shift from traditional money to physical resources such as energy, electricity and mass.
Musk presented the idea as a long-term outlook premised on broad advances in AI and robotics.
JH Kim
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