Musk warns of the end of money by 2036, Artificial Intelligence and robots will reshape everything

According to Elon Musk, within ten years money could become redundant, as automation and artificial intelligence are expected to flood the market with products and services that exceed human capacity to absorb them.

During a conversation with The Economist magazine, the American businessman argued that technological advances are increasingly rendering the current economic architecture obsolete.

“The value of money will disappear on the horizon of 2036,” Musk asserted, adding that an abundance provided by robots and artificial intelligence would make currency irrelevant.

He added that the rapid advancement of technology will also rewrite the logic of employment. Responding to fears about the disappearance of jobs, Musk predicted a shift towards a “universal high income” system, which would provide people with a high quality of life despite the lack of a traditional job.

Regarding the international race for supremacy in artificial intelligence, Musk assessed that China has extraordinary potential to lead this field, once it expands its computing resources.

He emphasized that Chinese firms have already achieved impressive results, even though they have worked with fewer resources than Western competitors.

Asked also about his role on the political scene of the United States, the head of Tesla and SpaceX admitted that he had been “a little more involved than necessary” in the 2024 presidential campaign and that he had been “carried away” by the momentum of the political debate.