Saving for retirement is pointless thanks to the impending “supersonic tsunami” of AI and robotics, which will bring about a world of zero scarcity, according to Elon Musk.
Part of Musk’s controversial take lies in his vision of a world transformed by rapidly improving AI, robotics, and energy technology.
By 2030, AI will surpass “the intelligence of all humans combined,” Musk predicted. He also claimed eventually there will be more humanoid robots than humans on Earth. Slowly, the traditional job will be replaced as well, with white collar positions first on the list.
“Anything short of shaping atoms, AI can do probably half or more of those jobs right now,” he said.
The advances could lead to such big productivity increases, he said, that they will surpass “what people possibly could think of as abundance.”
Rather than a universal income, everyone will enjoy a “universal ‘you can have whatever you want’ income” in the future, he claimed. In this world, the link between individual wages, savings, and living standards no longer makes sense.
Even without savings, AI will help people obtain better medical care than currently available within five years, as well as remove any limit on the availability of goods, services, or educational opportunities.
Musk is also not blind to the potential downsides of a society without the need to earn a living. A high universal income could come hand-in-hand with social unrest, as people may face a deeper crisis of meaning, he warned.
“If you actually get all the stuff you want, is that actually the future you want? Because it means that your job won’t matter,” Musk said.
