AI technology and humanoid robots will significantly transform the global economic system, so the importance of money could diminish considerably by 2036, according to Elon Musk.
He made this prediction in an interview with The Economist, and he also expects that within the next 5 years, AI's intelligence will surpass the combined intelligence of all humanity.
If AI technology and humanoid robots can produce billions of goods and services, and people can easily obtain everything they need, then according to him, people won't need money as much as they do today.
Furthermore, Musk says that the rapid advancement of AI could lead to deflation—a decline in prices of goods and services—because AI acceleration will make production more efficient.
Despite these optimistic perspectives, Musk has warned that advanced AI systems carry significant risks.
Therefore, he has urged top AI companies to regularly hold security meetings to identify potential risks in advance, and to conduct mutual reviews and assessments of their advanced AI models before releasing them.
Ref: Technology Innovation
