Reported by: Oahimire Omone Precious | Edited by: Bornet .k
The world’s richest man, Elon Musk, has predicted that traditional money could become far less significant within the next decade as advances in artificial intelligence (AI) and robotics reshape the global economy and transform the way people work.
Musk made the prediction during an interview with The Economist, where he argued that the rapid development of intelligent machines could eventually reduce the importance of money as automation takes over a growing share of human labour.
“Money won’t matter in 2036,” Musk reportedly said, explaining that artificial intelligence systems and advanced robots are increasingly capable of performing tasks that have historically required human workers.
The billionaire entrepreneur, who leads companies including Tesla, SpaceX, and xAI, has repeatedly warned that AI development could bring major changes to society, including shifts in employment, productivity and economic structures.
According to Musk, a future where machines can produce goods and provide services at an unprecedented scale could challenge the current economic system, which is largely based on employment, wages and the exchange of money for labour.
He suggested that if AI and robotics continue improving at their current pace, human productivity could increase dramatically, creating a situation where many goods and services become more widely available and less dependent on traditional forms of payment.
The prediction reflects Musk’s long-standing belief that artificial intelligence will become one of the most powerful forces shaping the future of humanity. He has previously argued that AI could eventually surpass human capabilities in many areas, while also warning that governments and industries must prepare for its impact.
Musk’s comments come amid rapid global investment in artificial intelligence technologies, with major technology companies developing advanced AI systems capable of performing tasks ranging from writing and research to programming, manufacturing and decision-making.
Robotics has also advanced significantly, with companies developing humanoid robots designed to work in factories, warehouses and potentially homes. Tesla has been developing its Optimus humanoid robot, which Musk has described as a potential major contributor to future economic activity.
However, economists and technology experts remain divided over whether AI will make money irrelevant or instead create a new economic environment where wealth distribution, employment patterns and inequality become even greater challenges.
While automation has historically increased productivity and created new industries, previous technological revolutions have also displaced certain types of jobs, requiring workers and governments to adapt through education, training and policy reforms.
Some analysts argue that even in a highly automated economy, money may continue to play a role because societies will still need systems for allocating scarce resources, managing ownership and organising economic activity.
Musk’s prediction is therefore viewed by many as a vision of a possible future rather than a certainty, with the outcome depending on how governments, businesses and societies manage technological progress.
Beyond economic issues, Musk has also raised concerns about the need for responsible AI development. He has called for safeguards to ensure that advanced artificial intelligence benefits humanity and does not create uncontrolled risks.
The Tesla chief executive has previously predicted that AI could eventually provide a level of abundance where basic needs become easier to meet, allowing humans to focus less on traditional employment and more on creativity, innovation and personal development.
His latest remarks have renewed global debate about the future of work and whether technological progress will lead to greater prosperity or deepen existing social and economic divisions.
As artificial intelligence continues to evolve, governments around the world are now facing questions about regulation, employment protection and how societies should prepare for a future where machines may perform an increasing number of human tasks.
For Musk, the coming decade represents a turning point in human history, where the relationship between technology, labour and economic value could undergo one of the biggest transformations ever experienced.
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