Billionaire Elon Musk says artificial intelligence and robotics could eliminate the need for humans to work within the next two decades. He also suggested that traditional money may lose its importance in a future dominated by advanced AI and humanoid robots. Musk shared these predictions during a panel at the US–Saudi Investment Forum, according to Fox Business.
Musk said he was unsure how long “the long term” means, but estimated it could be 10 to 20 years. He predicted that work would become optional, similar to playing a video game or pursuing a hobby. He compared it to growing vegetables in your backyard: challenging but enjoyable for those who like it.
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He added that reaching such a future would require “a lot of work” first. Musk also said money could become irrelevant if AI and robotics continue improving. He noted that many books imagining a positive AI future rarely include the concept of money.
Musk explained that some limits would still exist, such as energy, power, and physical resources. These fundamental constraints would remain, even if currency no longer mattered. However, he believes a world dominated by AI and robotics could still eliminate poverty.
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He highlighted that humanoid robots could become the “biggest industry” in the world, even larger than smartphones. Tesla is developing its Optimus humanoid robot, but Musk expects many companies to enter the field. He said AI and robotics are the only true path to making everyone wealthy.