Elon Musk, CEO of Tesla, shared a vision at the U.S.-Saudi Investment Forum in Washington, DC, where he forecasted that work could become optional within 10 to 20 years due to advances in AI and robotics. He suggested that money would lose relevance in a post-scarcity world enabled by humanoid robots like Tesla's Optimus. This prediction draws from science fiction and highlights potential economic transformations, though it raises concerns about job displacement.
Speaking at the U.S.-Saudi Investment Forum in Washington, DC this week, Elon Musk outlined his bold prediction for the future of labor and economy. The Tesla CEO, worth approximately $470 billion, envisions a world where AI-powered robots take over every aspect of production, making work largely optional within the next 10 to 20 years. He compared choosing to work to growing vegetables in one's backyard, a hobby rather than a necessity.
“My prediction is that work will be optional. It’ll be like playing sports or a video game or something like that. If you want to work, [it’s] the same way you can go to the store and just buy some vegetables, or you can grow vegetables in your backyard. It’s much harder to grow vegetables in your backyard, and some people still do it because they like growing vegetables,” Musk explained.
Musk attributes this shift to millions of robots enhancing productivity, with Tesla aiming for 80 percent of its value from Optimus humanoid robots, despite ongoing production delays and executive departures. He believes poverty could be eradicated and money rendered insignificant, inspired by Iain M. Banks’ Culture series, which depicts a post-scarcity society without traditional jobs or currency.
“In those books, money doesn’t exist. It’s kind of interesting. And my guess is, if you go out long enough — assuming there’s a continued improvement in AI and robotics, which seems likely — money will stop being relevant,” Musk remarked.
Earlier at Viva Technology 2024, Musk proposed “universal high income” to support a job-optional world, aligning with OpenAI CEO Sam Altman's advocacy for universal basic income. While Musk views this as a tech utopia, critics worry about AI displacing entry-level jobs, contributing to Gen Z's job market challenges and stagnant income growth. Realizing this vision demands significant social and technical advancements.