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Money is everything in today’s world, but can you imagine that in the future money becomes completely useless? Tesla and SpaceX boss Elon Musk recently said this shocking thing in a podcast.
New Delhi. Can the notes and cards in your pocket become worthless one day? It sounds strange, but the world’s richest man Elon Musk has made a similar shocking claim. Musk says that in the future, AI and robotics will start fulfilling human needs so fast that money may lose its importance as a currency, that is, in the future, a world is possible where money will remain just a formality.
Recently, Elon Musk appeared on Zerodha co-founder Nikhil Kamat’s podcast People by WTF. In the 2-hour podcast, Musk has given a very interesting answer to a question. In response to the question of how money will be in the future, Musk believes that in the future, Artificial Intelligence (AI) and robotics will progress so fast that only machines will fulfill the needs of humans. When things start being produced in abundance and cheaply, then the traditional concept of money may change.
Importance of money will reduce in future
According to Musk, today money is a way of keeping accounts. Who is doing how much work and who is using how many things. But if neither human force nor resources are required for production, then the role of money will reduce.
Energy could be the real currency of the future
They say that the real currency of the future can be energy, because energy is the root of every production. In this context, he mentions Bitcoin, which he considers an energy-based model, because its mining requires actual electricity.
Economy will move towards post-scarcity economy
Musk gives the example of Scottish author Iain Banks’ ‘Culture’ series, in which society develops so much that money disappears and everything is available for free in abundance. According to him, if solar-powered AI, space energy harvesting technology and unlimited energy systems are created in the future, then it is possible that the world will move towards a post-scarcity economy.
Will you not have to work in future?
At the same time, in the podcast, Musk claimed that in the coming 10 to 20 years, getting a job or working will become completely optional. Musk said, “My prediction is that work will be optional in the future. People may revisit this in 20 years and say it was wrong, but I think it will be right. In less than 20 years… maybe even 10 or 15 years, advances in AI and robotics will bring us to a point where working will become optional.”
