The key facts
- Musk suggested that with the development of AI and robotics, conventional money may become unnecessary
- Instead of current currency valuation rules, he named mass, power, and energy as benchmarks
- Earlier he stated that AI could surpass humanity in about five years and slip out of control in ten
Musk Suggested Abandoning Conventional Money
Entrepreneur Elon Musk stated that with the development of artificial intelligence and robotics, humanity may arrive at an economy in which conventional money will no longer be needed. He named space exploration as an additional factor, which, in his assessment, could increase the scale of the economy a millionfold.
Physical Quantities Will Become the Benchmark
In the podcast of American writer Walter Isaacson, Musk explained that currency may remain in the future, but it will no longer be evaluated under current rules. Instead, in his view, the benchmarks will be physical quantities — mass, power, and energy. Musk also expressed the opinion that in the future, artificial intelligence and robots will surpass humans in all types of activity.
Musk Previously Spoke About the Risks of Superintelligence
Earlier, Elon Musk stated that even he could be among the people whom superintelligence defeats through its ability to persuade. Superintelligence refers to artificial intelligence that surpasses humans in intellectual capabilities. The entrepreneur has repeatedly spoken about the rapid development of AI and the risks associated with it. He suggested that in about five years, artificial intelligence will surpass the combined intelligence of humanity, and in another ten years, people may lose control over it.
