Musk predicts the end of money importance: You won't be needing it in 2036.

According to Musk, rapid development of artificial intelligence and humanoid robots can radically change the way society and the economy function.

“What do you need money for? You need goods and services: food, shelter, transport and entertainment”, Musk said, arguing that if robots and artificial intelligence systems manage to produce more goods and services than humans can consume, then the need for money can be significantly reduced.

Musk has repeatedly declared that robots and Al will play a key role in the future. He believes autonomous machines and humanoid robots can perform much of the physical and industrial work, significantly increasing global production.

However, economic and technology experts have different views on the scenario. Many of them point out that even in a world with high automation, issues will remain like the distribution of wealth, ownership of technology and the way people will have access to resources.

Musk's statement has reopened debate on the long-term impact of artificial intelligence and whether technological progress can bring about an economy where the traditional role of money changes. /Telegraphy. com