Elon Musk predicted that money will become largely irrelevant within the next decade, a statement that drew significant attention given its timing: the world's richest man made the comment just weeks after his paper fortune shrank by nearly $700 billion amid a steep decline in Tesla and SpaceX stock prices.

A bold prediction about an AI-driven future

Speaking with The Economist's editor-in-chief, Zanny Minton Beddoes, in a wide-ranging interview, Musk argued that rapid advances in artificial intelligence and robotics could fundamentally reshape how the global economy functions. "Money won't matter in 2036," Musk said, predicting the world would transition into what he described as an era of "incredible abundance," in which robots and AI systems produce more goods and services than people could ever consume.

Musk framed his reasoning around the basic purpose money serves. "You want money for goods and services, right? You want money for obviously food, housing," he said, arguing that once AI and automated production make those goods and services essentially limitless, the underlying need for currency would diminish substantially.

Beddoes pushed back on the prediction during the interview, pointing out the apparent tension between Musk's forecast and the market value of his own companies. "I'm not sure that the people who bought your shares think that money won't matter," she said, challenging Musk to explain how Tesla and SpaceX would continue generating revenue in a future where money supposedly carries little........

© International Business Times