Elon Musk believes that in the future, artificial intelligence (AI) and robots will be able to do most of the work of humans. This frees people from the compulsion to work for their livelihood. Musk has named this future vision Universal High Income. However, with this change, may come challenges such as loss of jobs, growing economic inequality and redistribution of wealth.

Recently, at the All-In Summit, Musk shared his thoughts on the future of artificial intelligence (AI) and robotics. He said that in the future, AI and robots will be able to do almost every type of work like humans. Because of this, for humans, working can become a choice rather than a necessity.

There will be an option to work

According to Musk, AI and Tesla’s humanoid robot Optimus will be able to perform multiple tasks simultaneously. This may include physically demanding work as well as office work. AI may also play a growing role in data processing and other technical tasks.

Musk believes that when machines start making goods and providing services on a larger scale, it will become easier to meet people’s needs. He called this possible system Universal High Income. This means that where many goods and services are available with the help of technology, it becomes easier for people to live a good life.

Will everyone get better features?

Universal Basic Income (UBI) is commonly discussed. This means that people should get a certain amount of financial assistance to meet their basic needs. But Musk’s imagination goes beyond this. According to him, increased use of AI and automation can increase the availability of goods and services. This is likely to reduce costs in sectors such as manufacturing, transport, agriculture and health services. If this happens, it may be easier for more people to get better facilities. However, it will also depend on how the benefits of new technologies reach different sections of society. Merely increasing production does not ensure that everyone will benefit equally.

The risk of job loss may also increase

AI and robots are likely to make work easier, but there is another side to this change. If machines begin to do the work of humans, many existing jobs may become redundant. This can create financial problems for those whose family expenses are covered by their salary or wages. The bigger question is who will get the revenue if machines do most of the work? Will it only benefit the owners of robots and AI or will it reach the general public?

Musk also acknowledged that this period of change will not be easy. He describes it as a journey full of ups and downs and difficulties. Therefore, this notion regarding AI may open up new possibilities in the future, but it will also require finding answers to questions related to employment, income and economic security.