Elon Musk’s bold forecast

Elon Musk’s bold forecast

Elon Musk

Elon Musk, the CEO of Tesla Inc. TSLA, and U.K. Prime Minister Rishi Sunak on Thursday discussed at length the risk posed by artificial intelligence, the role of governments, and the future of jobs, among other things.

What Happened: During the 40-minute conversation, Musk expressed his belief in AI’s disruptive nature, stating that AI would eventually make all jobs obsolete.

The tech billionaire said, “I think we are seeing the most disruptive force in history here, where we have, for the first time, something smarter than the smartest human.”

Musk acknowledged the challenge of pinpointing the exact moment when AI might achieve this but said it’s inevitable. “There will come a point where no job is needed,” he declared, adding that while people might choose to work for personal satisfaction, AI would have the capacity to perform all tasks.

Sunak shared his perspective on AI and jobs, noting that AI has already been creating employment opportunities and enhancing human capabilities. He cited companies where AI was used as a co-pilot, supporting and augmenting human efforts rather than replacing them entirely.

Later, in response to how people should perceive this transformative technology, Musk said, “It’s both good and bad.”

He predicted a future where AI could fulfill virtually any request and highlighted its potential for education and the equitable distribution of resources. “It’ll be the best tutor you could have, the most patient tutor.”

He also envisioned a world where there would be an abundance of goods and services, a “universal high income” rather than a universal basic income.

The conversation occurred after Sunak closed the AI Safety Summit, an initiative by the U.K. government to deliberate on the advancement and potential threats of AI.

Renowned tech companies and nations came together to sign a voluntary agreement that would allow governments to test their latest AI models for societal and national security risks.

Why It Matters: The rise of AI technologies has sparked concerns about job security across various sectors.

Previously, it was reported AI could potentially affect nearly one billion knowledge workers worldwide and eliminate 14 million jobs. However, sectors involving skilled trades, intensive manual labor, and roles that blend physical, knowledge, and social work are less likely to be significantly impacted.

AI’s advancement has already started replacing human workers in certain areas. AI has increasingly been used to increase output and efficiency. For example, in marketing, AI is leveraged for idea creation and audience targeting.

Despite the looming threat of job disruption, Musk ended his talk positively, suggesting that AI could become “great friends” to their users and serve as a “force for good.”

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