""If any of the things that we've said are true, saving for retirement will be irrelevant," Musk stated, emphasizing the transformative potential of AI and technology in reshaping financial security."
"Diamandis explained that Musk's argument is based on the belief that technological advancements will generate so much wealth that the government can provide a universal high income to every American."
""The only thing I can imagine the government's going to do is write COVID-style checks to help stabilize people," Diamandis noted, highlighting the expected economic impact of AI on employment."
"Diamandis envisions a future where the government pays $3,000 a month in universal basic income, ensuring that every individual has access to necessary resources like food, water, and healthcare."
Elon Musk predicts that advancements in AI will lead to a future where saving for retirement becomes unnecessary. He believes that technological progress will create immense wealth, allowing the government to provide a universal high income to all citizens. Peter Diamandis supports this view, stating that AI will likely cause unemployment, necessitating government-issued checks similar to those during the COVID pandemic. He envisions a scenario where the government pays $3,000 monthly in universal basic income to ensure everyone has access to essential resources.
Read at www.businessinsider.com
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