Elon Musk Predicts AI and Robots Will Expand Global Economy

During appearances at the Future Investment Initiative in Saudi Arabia and the G20 Innovation Ministerial in North Carolina, Elon Musk predicted that artificial intelligence and humanoid robots will fundamentally expand the global economy. He estimated that humanoid robots could create a $250 trillion market by 2040, with 10 billion units priced between $20,000 and $25,000 each.

Musk projected that over a billion robots will exist within a decade, asserting that each will produce at least five times the output of a human. He further estimated that AI could increase annual global production output by 20% to 30%, adding $20 trillion to $30 trillion to the economy by managing digital tasks as early as next year. While he believes AI may surpass combined human intelligence by the end of the decade, he warned that energy deficits could compromise data centers by 2027.

Musk urged governments to prioritize startups and establish new technology as the lawful default, criticizing the regulatory approach of the European Union. Other industry leaders echoed the transformative nature of these technologies; Amazon CEO Andy Jassy described generative AI as a once-in-a-lifetime technology, and Bill Gates called it the biggest technological advance of his lifetime.