Elon Musk Foresees Universal High Income Due to AI Job Displacement; His AI Firm xAI Secures $6 Billion
Summary:
Elon Musk has reiterated his concerns over AI, predicting a future where humans may seek purpose in giving meaning to AI. He anticipates job displacement due to AI necessitating a universal high income and humans may work as a choice, rather than a necessity. His AI company, "xAI," recently secured $6 billion in funding, raising its value to $18 billion. Despite trailing industry leaders, Musk expects xAI to catch up by 2024. His past AI predictions, particularly regarding Tesla's robotaxis, have not always been accurate.
Billionaire entrepreneur Elon Musk recently reiterated his belief that a universal high income will be necessary as jobs are increasingly displaced by AI technology. He suggested that humans may find purpose in providing meaning to AI in the future. Speaking at the VivaTech 2024 event in Paris, Musk commented that his greatest fear is AI, envisioning a future where machines surpass humans in capabilities and humans might find purpose in supporting these machines.
Questioning the meaning that life may hold if all tasks can be performed better by robots or computers, Musk said there might still be a role for humans in adding significance to AI. Musk, who has at least 10 children, also suggested that conventional employment might become a choice, rather than a necessity. He underlines his predictions that AI will eventually outperform humans in all areas.
In related developments, Musk’s AI-focused venture, succinctly named "xAI," has collected $6 billion in investment from prominent firms like Lightspeed Venture Partners, Andreessen Horowitz, Sequoia Capital, and Tribe Capital. The financing round has elevated the company's valuation to $18 billion. Cointelegraph has reported that although Musk acknowledges that xAI trails behind key players like OpenAI and Google's DeepMind currently, he expects the company to match their capabilities by the end of 2024.
Musk’s repeated forecast that AI will surpass human intelligence by 2025 seems to suggest his conviction that xAI could be one of the organizations leading the development of human-level AI. It needs to be noted, though, that some of Musk's past predictions around AI have not precisely materialized. For instance, his 2019 claim that Tesla would have a million fully automated robotaxis operating by 2020. Fast forward to present day, he now anticipates Tesla's first robotaxi release to be in August 2024. Commenting on broader AI advancements, Baidu's CEO predicts that Artificial general intelligence is likely more than a decade away.
Published At
5/24/2024 7:43:08 PM
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