Yes, it’s possible in theory—but it’s much less certain than it may sound in an interview.
Elon Musk has said several times that if AI and robotics become advanced enough, they could produce almost all goods and services at extremely low cost. In that scenario:
- Robots build houses.
- AI performs most office work.
- Autonomous machines grow food and manufacture products.
- Energy becomes abundant and cheap.
If production becomes nearly free, then many things we currently pay for could become extremely inexpensive or even free. That’s the idea behind his statement.
However, there are major challenges.
- Scarcity will still exist. Even if AI can produce a lot, there are things that remain limited:
- Land in desirable locations
- Natural resources
- Unique works of art
- Live entertainment and personal services
- Some medical treatments
- Ownership still matters. Someone has to own and maintain the AI systems, robots, factories, and energy infrastructure. Unless ownership is shared broadly, wealth could become even more concentrated.
- Governments would need new economic systems. Many people, including Musk, have suggested ideas like a universal basic income (UBI), where everyone receives money because AI does most of the work. But even UBI still uses money.
Could money disappear completely?
It’s possible, but probably not anytime soon.
A future without money would require:
- AI and robots producing virtually everything people need.
- Extremely abundant energy.
- Resources that are effectively unlimited or easily recycled.
- A society that agrees on a new way to distribute goods and services.
Most economists think this is a very distant possibility, if it ever happens.
A more realistic future
A more likely outcome over the next few decades is:
- AI replaces many jobs.
- New types of jobs are created.
- Governments introduce new social support programs.
- Many goods become much cheaper because AI increases productivity.
- Money still exists, but people may need it for fewer things than they do today.
So, Musk’s vision isn’t impossible—it’s a prediction about a future where AI creates so much abundance that traditional economics changes dramatically. Whether humanity reaches that point depends not just on technology, but also on politics, laws, ownership, and how societies choose to distribute the benefits of AI.