Elon Musk, one of the world’s most influential technology entrepreneurs, has predicted that money could become largely irrelevant by 2036 as artificial intelligence and robotics dramatically increase the production of goods and services, a vision that could fundamentally alter how the global economy functions.
Speaking in an interview with The Economist, the Tesla, SpaceX and xAI chief argued that advances in AI could create an economy of abundance, where the traditional role of money diminishes because machines are capable of producing more than humanity needs.
“Money won’t matter in 2036,” Musk said.
Explaining his reasoning, Musk noted that money exists primarily as a means of exchanging goods and services, but questioned whether it would remain necessary if AI eliminated scarcity.
“You want money for goods and services… If robots and AI are providing more goods and services than any human could possibly consume, what do you need money for?” he said.
The remarks add to growing debate among economists, policymakers and technology leaders over how artificial intelligence could reshape labour markets, productivity, inflation and public finances in the coming decade.
Musk suggested that governments could respond differently in an economy driven by abundant AI-powered production.
“I think the Treasury should just simply issue people checks,” he said.
He also argued that inflation would become less of a constraint if technological advances significantly expanded the supply of goods and services.
“Inflation is simply the ratio of money to goods and services. If the output of goods and services increases dramatically… You can create money in the database. I’ll make a prediction, which is that deflation will be the issue, not inflation.” Musk said.
His comments come as artificial intelligence continues to move rapidly from research laboratories into mainstream business operations, with companies deploying AI to automate software development, customer service, manufacturing, logistics, healthcare and financial services.
While economists remain divided over the extent and pace of AI’s long-term impact, Musk’s views are likely to attract attention because of his central role in developing technologies that are already transforming industries. Through Tesla, SpaceX, Starlink and xAI, Musk has consistently pushed innovations that have reshaped transportation, aerospace, communications and artificial intelligence.
The comments also highlight the need for governments to prepare for structural changes that could emerge as AI adoption accelerates globally. Countries are investing in AI infrastructure, digital skills, semiconductor capacity and research to position themselves for a technology-driven economy.
Ghana’s drive towards digital transformation through mobile money, fintech innovation and expanding digital public services has strengthened the foundations of its digital economy. However, experts argue that future competitiveness will depend on deeper investments in artificial intelligence, digital infrastructure, computing capacity, research and workforce development.
As AI adoption gathers pace worldwide, policymakers and businesses alike may need to reconsider long-standing assumptions about employment, productivity and economic growth.
Musk’s prediction that “money won’t matter in 2036” highlights a broader debate about how advances in artificial intelligence could reshape the foundations of the global economy. His comments reflect growing expectations among technology leaders that AI-driven productivity, automation and abundance could significantly alter economic systems, making it important for countries such as Ghana to monitor these developments and position themselves for the structural changes ahead.
