Elon Musk: AI could boost global economic growth by 20%-30%, with humanoid robots reaching 1 billion units in the next decade

Elon Musk stated via video at the G20 Central Bank Governors and Finance Ministers Summit that AI will bring significant productivity improvements, and robotics will lead to exponential growth. He predicts that AI could increase the global economy by 20% to 30%, adding $20 trillion to $30 trillion annually. Musk called on regulators to encourage and embrace new technologies like AI, arguing that technology should be "default legal" rather than "default illegal". He is most optimistic about the robotics sector, forecasting that within ten years the number of humanoid robots worldwide will reach 1 billion, and expects AI will be able to complete all digital work by the end of next year.

Author, Source: Wall Street News

Elon Musk, CEO of Tesla and SpaceX, rarely shies away from making bold predictions about new technology. His comments at the G20 Central Bank Governors and Finance Ministers Summit held in Asheville, North Carolina were no exception.

Musk said via video link at the summit:

"In fact, we have already seen, and will continue to see, significant productivity boosts brought by artificial intelligence, while robotics will lead to exponential productivity growth."

Musk added:

"To give everyone an intuitive sense of the scale, I think AI could increase the size of the global economy by 20% to 30%. That's my rough estimate, which translates to an annual increase of about $20 trillion to $30 trillion."

Musk urged regulators to encourage and embrace AI and other new technologies, arguing that such technology should be "default legal" rather than "default illegal".

He is most optimistic about the robotics sector, predicting that in the next ten years, the global number of humanoid robots will reach 1 billion.

"By the end of next year, AI will be able to complete all digital work—meaning all tasks that do not require humans to physically shape objects."