Elon Musk stated that universal basic income (UBI) may be the most effective solution to address rising unemployment caused by artificial intelligence and automation.
According to Musk, rapid advancements in AI and robotics are expected to significantly increase the production of goods and services, potentially outpacing the growth in money supply. As a result, he argues that such a system may not necessarily lead to inflation, contrary to common concerns.
His comments highlight a growing debate among economists and policymakers about how to adapt economic systems to a future where automation could displace large segments of the workforce.