Speaking at the G20 Summit on Tuesday, Musk said AI could increase the global economy by 20% to 30%.
- Musk predicted AI could become capable of handling virtually any digital task that does not require the ‘reshaping of atoms’ by the end of next year.
- He said that AI could get to a stage by next year which would make it impossible for humans to compete in software writing.
- Musk expects AI to become ‘extremely good’ at all forms of engineering and digital work within 12 to 18 months.
Elon Musk expects artificial intelligence to reshape the global economy on a massive scale, predicting it could eventually add as much as $30 trillion in annual economic output.
Musk estimated that AI could increase the global economy by 20% to 30%.
“I think, just to give you some sense of scale here, AI will probably increase the global economy by 20 to 30%. That is my rough estimate. Meaning, on the order of $20 to $30 trillion per year,” Musk said at the G20 Summit.
Musk Sees ‘Stockfish-Level’ AI By 2027 End
Musk predicted AI could become capable of handling virtually any digital task that does not require the “reshaping of atoms” by the end of next year. He said AI could become “Stockfish-level good,” which would make it impossible for humans to compete in writing software.
Stockfish is a powerful open-source chess engine that can reportedly calculate millions of positions per second.
“AI software will be so good that it will be stockfish-level good, meaning that it will be impossible for a human to compete in writing software with AI,” Musk added.
He expects AI to become extremely good at all forms of engineering and digital work within 12 to 18 months.
SPCX’s Massive AI Bet
The comments come as Musk’s SpaceX makes increasingly large bets on AI. SpaceX’s AI business generated $2.6 billion in revenue for the second quarter, up 247% year-over-year.
The company spent $15.8 billion on AI infrastructure during the quarter, largely tied to its Colossus II data center expansion. That accounted for around 86% of the total capital expenditures.
SpaceX also recently acquired AI coding platform Cursor for $60 billion and launched Grok 4.6, its latest AI model.
TSLA and SPCX stocks were trading lower at the time of writing. Meanwhile, retail sentiment for SPCX remained ‘bearish’ over the past 24 hours, while sentiment for TSLA trended in the ‘Neutral’ territory.
Also read: Peter Schiff Believes Even A 25 Bps Rate Hike Won’t Be Enough To Curb Inflation
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