Elon Musk says AI will eradicate poverty; Paytm CEO Vijay Shekhar Sharma approves
Paytm CEO Vijay Shekhar Sharma seems to support Elon Musk’s recent support for artificial intelligence (AI); Here he was saying that AI will eliminate poverty.
He first made these comments at the US-Saudi Investment Forum in Washington, where US President Donald Trump hosted Saudi Crown Prince Mohammed bin Salman, the Associated Press reported.
He told the forum: “I see poverty as an engineering problem rather than an unsolvable social problem. With Grok and Optimus, we can solve the labor shortage, reduce costs to almost zero, and create a future where poverty is statistically insignificant.”
“It’s really easy to underestimate the magnitude of what’s going to happen in the next decade,” he said.
Quoting one of Elon Musk’s posts on X, Vijay Shekhar Sharma said: ‘AI for poverty eradication!’
His comments ignited an intense social media discussion.
“He says all corrupt minds should be replaced with AI. the world will be healed,” one person commented.
“AI will only increase the gap between poor and rich,” said another.
Elon Musk’s approach to artificial intelligence and poverty
Elon Musk, who also commented on an X post supporting him, reiterated that poverty will be eliminated.
“There are two types of poverty: absolute and relative. Elon is right that we can solve absolute poverty. In fact, it already exists to a large extent, especially in the developed world. Relative poverty is about envy. It is more of a spiritual problem than an economic one, and it will always be with us,” the post said.
“Poverty can and will be eliminated, but envy is eternal,” Musk said.
Speaking at the US-Saudi Investment Forum in Washington, Elon Musk said artificial intelligence could be used to eliminate poverty.
He said currency will become “junk” and jobs will become “optional” as artificial intelligence and humanoid robots become massively productive.
“Currency is becoming irrelevant. There will still be restrictions like electricity and mass, but money will no longer be relevant,” the xAI chief said.
Musk predicted that the transformation would be well underway within the next two decades.
“I don’t know what the long term is, maybe 10, 20 years or so. My prediction is that work will be optional,” he added.
Musk said that with robots doing most of the work, “jobs like growing your own food instead of buying it will become optional” and people will enter jobs based on passion, not out of need for money.
“It’ll be like playing sports or playing a video game. Likewise, if you want to work out, you can go to the store and buy some vegetables, or you can grow vegetables in your backyard. It’s a lot harder to grow vegetables in your backyard, but some people do it anyway because they love growing vegetables,” he said.
