Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), has predicted that the company’s humanoid robot Optimus could revolutionize the global economy even if it significantly reduces the need for human labor.
Despite the technical challenges surrounding the robot’s production, Musk’s ambitious vision for Optimus continues to unfold. Although not yet ready for mass production, Tesla has demonstrated its capabilities at events, including handing out candy on Halloween and performing Kung Fu with actor Jared Leto.
During a recent Tesla shareholder meeting, Musk expressed confidence in the robot’s potential to eradicate poverty, stating, “Optimus will actually eliminate poverty.”
He went on to suggest that the robot could also transform the criminal justice system, explaining how Optimus could monitor and prevent crime rather than relying on physical incarceration.
The Business Insider reports that Musk sees Optimus as a tool that could drastically increase the global economy by a factor of 10 or even 100.
Despite the hurdles that Tesla faces in building the humanoid robot, including difficulties with its hands, Musk maintains that Optimus will achieve unparalleled productivity.
He predicts that the robot will outperform humans by five times annually and be operational 24/7. Musk’s “sustainable abundance” vision, supported by robotics and AI, aims to reshape the economy.
Musk has even suggested that this shift could lead to universal high income, where working becomes optional.
The billionaire entrepreneur also touched on a potential future where AI and robots like Optimus would enable a capitalist-driven “communist utopia,” offering an ironic twist on the tech-driven future. While Musk’s predictions are ambitious, he remains optimistic that technology, including AI and robotics, will be the solution to global economic crises.
However, he also cautioned that such transformative change will come with significant disruption.
Though still in the design phase, with mass production of Optimus expected to launch soon, Musk has set an ambitious price target for the robots, ranging between $20,000 and $30,000 once production reaches scale.
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