The potential benefits also extend to the healthcare sector. Musk has suggested that surgical robots could soon outnumber human surgeons, potentially providing medical care superior to that currently enjoyed by even world leaders. If machines can handle everything from industrial production to complex surgery, the need for money as we know it could disappear, leading us to a world where goods and services are plentiful for all.
Can we afford a robotic workforce?
To foster a world where work is optional, Musk proposes the concept of a “high universal basic income.” This concept differs slightly from the “universal basic income” proposed by others, such as Sam Altman, CEO of OpenAI. According to Musk, thanks to the abundance and low cost of goods and services produced by robots, everyone could not only survive but also thrive without needing a traditional job.
However, financial experts temper this enthusiasm. The main obstacle lies in the considerable gap between computer programming and machine construction. Ioana Marinescu, a professor at the University of Pennsylvania, points out that while the operating costs of artificial intelligence software are decreasing, building physical robots remains stubbornly expensive.
Marinescu explains that we have been manufacturing machines since the Industrial Revolution. However, this long-standing practice makes it increasingly difficult to find new methods to reduce production costs. While software can be copied millions of times instantly and at virtually no cost, each robot must be built from scratch using expensive materials.
This creates a major obstacle. Even if computers are ready to perform the task, mass-producing robots could prove too expensive. If companies cannot afford to build millions of robots, the cost of goods will not decrease, and the dream of a life without work may remain out of reach for the average citizen.
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