Elon Musk predicts AI could boost global economy by 20%-30%

During a speech at the G20 meeting on September 1, Elon Musk stated that artificial intelligence could increase the global economy by 20%-30%, equivalent to an annual addition of $20 trillion to $30 trillion. He also noted that, by the end of 2027, AI could perform all digital tasks without human intervention. Musk predicted that AI programming capabilities could reach 'Stockfish-level' by next year, making human competition in software development unlikely. Within 12 to 18 months, AI is expected to demonstrate exceptional performance across various engineering and digital fields. Regarding humanoid robots, Musk forecasted that global production could surpass 1 billion units within a decade, with each robot delivering at least five times the productivity of a human. This could expand the global economy by more than 10 times. Musk also warned of an impending power shortage in the AI industry, estimating a potential 15 gigawatt shortfall by 2027 due to rapid AI chip production outpacing global electricity growth.