2nd September 2026 – (Chapel Hill) Speaking virtually from Chapel Hill, North Carolina on 1st September, Elon Musk projected that artificial intelligence and advanced robotics could transform the world economy with an annual boost valued between twenty trillion and thirty trillion dollars. Musk estimated that within the next decade, more than one billion humanoid robots could be in operation, each potentially five times more productive than a human, ushering in a new era of self-replicating manufacturing.
Musk, who joined prominent industry figures such as Sam Altman and Jensen Huang, told participants at the G20 Summit that artificial intelligence could increase the global economy by as much as thirty per cent, forecasting sweeping changes in the labour market and production landscapes. He suggested that AI would become “exceptionally proficient” at all manner of engineering and digital work within the next twelve to eighteen months, reaching a level of expertise on par with Stockfish, the open-source chess engine widely noted for its immense position-calculating power. At this anticipated stage, Musk argued, human software engineers would find it impossible to compete with AI systems in writing code.
Musk also sounded a note of caution regarding possible energy shortages brought about by rapidly accelerating AI innovation, predicting that power supply could present a major challenge by 2027. He advocated for light regulatory oversight to encourage further development, while recognising the need for readiness as AI systems continue to advance at a fast pace and acknowledging previous adjustments to his timelines in response to industry progress.
SpaceX, Musk’s private aerospace and AI company, has recently made significant investments in artificial intelligence infrastructure, recording 2.6 billion dollars in revenue from its AI business in the second quarter alone—a 247 per cent increase compared with the previous year. The company’s capital spending on AI infrastructure reached 15.8 billion dollars during the same period, accounting for the majority of overall capital expenditure as SpaceX expands its Colossus II data centre. Recent acquisitions include the AI coding platform Cursor for sixty billion dollars, as well as the launch of the latest Grok 4.6 AI model.