Treasury Secretary parrots Elon Musk’s claim that Americans won’t need to save for retirement because of AI’s abundance

Treasury Secretary Scott Bessent echoed Elon Musk's claim that Americans will not need to save for retirement because of an abundance of artificial intelligence, telling Fox News on Monday that Musk is "ahead of the curve" on the timeline. Musk had previously stated in a January podcast that saving for retirement would become irrelevant within 10 to 20 years as AI surpasses human intelligence and cash becomes meaningless.

Independent TV /tv Showing now | News 01:09 Treasury Secretary parrots Elon Musk’s claim that Americans won’t need to save for retirement because of AI’s abundance Scott Bessent /topic/scott-bessent echoed Elon Musk /topic/elon-musk ’s claims that Americans won’t need to save for retirement thanks to the “abundance of AI /topic/ai ”. In a recent interview with The Economist, the SpaceX CEO said that he believes that in a few years, artificial intelligence will exceed human intelligence and cash will soon become meaningless. He had previously said that saving will soon become irrelevant. “Don’t worry about squirrelling money away for retirement in like 10 or 20 years - it won’t matter,” he claimed in a January appearance on the Moonshots with Peter Diamandis podcast. Speaking to Fox News on Monday 27 July , the Treasury Secretary agreed with Mr Musk, though said he believed Mr Musk is “ahead of the curve” in regard to the timeline.