Tesla Inc. CEO Elon Musk has shared that the automaker will expand its human workforce as artificial intelligence and robotics advancements boost productivity.<\/p>\n
On Thursday, Business Insider cited Musk\u2019s comments at the Abundance Summit, where the billionaire shared that Tesla wasn’t planning any layoffs, instead focusing on expanding its workforce because the “output per human at Tesla\u201d was going to \u201cget nutty high,” he said.<\/p>\n
Musk also said that the company would “basically just issue money to people” and predicted that the economy would experience “deflation” because “the output of goods and services will so far exceed the money supply.”<\/p>\n
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The news comes as the Tesla CEO has, on several occasions, predicted that his products, namely the Optimus Humanoid Robot<\/a>, would render money useless and enable a universal high income.<\/p>\n However, Musk’s claims have been questioned by critics like Sen. Bernie Sanders (I-VT), who asked Musk about how this “utopia” with Universal High Income would come about amid an absence of \u201centry-level jobs\u201d available in the market due to the advent of AI.<\/p>\n The tech industry, meanwhile, has reported multiple layoffs as companies begin incorporating AI into their organizations. Recently, Jack Dorsey-led Block Inc. announced that it would cut nearly half its workforce, eliminating over 4,000 roles from the company.<\/p>\n Atlassian Corp, too, cut nearly 10% of its global workforce amid an AI push, letting over 1,600 employees go, with over 30% of the layoffs taking place in Australia.<\/p>\n