Could AI create $500 trillion global economy? Elon Musk, Jensen Huang think so

Nvidia CEO Jensen Huang in a recent interview has explained how artificial intelligence can create an economic boom worth trillions.

According to Huang, with unprecedented automation driven by AI tools, humans can outsource mundane routine tasks, boost productivity and help them to focus more on meaningful work.

“Our job is not to wrangle a spreadsheet. Our job is not to type on the keyboard. Our job is generally more meaningful than that. I am completely confident that AI will drive more productivity, revenue growth, and therefore more hiring,” Huang explained.

Talking about the world’s GDP, Huang said that a general belief has prevailed related to the global economy being capped at $100 trillion. But AI is going to change this belief driven by the GDP boom.

“What is likely to happen is that AI will supercharge $100 trillion dollars to 200 trillion dollars, maybe $300 and $500 trillions as there is no fundamental limit to GDP size,” Hunag added.

Nvidia’s CEO claims were also backed by tech billionaire Elon Musk, who endorsed this idea by stating “True” on his official X account.

At Forbes' Innovator 250 Celebration on May 19, Musk also predicted that digital intelligence will surpass all human brainpower by 2031, with at least 100 million to a billion humanoid robots arriving in 5 years.

The CEO of SpaceX said it is expected that the economy could double within 5 to 7 years because AI and robotics may increase output dramatically. And the future outlook is going to be very different based on the pace of change.