How Mark Zuckerberg and Elon Musk made the case for AI at the G20 meeting

Yahoo Finance Fed Correspondent Jennifer Schonberger joins Market Domination host Josh Lipton to report on Meta (META) CEO Mark Zuckerberg and SpaceX (SPCF) CEO Elon Musk speaking on the projected benefits of AI, including job growth and boosting the global economy by 20 to 30%, at the G20 Innovation Ministerial in Chapel Hill, N.C. Video Transcript 00:00 Josh We saw Elon Musk speaking to the G20 today on the influence of AI on the economy. What what did he have to say? 00:07 Jen That's right. This year the G20 bringing together executives in addition to finance ministers around the globe, and Elon Musk said that he believes that the full adoption of AI could lead to 20 to 30 trillion dollars in extra growth per year globally. Take a listen. 00:27 Elon Musk I think AI will probably increase the global economy by 20 to 30%. That's my rough rough estimate. Um meaning on the order of 20 to 30 trillion dollars per year. Um and and AI will be able to do anything digital, anything that does not require shaping of atoms by hand. Um, probably by the end of next year. 01:00 Jen Musk also said that at some point next year, he thinks that AI software will be so good that it will be impossible for a human to compete in writing software with AI. He also warned of a massive energy shortfall saying that we really need to get power generation up in this country and around the world to meet demand for AI data centers. We also heard from Meta's Facebook, uh Meta's Mark Zuckerberg, who also addressed the G20 on AI, saying that he thinks we're pretty early in this process, that AI is innovation, not automation. He wants to employ tools that can perform tasks for businesses and personal uses 24/7. He thinks that the cost of starting a business will drop and that will lead to more businesses being created, which will boost economic growth. He also thinks that AI is going to lead to many more jobs being created. And for that, he pointed to the amount of different skill sets and people that meta is specifically looking to to build their data centers. Josh. 02:10 Josh All right, great stuff as always. Thank you, Jen. View Comments