Elon Musk: “AI has not yet made enough of an impact on productivity to…”

“If deflation is inevitable because of AI, why do we. Most likely the case. Yeah, right. Why do we have inflation again? All over in society today, Has AI not led to increased productivity yet? AI has not yet made enough of an impact on productivity to increase the goods and services faster than the increase in the money supply. So the US is increasing money supply quite substantially with deficits that are on the order of $2 trillion. So you have to have, you know, goods and services output increase more than that in order to not have inflation.” (50:04–50:12)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.