Elon Musk says AI will add US$30 trillion to global economy, but power crunch looms by 2027

Artificial intelligence is projected to significantly boost global economic output, with Elon Musk estimating a US$30 trillion increase. This optimistic forecast highlights the transformative potential of AI across various industries, from automation and productivity gains to scientific discovery and personalized services. Such advancements could redefine economic growth patterns and create new markets.

However, this surge in AI development and deployment is expected to place immense strain on electricity grids. Musk specifically points to a looming power crunch by 2027, underscoring the substantial energy demands of data centers and AI hardware. Addressing this energy deficit will be critical to sustaining the projected economic benefits and ensuring the continued innovation and widespread adoption of AI technologies.