Although many people are worried about how the impending AI job apocalypse will affect them, Elon Musk has a very optimistic vision of how AI will change the labour market.

As the UK's first-ever AI Safety Summit came to an end on Thursday, Musk told UK Prime Minister Rishi Sunak that technological advancements will simply create a future "where no job is needed." Naturally, jobs can still be held "for personal satisfaction," but AI "will be able to do everything," according to Musk.

And just how will humans be able to support themselves in this new world driven by AI?

"You'll have a universal high income," Musk said to Sunak, without going into detail about how it was different from universal basic income, which is one of Silicon Valley's ideal remedies for income disparity.

"You'll rarely ask for anything," he said, outlining a "future of abundance" where there would be no scarcity of goods and services. As a result, AI will function as somewhat of an economic equalizer, he said, especially because it'll be accessible to everyone. At the same time, he suggested that there might be "somewhat of the magic genie problem," so people will need to be careful about exactly what they "wish for," he said. Musk has been outspoken about the need to regulate AI and was among the list of tech execs and AI researchers who signed an open letter calling for a pause on AI development.

In his conversation with Sunak, he suggested several ways to place humanoid robots in a safe mode, from an "off switch" to a phrase.

Nonetheless, he concluded that AI is probably going to be 80% beneficial and 20% harmful, at least by the conclusion of the talk on Thursday.