Elon Musk has suggested that saving for retirement could become irrelevant within the next decade, as advanced technologies, particularly artificial intelligence, promise to generate such vast abundance that financial reserves may no longer be necessary. However, Dario Amodei, CEO of Anthropic—the AI company behind the Claude chatbot—warned that achieving such a future will be far from easy. In a recent essay, Amodei acknowledged AI’s potential to dramatically improve quality of life for all. Yet he cautioned that the path to that future will involve a difficult and disruptive transition. He predicted that, at the current pace of progress, AI will surpass human capabilities in nearly every domain within just a few years. While replacing human labor with AI could unlock unprecedented economic growth and productivity, Amodei emphasized that the short-term consequences will be immense. He expressed deep concern that widespread automation could lead to a large segment of the population becoming unemployed or trapped in low-wage work, forming what he described as an "unemployed or very-low-wage underclass." He also warned of extreme wealth concentration, where a small elite captures the majority of gains from AI-driven productivity, potentially destabilizing society. These outcomes, he called "grave problems" that require coordinated action from AI companies, businesses, philanthropists, and governments. To help address these risks, Amodei and Anthropic’s other co-founders have pledged to donate 80% of their personal wealth to charitable causes. Additionally, the company will match employee donations, potentially amounting to billions of dollars at its current valuation. Amodei’s vision aligns with a 2024 essay in which he argued that once AI becomes both highly effective and nearly free, the current economic system may no longer make sense. He suggested alternatives such as a universal basic income or a new form of AI-driven capitalism that distributes vast resources widely, given the enormous growth in the overall economic pie. Still, he stressed the danger of dystopian or exploitative outcomes, noting that securing a positive future will require active effort and vigilance. "We will likely have to fight to get a good outcome here," he wrote. Business Insider recently consulted seven experts in AI and personal finance on Musk’s vision. Many echoed Amodei’s concerns, advising Americans to continue saving for retirement just in case Musk’s predictions don’t materialize. Even if they do, they stressed, ensuring broad access to AI’s benefits will demand careful planning, policy innovation, and global cooperation.