Can Tesla Bot Help With Labor Shortages? Here's What Elon Musk Said

Could an artificial intelligence robot help solve labor shortages seen across many industries? One of the most influential voices of the current times seems to think so.

What Happened: First unveiled at Tesla AI Day in August, the Tesla Bot is one of the latest items from Tesla Inc TSLA CEO Elon Musk. 

Standing at 5’8” tall, the Tesla Bot will be able to carry 45 lbs and will weigh 125 lbs. The Tesla Bot will be able to run at a maximum speed of 5 mph, which is one of the reasons why Musk sees the robot being safe.

The humanoid robot was designed with a goal of eliminating dangerous, repetitive and boring tasks. Musk provided an update on the Tesla Bot at the Wall Street Journal’s CEO Council Summit.

“It (Tesla Bot) has the potential to be a generalized substitute for human labor over time. The foundation of the economy is labor,” Musk said.

The Tesla CEO discussed a rapidly declining birthrate during his talk.

“There are not enough people. I can’t emphasize this enough. There are not enough people.”

Musk said many think there are too many people in the world and an out of control population is being seen, but it is the opposite according to the CEO.

“If people don’t have children, civilization is going to crumble, mark my words.”

Related Link: 5 Things You Might Not Know About Elon Musk 

Why It’s Important: Tesla is expected to release a prototype of the Tesla Bot next year. Tesla has been actively hiring for its Tesla Bot division, with many job postings related to manufacturing and engineering.

Musk said at the panel that Tesla is creating the most advanced artificial intelligence for navigating the world.

“You can also think of Tesla as the world’s biggest robot company,” Musk said. “The car is already kind of like a robot on four wheels.”

Tesla could put the same technology used in its vehicles to help make a humanoid robot “useful,” Musk added.

Musk said Tesla will get the artificial intelligence right for future use, adding that he didn’t know exactly when that will happen.

Price Action: TSLA shares were up 4% to $1,051.75 on Tuesday.

Also See: Elon Musk Says CEO Is A 'Made-Up Title,' Says This Is Tesla's 'Best Product Ever'

Photo: Courtesy of Unsplash