Elon Musk participated in a wide-ranging discussion with BlackRock CEO Larry Fink at the World Economic Forum in Davos on Thursday.

When the conversation turned to the topic of robotics, Musk expressed his belief that the number of robots will surpass the human population in the future, and that every individual will possess their own robot.

Musk stated, "In the future, robots will manufacture so many other robots that they will entirely fulfill all human needs. This implies that at a certain point, you won't even need to think about what to request from a robot, because there will be such an abundance of goods and services available for you to choose from. At that time, there will be more robots than people. I believe every person on Earth will have a humanoid robot, because you will want a robot to look after your children, care for your pets, and tend to your aging parents.

I am extremely optimistic about the future. I think we are moving towards a future of extreme material abundance, which is truly fantastic. Without a doubt, we are living in the most interesting era in history."