United Kingdom, Feb. 6 -- Elon Musk believes AI and robotics hold the key to America's financial future.

The billionaire businessman has suggested that the US must embrace cutting-edge technologies - or the country will risk facing bankruptcy.

During an appearance on the Dwarkesh podcast, Musk explained: "I think in the absence of AI and robotics, we're actually totally screwed."

The Tesla boss observed that the US national debt risks spiralling out of control in the coming years. However, he suggested that AI could help America to regain control of its finances.

Musk said: "The national debt is piling up like crazy. Our interest payments on the national debt exceed the military budget, which is a trillion dollars. Over a trillion dol...