What he is saying is not really new, it's something many thinkers have considered through the 20th century. The Technocracy_movement predicts that a price system based society must eventually be replaced as the multiplier for work an individual can do increases to a point that only a few people are necessary to cover the production needs of the entire world population. That has deep cultural implications as to how we may change how we consider the value of an individual to society. And this particular example is about 70 years old, so not a new idea by a long shot.
What is new is that the change may happen within our life times, maybe not Hawkings. He's only 74, and maybe he'll be with us for another 25 years, but I think most of us can agree that this isn't going to directly affect him.