Simon Cowell, the creator and judge of America's Got Talent (AGT), has a dream to pass the torch to his 11-year-old son Eric one day.

In an exclusive interview with PEOPLE, Cowell expressed his desire to have Eric take over his job at AGT, saying, "I would love that. I mean, that would be my dream."

Cowell believes Eric would make a fantastic producer, and his love for the kind of shows AGT offers is a great start. Although Eric is shy and might not be comfortable on camera, he thinks his son could change his mind in the future.

Cowell also shared how his son has changed him as a person. Being a father has made him realize that there are more important things in life than his career. He said, "You realize that there are other things more important actually than your career. I mean, it is the truth."

As AGT celebrates its 20th season, Cowell is looking forward to the next 20 years of the show and hopes to have Eric by his side. He said, "I really do have this feeling that whether it's me or whether it's Eric, my son, you're going to be having a conversation with us in 20 years time saying, 'Well, how was the 40th anniversary?' Because I can't imagine this show not being on now."

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AGT airs Tuesdays at 8 p.m. ET/PT on NBC.