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This Is What Vanguard’s Chief Economist Says Is The Most Important Economic Trend Of Our Lives
Last year, the White House’s annual economic report of the president (under President Barack Obama) forecast an 83% chance that automation will take a job with an hourly wage below $20, a 31% chance automation will take a job with an hourly wage between $20 and $40, and just a 4% chance automation will take a job with an hourly wage above $40.
Technology (in this case AI) is always deflationary. Said another way (using the above forecasts), 83% of low wage jobs will be tasked by automation that does not depend on wages to "live". These goods and services will be ever more affordable (Tech is deflationary), not only for these displaced workers, but for the world at large. Technology brings efficiencies to a system and impact the further growth of human opportunities everywhere.
Answering the question of what it means to be human is an interesting opportunity to have.
Again from Ted's article:
“I don’t care what my kids major in, but I want them to learn three skills: creative intelligence, technological acumen, and emotional intelligence,” he said. “Thinking creatively is the top requirement for a ton of jobs today, everything from chefs to engineers. Social skills -- things involving perception and empathy—will arguably be the most important skill in the future, and it can’t be automated away.”
Comments
From the article: Technology (in this case AI) is always deflationary. Said another way (using the above forecasts), 83% of low wage jobs will be tasked by automation that does not depend on wages to "live". These goods and services will be ever more affordable (Tech is deflationary), not only for these displaced workers, but for the world at large. Technology brings efficiencies to a system and impact the further growth of human opportunities everywhere.
Answering the question of what it means to be human is an interesting opportunity to have.
Again from Ted's article: Interesting Tech Trend Website:
https://technologyreview.com/
@Ted has been a fan of Tech (QQQ).
How do you expose you portfolio to Tech risks and rewards?