The Intellectual Investor

The AI Revolution – Ep 228

Aug 15, 2024

Dive into a riveting discussion on the transformative impact of artificial intelligence. Explore how AI could automate a wide array of jobs, from blue-collar to white-collar sectors. The conversation highlights historical trends in technology and the subtle yet significant progress over the centuries. Discover the societal implications of an AI-driven future, including the necessity for adaptation and the investment opportunities arising from this revolution. Get ready for a thought-provoking look at the future shaped by AI!

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Quick takeaways

AI implementation could automate up to 54% of jobs in sectors like banking, highlighting the urgent need for workforce retraining.

The evolution of autonomous vehicles, particularly robotaxis, presents potential disruptions for companies like Uber, necessitating adaptability in transportation strategies.

Deep dives

The Transformative Impact of AI on Employment

AI is poised to fundamentally change the employment landscape across various industries, potentially automating a significant portion of jobs. Reports indicate that in sectors like banking, up to 54% of jobs could be at risk due to AI implementation, affecting both blue and white-collar positions. This technological shift echoes historical transitions where advancements, such as the replacement of manual labor on farms by machinery, led to the creation of new occupations that had not previously existed. While the immediate focus may be on the jobs being lost, the challenge lies in anticipating and preparing for the new roles that AI will create in the future.

Exploring the Impact and Implications of the AI Revolution

10min

The discussion of AI quickly falls into a domain bordering on Sci-Fi. My thoughts here are only marginally shaped by scientific facts.

If you look at technological progress over the centuries through the lens of productivity, the improvement was tiny, barely noticeable. Our ability to do the same tasks maybe improved a few basis points a year for millennia. People figured out fire, learned how to use levers, and created a wheel.

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WHO AM I: Vitaliy Katsenelson is the CEO of Investment Management Associates (IMA) in 2012. Forbes Magazine called him “The New Benjamin Graham.” He’s written for publications including Financial Times, Barron’s, Institutional Investor, and Foreign Policy.

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