The rise of technology and whether or not it’ll take away jobs or deliver more to the common people has been a hotly debated topic. On one side we have folks saying technology is great for boosting the Job Market, and on the other, it will put an end to it. No one is fully certain what the future holds for the job market because both sides of the coin have made some excellent points. However, when a billionaire speaks of mass unemployment in the future due to technology, one needs to take notice.
Mark Cuban speaks out
Billionaire Mark Cuban appeared at the second OZY Fest in New York City, and he had a lot to say.
The question and answer panel began with talks about President Donald Trump, among other things. Cuban was asked if he was interested in joining Trump’s cabinet, and to that, he said no. Nonetheless, he hopes to meet with President Trump in the future to talk about the state of the United States.
He then went on to talk about artificial intelligence. He believes the changes we’ve seen to the Apple iPhone and likely other mobile devices where AI is concerned, is nothing special. Cuban added that China is ahead of the United States where AI is concerned, and he may have a point.
Technology taking jobs
Xiaomi is one of the top companies in China, and the company has proven its worth. It created the impressive Xiaomi Mi Robot Vacuum, and at a cheaper price, it's much better than the Roomba 980 and the newest Neato.
It didn’t take very long for the billionaire to mention technology and jobs. He believes business practices will change in the future, ultimately taking jobs away from many Americans.
He’s not wrong. If we look at what many fast food companies are doing today, it’s clear that technology is playing a major role in influencing how things will operate in the future.
Cashiers will likely be a thing of the past, and robots might end up making our lunch and dinner.
Furthermore, companies want to save money to bolster profits. Some of the best ways to do that include fewer employees on the payroll or none at all. For example, if we look at the taxi industry, we can see the rise of self-driving cars on the horizon.
The day will come when a person calls for a Lyft taxi, only to see a car coming up the street with no driver.
Nevertheless, there’s always the chance that mark cuban could be wrong in his assessment. But, with the actions of many technology giants, it's clear artificial intelligence will play a major role in the lives of consumers, and this could affect job growth.
