AI Bots Startups Will Be Trillionaires Says Mark Cuban

Ever sat at your desk in your office and felt like a machine crunching through numbers? Well, the machines may take your place on that very desk in a few years. According to Mark Cuban, Owner of Dallas Mavericks, the next ten years will see technological growth. It will grow at a faster rate than in the last three decades. Already AI bots are taking over jobs like accountants, software programming. In fact, Microsoft’s DeepCoder has already taken a step towards self-programming.

AI bots and Employment

Much has been spoken about AI bots and how they are taking over jobs already. You must think the world would go through a period of economic instability. While that might be true to a certain degree, Mark Cuban is of the view that the world’s first trillionaires will be startups that deal with AI bots.

Startups rise with a great idea – problem-solving. What if the problems are already getting solved? The AI bots are paving the way towards a human-free environment. This is not the best time for low-skills. With technological advancement at automation level, the low-skills workers might rapidly lose their jobs shortly.

We already saw several startups shut down in 2016 because they were heavily reliant on logistics and operations. Investors are now moving towards AI based startups as they offer a promising view of the future.

Changing ecosystem of workplace

With AI bots ruling the workplace ecosystem, will human intelligence lose its value? Mark Cuban believes otherwise! He says the value of critical thinking will be far more essential today than it was before. The reason is simple – with AI bots handling the mediocre calculative tasks, even critical thinking and emotional analysis might take precedence.

“Knowing how to critically think and assess them from a global perspective I think is going to be more valuable than what we see as exciting careers today which might be programming or CPA or those types of things, I would not want to be an accountant right now. I would rather be a philosophy major,” says Cuban.

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What does this mean for the next generation?

This means that those who belonged to the lower middle section of the society will lose jobs at a faster pace. This is because they seldom get the chance to enhance their skills. So they join delivery tasks and sometimes become cab drivers. We already know self-driven cars are paving their way to the streets.

A change in the skill set is the only way to sustain employment in this changing economic structure.

Automation poses a threat to 69% jobs in India” World Bank

World Bank made an announcement that shook the nation. Nearly 77 per cent jobs in China and 69 per cent jobs in India are at a threat of being taken over by AI. More than the developed countries, AI bots will affect the developing countries (like India). The entire course of the economic development of the country is at stake here.

However, Satya Nadella had something else to point out –
[quotes quotes_style=”bquotes” quotes_pos=”center”]In a country like India, where there is going to be a services-led economy, there are going to be many, many jobs. There is many things AI will never be able to do… (like) show empathy.[/quotes]
He further went on to say –
[quotes quotes_style=”bquotes” quotes_pos=”center”]When there is a lot of artificial intelligence, real intelligence will be scarce; real empathy will be scarce, real common sense will be scarce. So, we can have new jobs that are predicated on those attributes.[/quotes]
Nadella points out the attributes, but it is still unclear the aspects in which they will be useful. But for now, we understand that to sustain employ-ability you need to develop soft skills.

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