A study by the Oxford Martin School had projected that automation will erase 47% of all jobs in developed nations over the next 25 years.
At the time, I promised to continue documenting the rise of robots and report any notable developments in the space.
And I’m sorry to say that the timeline has been severely reduced for some Americans.
A new study by McKinsey & Co. indicates that — in a best-case scenario — one-third of the workforce in the U.S. will be replaced by AI after 2030.
Manufacturing jobs aren’t the only ones at risk, either.
Many careers that involve collecting and processing data will be automated by that time as well.
And robots are targeting one data-driven sector in particular: finance.
In fact, the timeline is even shorter…
Out of 300,000 jobs in asset management worldwide, 90,000 will be controlled by AI by 2025.
If computing power and data generation keep growing at the current rate… machine learning could be involved in 99% of investment management in 25 years. — Man Group CEO Luke Ellis
Would you trust your money with a robot?
Based on recent news about layoffs at Blue Apron, it appears that management sold the hype around its IPO knowing that the business itself was unstable. As a result, Blue Apron shares are under incredible selling pressure — down 50% since its IPO. If you didn’t see the Blue Apron meltdown coming, you ain’t seen nothing yet! Here are three more impending market disasters… Read more »
Do NOT Deposit Another Dollar in Your Bank Account Until You Read THIS
A CIA insider has launched an urgent mission to expose the government’s secret money lockdown plan…
Once you see what could happen next time you go to an ATM, you’ll understand why he’s sending a FREE copy of his new book to any American who answers right here.
Over the last three years, the SPDR Gold Shares ETF (GLD) has lollygagged in a sideways direction. Still, some folks will insist on owning proxies for gold rather than actual gold bullion. If you’re among those who favor paper gold, don’t simply buy an ETF. Read more »
A 22-year-old Newsweek article just resurrected itself and it’s now going viral. It contains criticism of the internet that has proven eerily accurate. But it also raises the question… Is the internet good or evil? Read more »
Congratulations to Elon Musk. He wins the honor of having today’s most insane chart! Clearly, Tesla will need a cash infusion to continue its R&D binge. Read more »