Billionaire Mark Cuban said this weekend that AI will cause mass unemployment.
The ‘Shark Tank’ star took to the stage at multimedia celeb festival OZY yesterday to warn that ‘however much change you saw over the past 10 years with the Apple (Nasdaq: AAPL) iPhone, that’s nothing. There’s going to be a lot of unemployed people replaced with technology and if we don’t start dealing with that now, we’re going to have some real problems.’
Indeed, in September 2016, business trends think tank Forrester Research released an exhaustive report anticipating that robots will eliminate 6% of all U. S. jobs by 2021 – 10% of which will occur in the retail industry alone.
And this is where Money Morning Capital Wave Strategist Shah Gilani takes Cuban’s cautionary statement a step further…
This post was published at Wall Street Examiner on July 24, 2017.