Billionaire: AI could put workers 'out to pasture'

Billionaire: AI could put workers 'out to pasture'

Matthew J. Belvedere Thursday, 12 Nov 2015 | 10:59 AM ET

In the not-too-distant future, humans in the workplace could go the way of the horse-and-buggy because of the "exponential growth of artificial intelligence," billionaire Jeff Greene said Thursday.

"When we first had the internal combustion engine — the horseless carriages, the car was called — look at all the horses they just put out to pasture," he said, making an ominous comparison to the present-day advances in automation. "We are going to be destroying jobs at a record clip."

"The way software, computers, robots are taking over … what's going to happen more and more is the American worker is going to be marginalized," Greene told CNBC's "Squawk Box" in an interview.

"Artificial intelligence (AI), right now, can do the task of a 100 IQ person," Greene said. Assuming a yearly increase of 1.5 percent in the capabilities of AI, he argued, "Ten years from now … artificial intelligence will do the tasks of a 120 IQ person."

As a result, the 60-year-old Florida real estate mogul said the American economy "could be heading off a cliff," because both Republicans and Democrats are trying to use traditional solutions to "nontraditional problems."

"The current model is not working. We have to figure out how to reinvent the economy," urged Greene, who's hosting in Palm Beach an early December conference of major investors and political figures, in hopes of talking about those new solutions.

Greene, who became a billionaire by shorting the housing market during the financial crisis, has since tripled his wealth by investing in real estate and the markets.

As for stocks, he told CNBC, "I'm not super bullish, but I'm not super bearish," against the backdrop of a possible Federal Reserve interest rate increase next month.

"I think interest rates are going to go up very modestly," he predicted. "[But] there's no way the Fed is going to jack up rates in any crazy way." A rate hike by the Fed would be the first such more in nine years.

But with a shallow path higher for rates, Greene said, "Stocks still in general will do well. [Though] I'd be surprised if you see a 5 percent or 10 percent swing in either direction over the next 12 months."


http://www.cnbc.com/2015/11/12/billionaire-says-ai-could-put-workers-out-to-pasture.html

Comments

Post a Comment

Popular posts from this blog

Report: World’s 1st remote brain surgery via 5G network performed in China

World’s 1st remote brain surgery via 5G network performed in China Published time: 17 Mar, 2019 13:12 ·           A Chinese surgeon has performed the world’s first remote brain surgery using 5G technology, with the patient 3,000km away from the operating doctor. Dr. Ling Zhipei remotely implanted a neurostimulator into his patient’s brain on Saturday, Chinese state-run media  reports . The surgeon manipulated the instruments in the Beijing-based PLAGH hospital from a clinic subsidiary on the southern Hainan island, located 3,000km away. The surgery is said to have lasted three hours and ended successfully. The patient, suffering from Parkinson’s disease, is said to be feeling well after the pioneering operation. The doctor used a computer connected to the next-generation 5G network developed by Chinese tech giant Huawei. The new device enabled a near real-time connection, according to Dr. Ling.  “You barely feel that the patient is 3,000 kilometers away,”  he said.
Read more

Visualizing The Power Of The World's Supercomputers

Visualizing The Power Of The World's Supercomputers   BY TYLER DURDEN FRIDAY, JAN 21, 2022 - 04:15 AM   A supercomputer is a machine that is built to handle billions, if not trillions of calculations at once. Each supercomputer is actually made up of many individual computers (known as nodes) that work together in parallel. A common metric for measuring the performance of these machines is  flops , or  floating point operations per second . In this visualization,  Visual Capitalist's Marcus Lu uses  November 2021 data from  TOP500  to visualize the computing power of the world’s top five supercomputers. For added context, a number of modern consumer devices were included in the comparison. Ranking by Teraflops Because supercomputers can achieve over one quadrillion flops, and consumer devices are much less powerful, we’ve used  teraflops  as our comparison metric. 1 teraflop = 1,000,000,000,000 (1 trillion) flops. Supercomputer Fugaku  was completed in March 202
Read more

BMW traps alleged thief by remotely locking him in car

BMW traps alleged thief by remotely locking him in car Stealer's Wheel? Seattle police department quotes "Watchmen" movie in a recap of the recent arrest. Tech Culture by Gael Fashingbauer Cooper December 4, 2016 5:00 PM PST It's maybe the most satisfying arrest we can imagine. Seattle police caught an alleged car thief by enlisting the help of car maker BMW to both track and then remotely lock the luckless criminal in the very car he was trying to steal. Jonah Spangenthal-Lee, deputy director of communications for the Seattle Police Department, posted a witty summary of the event on the SPD's blog on Wednesday. Turns out if you're inside a stolen car, it's perhaps not the best time to take a nap. "A car thief awoke from a sound slumber Sunday morning (Nov. 27) to find he had been remotely locked inside a stolen BMW, just as Seattle police officers were bearing down on him," Spangenthal-Lee wrote. The suspect found a ke
Read more