After reading an email letter (posted below) its even more clear to me that theres something even more chaotic developing within the pricing mechanism in all markets. I found myself thinking that its interesting that with all such technological replacements in labor, dramatic cost reducing technology to boot, why havent these reduced costs played out for the consumer? Take some guesses. Heres the letter: The End of Humanity? By Jocelynn Smith, Managing Editor Artificial intelligence could be the end of humanity. Or so world-renowned theoretical physicist Stephen Hawking warned this week. He believes that AI would have the ability to learn and adapt at a far faster rate than humans, “who are limited by slow biological evolution.” Even Elon Musk, chief executive of Space X, warns that AI is “our biggest existential threat.” While true AI is still likely to be decades away, we are already seeing a rise in robots being used to replace humans in many jobs. Recently, Nestle added Pepper, a chatty android, to stores in Japan to sell its Nespresso brand coffee machines. The Swiss company will add the robot, which understands up to 80% of conversations, to 1,000 stores. Pepper is already in 74 Softbank stores in Japan selling mobile phones. The trend is growing as more stores and restaurants use robots to replace humans. A restaurant in China is using more than a dozen robots to cook and deliver food, while the noodle robot can make twice as many noodles as a human chef and costs less than half the human chef. Jeff Opdyke has encountered self-service machines at a McDonald’s in Madrid, Spain. Farms are also adding more robots to milk cows and monitor their output. The technological revolution grinds on with robots snatching up the jobs we quickly overlook or take for granted. Combined with the movement to increase minimum wage, robots are going to make it harder for many people to find jobs. To survive, this large, unemployed workforce will keep pressure on government programs, which are run by an already deeply indebted government. America’s fragile economy still has to face a Fed poised to raise interest rates. The threat of rising unemployment could further hinder our recovery. That’s why it is critical for you to be aware of growth overseas as well as at home. We at The Sovereign Society will continue to alert you on opportunities to diversify and protect your assets as Americans adapt to changes in technology and the financial marketplace. Regards, Jocelynn Smith, Managing Editor, Sovereign Investor Daily
Posted on: Sat, 06 Dec 2014 16:46:57 +0000
Trending Topics
Recently Viewed Topics
© 2015