Man who predicted dot com crash reveals jobs he's convinced AI will replace first
Jeremy Grantham, an investment expert with decades of experience, sat down and explained why he believes AI is destined to disrupt the jobs market, and which ones will see themselves replaced within the next few years.
He is the co-founder of GMO, an institutional investment firm in Boston, and is its long-term investment strategist.
So, he knows his stuff when it comes to markets and new innovations.
However, while many people have hopped on the trend of Artificial Intelligence and Agentic AI, robotics and Machine Learning, he is seemingly taking a back step.
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This, he says, is because the ‘bubble’ is soon to burst, and with that, comes a major impact on everyone around the world.
The expert spoke with Steven Barttlett to discuss AI and there, he revealed on The Diary of A CEO podcast that there is one job that could be replaced the fastest.
That’s simple operations work.
When Steven was discussing a video he saw of a side-by-side comparison between a robot with AI intelligence sorting parcels for seven days in a row, compared to a human worker who requires sleep and toilet breaks – he made the point that the robot needs a lot less to function.
Thus, this means that it would be a cheaper solution to use robots, which could provide faster results and therefore profits.
To this, Jeremy agreed that with the rise of AI, it is ‘likely that there will be significant job disruption’ and warned that it could even see the world turn to bartering over chips and power.
He said: “The population of chip users has expanded [so] that robots are everywhere. Their energy demand is massive beyond belief and [sic] the world is a very, very, dangerous place. I had much prefer them to fail and the ideas to move much more slowly to buy time for humans to work these things out.”
Then he went on to say the implication would cause hard times for all, as robots replace human jobs, leaving people unemployed and unable to make a living.
Jeremy also warned that it could see the world create its own end, as he says AI is destined to fail, be it within ‘days’ or weeks, months or even years.
As for our future and what we should be focusing on, he suggested engineering or something ‘practical’ like crop farming, as he says the world is starting to ‘lose the plot’ right now – signaling that things will eventually ‘unravel’.
Well, that’s just great.
Considering he predicted both the 2000 dot-com stock market crash that saw many website companies fail, and the 2008 financial crash, he might be on to something here.