AI and The “Detroitification” of Everything

300 million jobs? [Altucher Confidential] April 18, 2023 [WEBSITE]( | [UNSUBSCRIBE]( If all else fails, there’s always plumber school. [Hero_Image] AI and The “Detroitification” of Everything By Chris Campbell External Advertisement The Most Explosive Crypto Event of 2023 Crypto investors are confused. Should you buy, HODL, or bail on the market? Well, all your questions will be answered at the upcoming…[Digital Currency Summit.]( We're gathering 27 of the world's top crypto experts including crypto insiders, company CEOs, multi-billion dollar hedge funds, and some of the top investors at the heart of the cryptoverse. And we will give you the "Crypto Hot List" of the most promising opportunities of the new year. [Click here to register now for free.]( [Chris Campbell] CHRIS CAMPBELL Dear Reader, In the distant lands of Goldman Sachs, a prophecy was foretold… Artificial intelligence will replace a staggering 300 million jobs worldwide by 2030, leaving us all with a lot more free time on our hands. Now, I know what you’re thinking: 300 million jobs is massive. And you’re right. According to Statista, there are about 337 million full-time jobs in the US and the EU. From that vantage point, AI already feels a little Terminator-ish. [ALC] But should we really be concerned? Or should we simply relax and let the machines do their thing? One faction - the Evangelists- thinks we should go ahead. It’ll be fine, they say. AI is here to stay. New jobs will materialize. The other faction - the Skeptics - disagree, claiming that AI means the end of the world as we know it (TETWAWKI) and that the government must step in to save us from doom. Both sides miss the mark. Here’s why. The Evangelists Are Right Yes, technology has historically created far more jobs than it has destroyed. If you look at everything from the cotton gin to fracking, this is true across the board. Consider the following: → In 1940, 60% of today’s jobs didn’t exist. Since 1940, 85% of job growth has been due to technology. → In 1800, 90% of Americans worked in agriculture. By 1900, that number was only 40%. Today? It’s 1.3%. And yet, we have more jobs. → In 1900, only 5% of the U.S. workforce was employed in clerical and administrative jobs. By 1950, that figure had risen to 22%, thanks to the widespread adoption of typewriters and adding machines. → The growth of the internet and e-commerce has created a massive number of new jobs, from web developers and online marketers to warehouse workers and delivery drivers. → Advances in medical technology have created new jobs in areas like telemedicine, remote monitoring, and medical device development. → Technology has revolutionized the entertainment industry, creating new jobs in areas like video game design, animation, and digital special effects. → The growth of e-learning and online education has created new jobs in areas like instructional design, curriculum development, and online teaching. In Daniel Pink’s 2012 book A Whole New Mind, he predicts that automation will slice and dice the left-brain tasks… creating millions of new opportunities for more creative, right-brained tasks. On the other hand, maybe the panic merchants are onto something… Urgent Note From James – Response Requested By April 18, 2023 [Click here for more...]( Hey, it’s James. [I just made a massive change to my Altucher’s Investment Network newsletter.]( This is one of the biggest changes to a newsletter in the history of our business… As far as I know, nothing like it has ever been done before. What’s going on? In short, I’m adding 3 brand-new benefits to this all-new “Pro level” of Altucher’s Investment Network. And as one of my readers, I’d hate to see you left behind. That’s why – for a very limited time, until the timer below hits 0 – [you’ll be able to upgrade your current subscription to this new “Pro level” by clicking here.]( [Click here to learn more]( [Seriously. Just click here now to see how to claim your upgrade.]( The Panic Merchants Are Right Perhaps the market adjustments won’t happen this time around, say the Skeptics. Maybe they’ll be too fast and too disruptive. Scary thought: What if the entire world becomes Detroit? Detroit lost tens of thousands of car jobs, never to be replaced. Meanwhile, other cities like Austin, Denver, and Seattle are bursting at the seams with labor shortages. The difference is that Detroit's government made it almost impossible for businesses to operate with their bureaucratic micromanagement, regulations, and harassment. In the past, the market was able to adapt to technological disruption… BUT, as Detroit revealed, it’s not a foregone conclusion… If governments don't allow room for adaptation -- choosing instead to suck all the blood out of the private sector -- then, sure, the bulk of those 300 million jobs won’t be replaced. If it becomes increasingly more difficult to start a business in the age of AI, then… The entire world becomes Detroit. Fortunately, that won’t happen. The Good News The truth will probably be somewhere in the middle. The skeptic’s case assumes our problems will all disappear because AI will solve them. That’s obviously not going to happen. Entrepreneurs will still exist because, at their core, they solve problems. More than ever, states will have to compete for talent. And they will quickly learn that money and talent flows where it’s treated best. Also… Our economy is currently bottlenecked by tedious, repetitive tasks that a literal robot can do. AI will cut through those tasks, allowing individuals to move on to more risky, abstract, creative projects. Solopreneurs should skyrocket. With AI, one person will be able to command an army of digital servants. Also, the world might turn right-side up. Blue collar jobs, according to the report, look like they’ll be largely unaffected. Those most safe from AI: Building and Grounds Cleaning and Maintenance (~95%), followed by Installation, Maintenance and Repair (~85%), Construction and Extraction (~75%), Production (~72%), Transportation and Material Moving (~65%), and Food Preparation and Serving Related (~50%). The effects will be felt more in developed countries than in emerging markets, since the latter rely so much more on manual labor, and it seems that affordable general-purpose robots are still a fair way off. In the end, we’ll be OK. And if all else fails… There’s always plumber school. Until tomorrow, [Chris Campbell] Chris Campbell For Altucher Confidential --------------------------------------------------------------- Oil Surge Predicted... Are You Prepared? JPMorgan commodities analyst Natasha Kaneva agrees with me – she predicts the U.S. retail price has the potential to surge to a $6.20/gallon national average. If gas hits $6 per gallon, there are a lot of U.S. households who will struggle to afford the gas they need to commute to their jobs. It’s coming… And we’re just days away.. [I just revealed my #1 way to profit from oil in 2023.]( And after the recent OPEC cut announcement – there is no time to waste. [Click here to get all the details and watch my urgent video now.]( [Paradigm]( ☰ ⊗ [ARCHIVE]( [ABOUT]( [Contact Us]( © 2023 Paradigm Press, LLC. 808 Saint Paul Street, Baltimore MD 21202. By submitting your email address, you consent to Paradigm Press, LLC. delivering daily email issues and advertisements. To end your Altucher Confidential e-mail subscription and associated external offers sent from Altucher Confidential, feel free to [click here.]( Please note: the mailbox associated with this email address is not monitored, so do not reply to this message. We welcome comments or suggestions at feedback@altucherconfidential.com. This address is for feedback only. 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