American billionaire Mark Cuban says the world's first trillionaires will be the ones who invest in artificial intelligence technology (AI).
“I am telling you, the world's first trillionaires are going to come from somebody who masters AI and all its derivatives and applies it in ways we never thought of,” the Shark Tank billionaire said on Sunday at the SXSW Conference and Festivals in Austin.
Faster than ever computer processors along with exponentially larger data sets are currently laying the cornerstone for the rapid development of artificial intelligence to new industries like insurance, according to Cuban.
“We will see more technological advances over the next ten years than we have over the last thirty. It's just going to blow everything away,” he said.
To prove the point the investor said Google, which had recently started using AI, added $9 billion in revenue as a result.
“Whatever you are studying right now if you are not getting up to speed on deep learning, neural networks, etc., you lose. We are going through the process where software will automate software, automation will automate automation,” said Cuban.
The most wanted jobs and skill sets in the labor market will definitely change, according to the businessman.
“I would not want to be a Certified Public Accountant (CPA) right now. I would not want to be an accountant right now. I would rather be a philosophy major,” he said.
“Knowing how to critically think and assess them from a global perspective I think is going to be more valuable than what we see as exciting careers today which might be programming or CPA or those types of things,” Cuban added.
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At the same time, the billionaire warned that low-skilled employees had already been losing jobs to robots and automation. Cuban called for deeper consideration of ways to create good jobs for Americans who have been put out of work by robots and AI.