so I want to talk to you a little bit
about automation in our previous speaker
talked a little bit about AI but I want
to focus on what’s going to happen in
the next five years some of the
innovations you’re going to be seeing
you know if I gave you a penny today and
two pennies tomorrow and for the next
day and then eight and then 16 doubling
in that fashion you might be surprised
to find out that after only 25 days of
doubling you would have three hundred
and thirty-five thousand dollars and in
fact if I doubled in that fashion for
five more days you’d have almost 11
million dollars now my point here is and
in the previous speaker alluded to it
that Moore’s law has us doubling the
number of transistors on a wafer every
two years and we’ve been doing that now
for 50 years and so we’re actually in
the twenty sixth period of doubling
since 1965 and what that means is is
that our processing power is going up
now it’s not going up by double every
two years because the transistors don’t
necessarily translate into compute power
but they are going up enough and with
the combination of machine learning what
we see in the next five years I’m going
to argue that we’re going to start to
see machines that displace us in San
Francisco a permit was recently pulled
to build a restaurant using an automated
hamburger making robot it grinds its own
meat it slices the tomatoes it makes the
hamburger to your specifications and it
will do 400 hamburgers an hour only one
employee needs to do that
it turns out that The Associated Press
is coming out with articles that have
been written by bots so they’re
replacing journalists the first movie
was actually produced just this year
that was written by a bot and not only
can BOTS write they can also read there
are reading robots that are looking at
your email and they’re determining what
your attitude is and telling the CEO
which of my 10 employees what at what 10
employees are currently the most
disgruntled computers can currently do
that BOTS can currently do that in
agriculture we have Bosch making a robot
that is going to drive down the fields
and punch weeds down into the ground so
instead of using chemicals to kill weeds
they identify the difference between a
crop and a weed and we know that those
weeds will grow back but those robots
are going to continue to roll down the
field and punch them down two or three
more times until they kill them so we’re
seeing advances in agriculture we’re
seeing robots that make our food many of
you saw that uber has announced that
they’re going to have a hundred
self-driving cars in Pittsburgh by the
end of this year now those self-driving
cars will have safety engineers in them
however we know that eventually
self-driving cars are coming and the
question to ask yourself is when are we
going to see that replace human drivers
because 10% of the US population are
actually employed as professional
drivers and that might be a truck driver
a cab driver somebody who’s driving say
a tractor in the field and by the way
500 driverless tractors were sold last
year so we’re going to see tractors out
in the field all by themselves a mine
has recently started or cars coming down
from the
mind to the smelter with no one in the
driver’s seat so all of these
innovations are occurring and we’re
going to see them happen in the next
five years and my argument to you is
that you need to be prepared for this
you need to make your children prepared
for it because it is going to start to
impact our society we have in San Jose a
pizza making robot we have all these
innovations coming and the question is
you know our politicians aren’t even
thinking about the problem if we
displace a worker you know the
conventional wisdom is well they’ll get
a job in another sector but you know I’m
not sure that a professional driver is
going to be able to get a computer job
right away and so we need to as a
society start thinking about how do we
train these people and from a government
standpoint if you lose a worker who is
paying income tax you also then have to
put them on unemployment and so there’s
a double whammy to government and my
question to you is at what point will
someone come up with the idea of
creating a tax on our robots creating a
tax on automation so those are those are
innovations that are going to come and
as parents as investors as citizens I
would encourage you to start encouraging
your children to go into science
technology engineering and math as
investors that will work as well as
investors you can look at companies that
are doing automation over the next five
years but start looking at the Articles
that are being written about robotics
and automation and machine intelligence
it is absolutely amazing and start
thinking about the problems we’re going
to have as a society so that instead of
building walls or doing trade agreements
and worrying about that we’re worrying
about what’s coming next now ultimately
this is going to be a good thing because
we’re all going to be lane
in hammocks and the robots are going to
be building our buildings and making our
food in Australia there’s a company
called fast brick and if you look up
fast brick you’ll see a video of a
30-foot robotic arm grabbing cinder
blocks and stacking them neatly in a way
that can build a house in under two days
so construction is coming mining is
coming service industries are coming and
all these are going to impact jobs we
need to start thinking about it as a
society thank you
about automation in our previous speaker
talked a little bit about AI but I want
to focus on what’s going to happen in
the next five years some of the
innovations you’re going to be seeing
you know if I gave you a penny today and
two pennies tomorrow and for the next
day and then eight and then 16 doubling
in that fashion you might be surprised
to find out that after only 25 days of
doubling you would have three hundred
and thirty-five thousand dollars and in
fact if I doubled in that fashion for
five more days you’d have almost 11
million dollars now my point here is and
in the previous speaker alluded to it
that Moore’s law has us doubling the
number of transistors on a wafer every
two years and we’ve been doing that now
for 50 years and so we’re actually in
the twenty sixth period of doubling
since 1965 and what that means is is
that our processing power is going up
now it’s not going up by double every
two years because the transistors don’t
necessarily translate into compute power
but they are going up enough and with
the combination of machine learning what
we see in the next five years I’m going
to argue that we’re going to start to
see machines that displace us in San
Francisco a permit was recently pulled
to build a restaurant using an automated
hamburger making robot it grinds its own
meat it slices the tomatoes it makes the
hamburger to your specifications and it
will do 400 hamburgers an hour only one
employee needs to do that
it turns out that The Associated Press
is coming out with articles that have
been written by bots so they’re
replacing journalists the first movie
was actually produced just this year
that was written by a bot and not only
can BOTS write they can also read there
are reading robots that are looking at
your email and they’re determining what
your attitude is and telling the CEO
which of my 10 employees what at what 10
employees are currently the most
disgruntled computers can currently do
that BOTS can currently do that in
agriculture we have Bosch making a robot
that is going to drive down the fields
and punch weeds down into the ground so
instead of using chemicals to kill weeds
they identify the difference between a
crop and a weed and we know that those
weeds will grow back but those robots
are going to continue to roll down the
field and punch them down two or three
more times until they kill them so we’re
seeing advances in agriculture we’re
seeing robots that make our food many of
you saw that uber has announced that
they’re going to have a hundred
self-driving cars in Pittsburgh by the
end of this year now those self-driving
cars will have safety engineers in them
however we know that eventually
self-driving cars are coming and the
question to ask yourself is when are we
going to see that replace human drivers
because 10% of the US population are
actually employed as professional
drivers and that might be a truck driver
a cab driver somebody who’s driving say
a tractor in the field and by the way
500 driverless tractors were sold last
year so we’re going to see tractors out
in the field all by themselves a mine
has recently started or cars coming down
from the
mind to the smelter with no one in the
driver’s seat so all of these
innovations are occurring and we’re
going to see them happen in the next
five years and my argument to you is
that you need to be prepared for this
you need to make your children prepared
for it because it is going to start to
impact our society we have in San Jose a
pizza making robot we have all these
innovations coming and the question is
you know our politicians aren’t even
thinking about the problem if we
displace a worker you know the
conventional wisdom is well they’ll get
a job in another sector but you know I’m
not sure that a professional driver is
going to be able to get a computer job
right away and so we need to as a
society start thinking about how do we
train these people and from a government
standpoint if you lose a worker who is
paying income tax you also then have to
put them on unemployment and so there’s
a double whammy to government and my
question to you is at what point will
someone come up with the idea of
creating a tax on our robots creating a
tax on automation so those are those are
innovations that are going to come and
as parents as investors as citizens I
would encourage you to start encouraging
your children to go into science
technology engineering and math as
investors that will work as well as
investors you can look at companies that
are doing automation over the next five
years but start looking at the Articles
that are being written about robotics
and automation and machine intelligence
it is absolutely amazing and start
thinking about the problems we’re going
to have as a society so that instead of
building walls or doing trade agreements
and worrying about that we’re worrying
about what’s coming next now ultimately
this is going to be a good thing because
we’re all going to be lane
in hammocks and the robots are going to
be building our buildings and making our
food in Australia there’s a company
called fast brick and if you look up
fast brick you’ll see a video of a
30-foot robotic arm grabbing cinder
blocks and stacking them neatly in a way
that can build a house in under two days
so construction is coming mining is
coming service industries are coming and
all these are going to impact jobs we
need to start thinking about it as a
society thank you
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