In his book published in 2013, the economist Thomas Piketty introduced the idea that the return on capital tends to grow faster than labor income. This was probably true in 2013 but it is even more so today with the emergence of artificial intelligence. This phenomenon is precisely accentuated by AI and automation. Most of the innovations that were imagined in science fiction are now being designed and will be deployed worldwide much faster than we think. Owning capital is the only way to build a prosperous economic future, because over the next 20 years, relying on the value of one’s work alone will no longer be sufficient. And there is one thing to understand when we talk about innovation: most people overestimate the time needed to realize an innovation that will come in the distant future (e.g., flying cars) and underestimate the time needed for innovations that will arrive in the near future (autonomous cars, smartphones, etc.) Here are some examples of innovations that will be deployed much more rapidly on a global scale and that are underestimated.
But there is good news with Piketty's observation: In the coming years, the returns that can be obtained as investors will be far superior to what you could achieve over the past 20 years. This means that if we make the right choices by correctly understanding the economic stakes of AI, we can achieve performance far superior to what investors have achieved in the past with stocks like Apple, Amazon, or Google. This notion of growing capital returns is very important to understand in the automated economic world. Become an AI Venture Premium member to not miss any analysis.Note that the subscription price for AI Venture will soon double, increasing from $49/year to $99/year. By subscribing now, the price will not change for you. Become a member today to receive the complete analyses that will be sent exclusively to Premium members twice a week. Upcoming articles.
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Minggu, 23 Juni 2024
Why work will soon have no value
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