Think: Currently, two major labor strikes are taking place in the U.S.–autoworkers and Hollywood screenwriters (and actors). What do both strikes have in common? Answer: The workers are worried about technology’s impact on their wages and their livelihood. The Economist recently published an interesting opinion piece on AI’s future impact on jobs. The results were counter-intuitive: AI might help average workers the most. Think of it this way: When Uber was created almost anybody could use satellite information to successfully navigate a city’s streets. This “technological upgrade” hurt more established drivers (i.e. those who had spent years learning all of a city’s streets by heart) because suddenly anyone could become a taxi-driver. AI might do the same thing for a great many white collar jobs by allowing “average” people to successfully perform more complex jobs.
Think Ambiguously: Last year, I highlighted a new Taco Bell restaurant in Minnesota that is using AI and robotics to speed up the delivery of its orders. Recently, however, I stumbled upon an article pointing out that TikTok is responsible for slowing down orders at Starbucks. The reason is because many younger customers are ordering a wide assortment of bizarre lattes and then posting their concoctions on TikTok. (Apparently, Starbucks has 334 billion possible different permutations of coffee drinks and making many of these drinks is a time-consuming task.) My point is this: Technology can speed some things up and other things down. When thinking about the future it is wise to embrace ambiguity.
Think Bigger: Tesla is now experimenting with using 3D printers to manufacture car bodies. If this technology works, the company should be able to lower its prices significantly. (Note: Although Tesla is not currently impacted by the autoworkers strike, the 3D printing of auto parts will likely prove to be a future point of contention between car manufacturers and auto workers.)
Think the Unthinkable: Spider silk six times as strong woven directly from spiders? It’s not science fiction, it’s now science fact and this super strong sustainable material could have a huge impact on the textile and clothing industries.
Think Cheaper: Solar power and solar storage prices have dropped almost 90 percent this decade. The trend is expected to continue for the foreseeable future. If you’re in the utility industry, feel free to draw your own conclusions but solar seems to be shining brighter every year. (The visual below is from a separate article–Solar Power is Going Exponential–but its message is the same.)
Afterthought: “Teachers can open the door but you must enter it yourself”.–Chinese proverb
