from King World News
With key global stock markets all trading lower, is this really where the world is now headed?
Here is a portion of today’s note from Art Cashin: Of Self-Driving Cars And Whether The Luddites Were Just A Couple Of Centuries Early – A little over a week ago, I had the pleasure of having dinner with David Kotok, Ron Insana, Barry Ritholtz, Steve Kroll and Matt McAleer. The topics and conversations were rather wide-ranging. One topic we hit briefly on was the looming wave of automation and artificial intelligence that could potentially have the biggest impact on labor since the Industrial Revolution.
In the early days of automation, the functions replaced were usually simple repetitive functions like streaming fabric on weaving looms. Even well into the 20th century, the target continued to be specific repetitive functions – welding a specific joint, turning a specific nut.