Hello, Reader.
When I say “The Godfather,” you likely think of a gangster-fied Marlon Brando famously threatening to make some poor soul an irrefusable offer.
However, as we keep heading down the Road to AGI, we probably should be thinking of Geoffrey E. Hinton.
On Tuesday, this British-Canadian professor, often referred as “the Godfather of AI,” won the Nobel Prize in Physics. He won this award alongside American professor John J. Hopfield for their revolutionary research that laid the foundation for modern artificial intelligence.
Since the 1980s, the two men have been developing tools from physics to create what we now know as “machine learning.” Machine learning is a type of AI that allows computers to learn and improve. It is used in voice recognition, internet search, the automation of factories, and autonomous vehicles.
Hopfield and Hilton have been at the forefront of AI technology for nearly half a century. But now, the “the Godfather of AI” openly expresses his concerns about the technology. In fact, Hinton worked at Google Brain – one of the company’s deep learning research team – for a decade before he publicly quit last year to speak about the dangers of AI.
“It is hard to see how you can prevent the bad actors from using it for bad things,” he said in an interview with The New York Times in May 2023.
Indeed, AI is both a creative and destructive force. And among the things that AI will destroy are millions of jobs.
We saw one of the effects of this threat just last week when the International Longshoremen’s Association (INA) went on strike, asking for higher wages… and citing the risk of AI automation.
So, in today’s Smart Money, let’s dive into this recent news and the lessons it teaches about the AI Revolution.
Then, we’ll look at one of AI’s most recent beneficial creations – and at how to profit from it.
Strike!
In short, the ILA had been negotiating with the U.S. Maritime Alliance over a new labor contract. The union, which represents about 45,000 dockworkers, was threatening its first major strike since 1977.
At midnight, Tuesday, October 1, negotiations broke down. And the strike officially commenced.
These ports handle about 50% of goods shipped to and from the U.S. So, three dozen locations at 14 U.S. ports from Maine to Texas were impacted, effectively stopping containers from being shipped to and from our Atlantic and Gulf Coast ports.
So, this was a big deal.
And, besides the desire increased pay, the biggest catalyst was all about a job security from AI-powered robotic automation.
The dockworkers were worried about the ports getting automated and losing their jobs in the long term. Harold Daggett, the union boss who led the strike, said that his members were “steadfastly against any form of automation – full or semi – that replaces jobs or historical work functions.”
In other words, no robots when it comes to loading and unloading freight. That includes cranes, gates, and moving containers.
However, the longshoremen reached a temporary end to their strike and were back at work on Friday. Their current contract has been extended to mid-January. After that, they’ll receive a 61.5% pay increase over the next six years, though they still have to hammer out the contract to make sure they’re protected from automation.
However, the reality is that automation and AI are coming, no matter how finely worded the final agreement is. The proverbial horse has left the barn.
Renowned MIT economics professor Daron Acemoglu believes that AI will take over 8.4 million jobs in the U.S in the next decade.
Automation and AI advances are inevitable. They are going to reshape our world in the months and years to come.
So, what can we do to prepare?
Embrace the Change AI Brings
Embrace the change… and invest in it, too.
After all, the opportunities that AI brings are simply offers we can’t afford to refuse.
Unfortunately, plenty of companies will fail to adapt. They’ll be rendered completely obsolete as AI technology reshapes the business landscape.
AI technology will usher in sweeping societal changes… just like the personal computer, the internet, and the smartphone did. Only the changes this time will be even faster and more disruptive.
And robotic automation is one of them.
Robots don’t sleep. They don’t take vacations. They never need a break, and they’re more efficient.
That’s why, while I wish the longshoremen nothing but good luck in their negotiations, my advice to them is to get trained in the new AI technologies… and to demand higher wages for their enhanced productivity.
The power of this model isn’t lost on the world’s richest man, Elon Musk.
Tomorrow, October 10, Musk is scheduled to reveal the Tesla Inc. (TSLA) “robotaxi,” a fully automated car with no mirrors, no pedals, and no steering wheels. This “Cybercab” will rely 100% on AI-powered sensors in order to find its way around.
My InvestorPlace colleague Luke Lango says that Musk’s “We, Robot” event will be the tipping point for robotaxis and other AVs to go mainstream in 2025.
Luke is someone you want to pay attention to…
His subscribers have been cashing in on his prior recommendations over the last few months.
For example, just since August, Luke’s Early Stage Investor subscribers have locked in:
270% gains on AST SpaceMobile Inc. (ASTS)
50% gains on Life Time Group Holdings Inc. (LTH)
50% gains on On Holding AG (ONON)
120% gains on Palantir Technologies Inc. (PLTR)
And 110% gains on Rocket Lab USA Inc. (RKLB)
A big “congrats” to Luke’s subscribers. But they’re not coasting on these returns.
Luke has identified a little-known robotaxi supplier that he believes could play a key role in the Tesla’s Cybercab… and potentially make investors a lot of money along the way.
That’s why I encourage you to check out Luke’surgent broadcast for investors ahead of Musk’s major AI event. You can click here to watch his briefing.
The robotaxi is set to completely transform transportation – and create an incredible amount of wealth for investors who get in on the early stages. I want you to be one of them, and Luke does, too.
Click here for more details in his full video broadcast.
Regards,
Eric Fry
The post Strike or No Strike, AI Is Still Coming for Longshoremenâs Jobs appeared first on InvestorPlace.
Hello, Reader.
When I say “The Godfather,” you likely think of a gangster-fied Marlon Brando famously threatening to make some poor soul an irrefusable offer.
However, as we keep heading down the Road to AGI, we probably should be thinking of Geoffrey E. Hinton.
On Tuesday, this British-Canadian professor, often referred as “the Godfather of AI,” won the Nobel Prize in Physics. He won this award alongside American professor John J. Hopfield for their revolutionary research that laid the foundation for modern artificial intelligence.
Since the 1980s, the two men have been developing tools from physics to create what we now know as “machine learning.” Machine learning is a type of AI that allows computers to learn and improve. It is used in voice recognition, internet search, the automation of factories, and autonomous vehicles.
Hopfield and Hilton have been at the forefront of AI technology for nearly half a century. But now, the “the Godfather of AI” openly expresses his concerns about the technology. In fact, Hinton worked at Google Brain – one of the company’s deep learning research team – for a decade before he publicly quit last year to speak about the dangers of AI.
“It is hard to see how you can prevent the bad actors from using it for bad things,” he said in an interview with The New York Times in May 2023.
Indeed, AI is both a creative and destructive force. And among the things that AI will destroy are millions of jobs.
We saw one of the effects of this threat just last week when the International Longshoremen’s Association (INA) went on strike, asking for higher wages… and citing the risk of AI automation.
So, in today’s Smart Money, let’s dive into this recent news and the lessons it teaches about the AI Revolution.
Then, we’ll look at one of AI’s most recent beneficial creations – and at how to profit from it.
Strike!
In short, the ILA had been negotiating with the U.S. Maritime Alliance over a new labor contract. The union, which represents about 45,000 dockworkers, was threatening its first major strike since 1977.
At midnight, Tuesday, October 1, negotiations broke down. And the strike officially commenced.
These ports handle about 50% of goods shipped to and from the U.S. So, three dozen locations at 14 U.S. ports from Maine to Texas were impacted, effectively stopping containers from being shipped to and from our Atlantic and Gulf Coast ports.
So, this was a big deal.
And, besides the desire increased pay, the biggest catalyst was all about a job security from AI-powered robotic automation.
The dockworkers were worried about the ports getting automated and losing their jobs in the long term. Harold Daggett, the union boss who led the strike, said that his members were “steadfastly against any form of automation – full or semi – that replaces jobs or historical work functions.”
In other words, no robots when it comes to loading and unloading freight. That includes cranes, gates, and moving containers.
However, the longshoremen reached a temporary end to their strike and were back at work on Friday. Their current contract has been extended to mid-January. After that, they’ll receive a 61.5% pay increase over the next six years, though they still have to hammer out the contract to make sure they’re protected from automation.
However, the reality is that automation and AI are coming, no matter how finely worded the final agreement is. The proverbial horse has left the barn.
Renowned MIT economics professor Daron Acemoglu believes that AI will take over 8.4 million jobs in the U.S in the next decade.
Automation and AI advances are inevitable. They are going to reshape our world in the months and years to come.
So, what can we do to prepare?
Embrace the Change AI Brings
Embrace the change… and invest in it, too.
After all, the opportunities that AI brings are simply offers we can’t afford to refuse.
Unfortunately, plenty of companies will fail to adapt. They’ll be rendered completely obsolete as AI technology reshapes the business landscape.
AI technology will usher in sweeping societal changes… just like the personal computer, the internet, and the smartphone did. Only the changes this time will be even faster and more disruptive.
And robotic automation is one of them.
Robots don’t sleep. They don’t take vacations. They never need a break, and they’re more efficient.
That’s why, while I wish the longshoremen nothing but good luck in their negotiations, my advice to them is to get trained in the new AI technologies… and to demand higher wages for their enhanced productivity.
The power of this model isn’t lost on the world’s richest man, Elon Musk.
Tomorrow, October 10, Musk is scheduled to reveal the Tesla Inc. (TSLA) “robotaxi,” a fully automated car with no mirrors, no pedals, and no steering wheels. This “Cybercab” will rely 100% on AI-powered sensors in order to find its way around.
My InvestorPlace colleague Luke Lango says that Musk’s “We, Robot” event will be the tipping point for robotaxis and other AVs to go mainstream in 2025.
Luke is someone you want to pay attention to…
His subscribers have been cashing in on his prior recommendations over the last few months.
For example, just since August, Luke’s Early Stage Investor subscribers have locked in:
270% gains on AST SpaceMobile Inc. (ASTS)
50% gains on Life Time Group Holdings Inc. (LTH)
50% gains on On Holding AG (ONON)
120% gains on Palantir Technologies Inc. (PLTR)
And 110% gains on Rocket Lab USA Inc. (RKLB)
A big “congrats” to Luke’s subscribers. But they’re not coasting on these returns.
Luke has identified a little-known robotaxi supplier that he believes could play a key role in the Tesla’s Cybercab… and potentially make investors a lot of money along the way.
That’s why I encourage you to check out Luke’surgent broadcast for investors ahead of Musk’s major AI event. You can click here to watch his briefing.
The robotaxi is set to completely transform transportation – and create an incredible amount of wealth for investors who get in on the early stages. I want you to be one of them, and Luke does, too.
Click here for more details in his full video broadcast.
Regards,
Eric FryThe post Strike or No Strike, AI Is Still Coming for Longshoremenâs Jobs appeared first on InvestorPlace. Read MoreMarket Analysis
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