Are you prepared for the coming jobless economy?
Robonomics describes the coming Automation Revolution and details how artificial intelligence and smart robots will change our economy, our society, and our lives.
When jobs are robo-sourced, how will you make a living when you can no longer trade your labor for money? How will the government deal with mass unemployment and loss of revenue? How will you cope with hyper-deflation?
Robonomics details where to invest and when to take advantage of advanced automation technologies, weather the coming Great Deflation, and maximize investment returns during and after the Automation Revolution.
All will survive the Automation Revolution; the prepared will thrive. Be prepared with Robonomics.
|Product dimensions:||6.00(w) x 9.00(h) x 0.37(d)|
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Reviewed by Charles Remington for Readers' Favorite Robonomics presents a compelling and somewhat worrying view of a near future where virtually all jobs, be they industrial, administrative or academic are performed by robots equipped with artificial intelligence (AI). The case is carefully argued, examining the various workplace areas individually and outlining in detail the way that mechanisation using robotics and AI will affect them. Author John Crews then goes on to give detailed information on the types of companies that will perform well in this new environment, and provides advice on the investment opportunities they will present. He also outlines the organisations that will do badly and which will present poor investment potential, along with advice on the holding of cash and commodity options. Detailed appendices and references are included to complete a fascinating and informative book. The scenario that John Crews outlines in Robonomics is well presented, carefully argued, detailed and logical. It is easy to see that if anthropomorphic robots equipped with artificial intelligence were available to work twenty-four hours a day, seven days a week, without complaint, not requiring meal breaks, holidays or health insurance, employers would be lining up to replace their existing work force with them. What I found difficult to accept was the blasé assumption that the existing workforce will meekly stand by while these changes take place, that governments and corporations would ensure that those left with no employment prospects at all (the majority of the population according to John Crews) would be provided for. It would seem to me that a population with no prospect of employment, no matter how well looked after, would present fertile ground for the world’s zealots and troublemakers. That having been said, Robonomics is an important work, scholarly and well presented. It deserves our attention as I have no doubt that the predicted mechanisation will take place. It is only the final outcome which may be in doubt.
Without a doubt, artificial intelligence and smart robots will be here someday, and take almost every job when they arrive. Where other authors try to convince us the robots are coming, Mr. Crews gives practical advice on protecting your wealth and getting ahead after smart robots are doing all today’s jobs. The author describes how advanced automation (artificial intelligence and, when combined with robotics, smart robots) is already affecting every major industry from agriculture and manufacturing to healthcare and defense. He goes into detail describing how automation will replace more and more human workers, and how the government should also adopt advanced technologies and provide a guaranteed income for all citizens. Crews even proposes an ingenious plan to painlessly make up for revenue lost from income and payroll taxes. The author describes three phases of the automation revolution, and how to invest for each. In the first phase, which we are now entering, investors should consider investing in companies that are at the forefront of AI and robotics, including Google, Facebook, Amazon, Microsoft, and iRobot. As more companies embrace advanced technology and lower their costs, a ‘Great Deflation’ will occur as prices for all kinds of goods and services fall dramatically. During this period, holding cash will be the best investment. Finally, the author details where invest after the automation revolution, including capital investments in leisure, travel, and recreation. Crews also lists industries to avoid investing in (insurance, banks, etc.) and explains which jobs will still be done by humans, although at low pay. In short, Robonomics is a clear, concise, and convincing exploration of the impact of advanced technologies on society in the near future. Highly recommended.