Robots and stocks. That was the conclusion a local wealth manager and I had as we drove to San Francisco to listen to Ben Bernanke speak some years ago. Recently, as in a few weeks ago, my son spoke of applying to UPS and FedEx for work as a baggage handler. At that time I thought “I sure hope he does well in his computer science major because the baggage handler jobs he applied to will eventually be replaced by robots.” Will, it appears that pace is quickening.
Another person in town suggested that if my son applies to work at UPS and FedEx, he should apply to the driver position citing better benefits and union representation. Again I thought “I sure hope he does well in his computer science major because the driver job will eventually be replaced by robots.” Guess what? This morning I also read an article about Google gaining Federal Aviation Administration (FAA) clearance for drone deliveries: https://www.bloomberg.com/news/articles/2019-04-23/alphabet-s-drone-delivery-business-cleared-for-takeoff-by-faa
This is in addition to the prospect of driverless cars.
Robots and automation are coming. One might as well know how to design, use, and repair them as well as own stock in companies that do. But then again, one needs a job to earn enough money to purchase stock after paying for food, clothing, and shelter. Which job is the question – which job isn’t soon-to-be eliminated by robots? See this McKinsey article for some perspectives on that question: http://www.mckinsey.com/business-functions/digital-mckinsey/our-insights/where-machines-could-replace-humans-and-where-they-cant-yet
Hope you find these reads informative.
UPS’s $20 Billion Tech Bet Was Scorned by Wall Street. Now It’s Paying Off