IBM’s news is just the start
Ric Edelman: It's Tuesday, May 16th. You've heard a lot about ChatGPT. Do you think that generative AI is no big deal? Well, IBM just announced that it's going to stop hiring workers whose jobs will soon be able to be done by ChatGPT. At IBM alone, we're talking 26,000 people. That's 10% of IBM's total workforce. Back-office functions like HR or any mundane task like issuing employment verification letters or assigning employees from one department to another. All of this is going to be fully automated for now. IBM says they're not going to fire anybody. They're simply not going to hire them. So when people leave IBM, they're not going to get replaced. Software will do their jobs instead.
So I really need to ask you a very simple question in this short program today. What is your occupation? What is the likelihood that a computer will be able to do the bulk of your job? Remember, ChatGPT is free, never calls in sick, never has an attitude, never sexually harasses a worker, never causes problems for the boss. Are you sure that your job is immune?
And while we're at it, what degree is your child planning on pursuing in college? Is the occupation they're planning to pursue with the degree they plan to earn? Is all of that going to get obsolete over the next decade? You need to be anticipating all of this now before you allow your children and grandchildren to spend six years and $100,000 or more amassing $30,000 in debt to get a degree that has no marketable opportunity in commerce in the future.
In fact, if you want to help your kids learn how to make sure that college doesn't ruin their lives, have them watch my Master Class on exactly that subject.
And if you'd like to go in the exact opposite direction and exploit this technology, learn how to make money with it, well, that's an investment opportunity, isn't it? Global X ETFs has two ETFs that invest in technologies of artificial intelligence and robotics. The first is the Global X Artificial Intelligence and Technology ETF, Symbol AIQ, and the second is Global X Robotics and Artificial Intelligence ETF, symbol BOTZ. You can check them both out at Global X ETFs.com. Or ask your financial advisor about generative AI. This is a big deal.
Announcer: The Truth About Your Future with Ric Edelman is sponsored by Charles Schwab. Schwab's passion for serving clients is more than standard practice. It's part of who they are with transparent pricing 24 over seven live support and a satisfaction guarantee. The people at Schwab go the extra mile to help you on your investing journey. They're not just financial people. They're people. People, too. Learn more at schwab.com/schwab; that's schwab.com/schwab
Announcer: The Truth about your Future is sponsored by Global X ETFs.
Listeners of this program enjoy fresh perspectives on the financial topics that matter most, especially the rise of exponential technologies. And right now there may be no faster moving tech story than the rise of artificial intelligence. But despite some exciting new developments like the launch of ChatGPT, we are only beginning to scratch the surface of AI's potential. So which companies will have staying power? As an investor, it's hard to know. Which is why Global X ETFs specializes in thematic investing strategies that harness the potential of numerous companies involved in an emerging trend, all in a single trade. Explore our investment approach along with our latest research on the emergence of AI at Global X ETFs.com/insights.
Announcer: How to advances in science, Technology and medicine translate into investment opportunity. Listen and learn.
Announcer: This is the truth about your future with Ric Edelman.