Author Topic: Exponential Finance  (Read 2344 times)

krishnamba

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Exponential Finance
« on: September 05, 2014, 07:11:42 AM »
Hi All

I was watching some you tube videos(self learning) from Singularity University.
I came upon a series "Exponential Finance" and how there will be big changes to
how financing works.

Their growing them is

47% of all jobs automated by 2034
40% of SP 500 will be gone in 10 years
50% of financial advisors will be robots

Any one know how this will effect the set it and forget it mentality of retirement plans.
Future jobs and how the economy will be.

http://exponential.singularityu.org/finance/

thanks

briandougherty

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Re: Exponential Finance
« Reply #1 on: September 05, 2014, 08:56:40 AM »
Quote
47% of all jobs automated by 2034
40% of SP 500 will be gone in 10 years
50% of financial advisors will be robots

  • We invest in companies and not jobs so as long as they are profitable
  • We have financial professionals matching the S&P's returns in our index funds and in 10 years it will still be 500 companies regardless of how many changes to the list
  • But our fund will be managed by robots so our expense ratios will go down.

domustachesgrowinhouston

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Re: Exponential Finance
« Reply #2 on: September 05, 2014, 09:46:21 AM »
You mean there are financial advisors that aren't robots???

nordlead

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Re: Exponential Finance
« Reply #3 on: September 05, 2014, 10:34:46 AM »
1) We used to all be farmers, miners, hunters, etc... Many of those jobs have been eliminated due to automation and have been replaced by new jobs. Hopefully the cycle will continue.
2) Nothing new, see the quote below
Quote
between the period when the S&P 500 index was officially formed in 1957 to its 50th anniversary in 2007, only 86 of the original 500 companies still remained. The other 414 had either gone bankrupt, been taken over, or been removed from the index. In that 50-year span, nearly 1,000 companies had been, at some point, added to the index.
3) Why would you build a robot to be a financial advisor? I would think a computer AI would be sufficient and we wouldn't need the physical representation.

mozar

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Re: Exponential Finance
« Reply #4 on: September 05, 2014, 09:28:30 PM »
I think by robot the OP means AI.
I think about this all the time as I am in a career that is slowly being automated, but I don't think it means imminent financial collapse. It's really all about government policy. Scheduling software is making part time work miserable for retail workers for example. If govt policy makes it so that employers have to do steady schedules it could become a middle class job. Manufacturing used to be considered a terrible job with no prospects, until govt policy and unions made it a middle class job.

The best thing you can do is to save money so you are shielded from change.