Billionaire Mark Cuban believes the world’s first trillionaire will come from the artificial intelligence (AI) industry. The businessman also suggested solutions for the lost jobs that AI could eventually cause.
The Dallas Mavericks owner expressed his views at the SXSW festival in Austin, Texas. He explained that AI promises untold revenues to the person who could cleverly tap the industry. To date, industry bigwigs know that AI is all around us.
Cuban’s sentiment has been echoed by Bob Lord, an inequality analyst and tax attorney. He opined that vast wealth will be attained by someone who will create something no one has ever conceived of.
Tech Titan About to Hit the Mark
According to public records, Bill Gates is currently closest to becoming a trillionaire. He only needs $915 billion to get the title of being the first to have a net worth with 12 zeros. He just might become a trillionaire by 2040 if he keeps accumulating wealth. Sam Altman, a tech entrepreneur and president of highly successful Silicon Valley company, Y Combinator, says it is inevitable for the world to have trillionaires in it.
Mark Cuban made his first billion when yahoo bought his internet company for $5.7 billion. He emphasized the value of learning computer science: “If you are not getting up to speed on deep learning, neural networks, etc., you lose.” He also underscored the importance of critical thinking and problem-solving.
The outspoken entrepreneur also gave his opinion on the lost jobs that would result from a booming AI industry. He stated that the government would have to step in. Social support services like AmeriCorps would also have to create more jobs.
The Secret of Success
No one is more qualified than Cuban to give some guidelines to material success. He did, after all, anticipate a booming industry in the 80s – computers. Instead of opening the shop of his boss one day, he picked up a check and got fired. Then he started his own company and the customer who had paid the check became his own client.
The NBA team owner revealed that he did not have a technological background. He was driven to teach himself everything he needed from business software. The imperative was to fill customers’ requirements, to determine a solution if none was currently available.
So much is now being written about artificial intelligence. What the internet was in the mid-90s, AI is now looming as the modern counterpart. It makes sense that if one plans to get a share of its market, one has to read more about AI.