Here are two reasons that you must take notice of the pace of technological change.
The change that is on us, is happening at an exponentially fast rate .... and humans generally are poor at forecasting the impact of exponential change.
Part of the technological change is Articial Intelligence evolution. AI will change the world beyond recognition.
"The reason this post took three weeks to finish is that as I dug into research on Artificial Intelligence, I could not believe what I was reading. It hit me pretty quickly that what’s happening in the world of AI is not just an important topic, but by far THE most important topic for our future."
If technological change can have such massive impact on mankind, it can have a massive impact on your investments.
Technological change is huge and growing at an exponential rate. The convergence of artifical intelligence, massive cheap processing power, high-speed cheap communication, cheap distributed sensors is changing our personal lives and businesses as we know them today. Technological disruption is allowing young up-start companies to successfully challenge large profitable long-established blue-chip companies. Robots are taking over jobs in factories at an increasing rate - and artificial intelligence systems are increasing going replace white collar and professional jobs.
During the industrial revolution, the pace of change was sufficently slow to enable displaced workers to find work elsewhere, but this technological revolution is likely to happen so fast that verty large pools of unemployed seem likely.
To quote from http://time.com/4569585/ai-robots-fears/:
“Robots will have taken over most jobs within 30 years leaving humanity facing its ‘biggest challenge ever’ to find meaning in life when work is no longer necessary, according to experts.
Professor Moshe Vardi, of Rice University, in the US, claims that many middle-class professionals will be outsources to machines within the next few decades leaving workers with more leisure time than they have ever experienced.
Speaking at the annual meeting of the American Association for the Advancement of Science annual meeting in Washington, Prof Moshe said the rise of robots could lead to unemployment rates greater than 50 per cent. “We are approaching a time when machines will be able to outperform humans at almost any task,” said Vardi, a professor in computational engineering.”