‘A tsunami effect’: ETF fund manager bets on the robot boom (via ETFEdgeCNBC)
"I have high confidence this is going to be very additive to our economies globally, and importantly, just generating new growth," he added.There's widespread concern AI will come at the expense of jobs. But Studebaker contends that risk is overblown.
"If you look at the companies and countries that have the highest utilization of automation — Guess what? They have the lowest unemployment rates," he noted. The International Federation of Robotics reported a milestone last year. It found a record number of robots were installed over the course of a year, which is a 22% increase from the pre-pandemic record set in 2018."If you think about the number of data scientists and people that are trained in AI globally, it's a de minimis figure," Studebaker said. "[The AI surge is] going to take a long time for this to happen.
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