Not only did a Chinese factory replace 90% of its human workforce, but after it did, production rose by 250% and defects dropped by 80%!
It’s a scary thought for many people, being replaced by a machine, and it’s becoming more of a reality every day.
McDonald’s is moving to automation, for both the cash register and the actual hamburger creation. Minimum wage laws, of course, are expediting this all throughout the U.S., where the return on investment is being slashed when compared to the burden of an employee who comes with both state and federal regulations, wage laws, and even the responsibility of their individual healthcare and retirement.
After testing the service over the summer, last November, Dominoes officially delivered its first pizzas by drones to customers in New Zealand.
Pew Research recently found that 65% of Americans now believe their job will inevitably be done by a robot.
The world is at a major inflection point with technology. You can focus on the changes and potential downside or you can accept this reality and adapt to it. If you’re one of those 65% of Americans who believe your job will be done by a robot, then use this time to replace your job with a new income source and skill.
Just as the horse and buggy had to go in order to pave the way for the automobile, many new industries will rise up with all this new technology.
Many will see the rise of the machines as a bad thing, or something we should fight. I have no interest in debating the inevitable. Instead, we choose to prepare to prosper in the new economy.
Our world is changing, and it’s happening fast.
Each of us need to choose our destiny and rely on ourselves – not the government, and not an employer. Financial independence is the only way you can buy your freedom.
Now more than ever, it is important to get your financial house in order, prepare for the worst when it comes to the current system, and start to live in the new economy. Think of ways you can use technology to your advantage, whether it’s starting your own business, using Peer Street to get a real return on your money, or buying property a thousand miles from your home with the click of a mouse.
Oftentimes with change, people get stuck with the negative effects, but consider the good in all things. Think of the driverless car: one day, we will have no traffic, we can sleep on a long drive, and I have to imagine our insurance rates will collapse, along with accidents.
Conquer change by proceeding to be successful, regardless of the economy around you.
Legal Notice: This work is based on SEC filings, current events, interviews, corporate press releases and what we’ve learned as financial journalists. It may contain errors and you shouldn’t make any investment decision based solely on what you read here. It’s your money and your responsibility. The information herein is not intended to be personal legal or investment advice and may not be appropriate or applicable for all readers. If personal advice is needed, the services of a qualified legal, investment or tax professional should be sought.