The biggest concern amongst business owners, workers, and students today is the impact Artificial Intelligence and Automation will have on their future. In today’s episode, we discuss how we can defend against AI and Automation and how the private and public sectors can work together to harness the technology and best protect the population.

"Difficulty lies not so much in developing new ideas; so much as in escaping from old ones." - John Maynard Keynes

[3:30] - The RBC Future of Skills in Canada Report.

[9:15] - Upto 1/3 of US workers could be displaced by automation.

[11:30] - Should we think about job displacement as a skills problem or a location problem?

[13:00] - What are the trends of individual jobs in Canada?

[16:30] - NYU Professor Scott Galloway’s advice on work and happiness

[19:10] - Does working from home make a meaningful impact on breaking down Patriarchy?

[21:00] - What would be the best city in the US to move to?

[24:00] - What is the definition of late specialization? (link to good summary of David Epstein’s book - Range)

[28:00] - RBC suggests future jobs with the least likelihood of displacement (pg 18).

[30:00] - What does it mean to be a Chef vs Cook?

[34:00] - Wayne Brady is Broc’s favourite Chef.

[37:00] - Singapore is way ahead of the world on retraining its population with its SkillsFuture program.

[42:00] - How does our diversity affect the future of jobs in Canada?

[43:30] - Canada’s underfunded re-skilling programs.

[45:00] - Does the gig economy suppress minorities?

[53:00] - As a young parent what career advice would you give your kids?


Other Mentions:

Joel Shackleton @JoelShackleton

This is incredible.

12:19 AM ∙ Sep 23, 2019

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📋 - How to pick a career that actually fits you - blog post by Tim Urban.

📚 - David Epstein - Range

📚 - Tilman Fertitta - Shut Up & Listen

📚 - Scott Galloway - The Algebra of Happiness

TLDL

1. Job displacement among non-educated service industry workers is a real problem in Canada and the US.

2. While automation will replace a lot of jobs, the increased output will create a new baseline for entry-level jobs and improve our standard of living overall. (links to the Kurzgesagt video - the rise of the machine - why automation is different this time)

3. As machines replace many of the task-based jobs of today, we will need large percentages of the population to be re-trained to fill new labor demands that didn’t exist even a few years ago.

DISCLAIMER

Joel Shackleton works for Gold Investment Management. All opinions expressed by Joel and Broc or any podcast guests are solely their own opinions and do not reflect the opinion of Gold Investment Management. This Podcast and Substack is for informational purposes only and should not be relied upon for investment decisions. Clients of Gold Investment Management may hold positions discussed in this podcast.