Matt MacFarland (CNNMoney)

Matt MacFarland (CNNMoney) by The Financial Exchange

00:08:10

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Well thanks to Matt McFarland. From CNN money I know now that there were 26 million horses in the United States a hundred years ago today John. And today there's only nine point two million what I find interest in you go back a hundred years ago all the poor people out of course is the rich people like cars today the rich people have courses the poor people should go our interest thing. Our guest is Matt McFarland are you don't Matt. Very clear. We're glad to we wanna talk about robotics a lot of people are very fearful. Of their job being replaced by robots. In many instances those fears are well founded. Which careers are most likely to be replaced by robotics. Serb so one that or are really high risks are for example in general that the category at cashier whether you are. A tollbooth operator or. You know cashier at Iranian. He. Dude playing on board grocery store. Those are those are really high risk as well as Jardine. Sort of a driving. Because what you're referring to there would be. Robotic car straight driving around New England. A lot of us had difficulty envisioning that ever occurring. Right the it would be it would be a huge change and did expound really creepy. When you first hear about it right. But the truth is. Some of the smartest people in the world are working. We've got huge companies in the US and and the crowd. Spending his millions and millions of dollars to develop these. Bully economy vehicles and I just because they know how much money can be made if they make the technology for. So Matt how many people make a living. Driving in the United States they whether they're driving taxi whether they're driving for Hoover whether they're driving a truck. If it's in the millions Diana I can't it be an exact number. And and Barry I did speak to people he. He just did that pay about five million driving job would be lot. In inside in that ten year. The personally he had driving jobs going away lot of warehouse jobs going away cashier jobs going away. I'm trying to think what other had a fast food fast food I'm guessing. At what percentage of fast food jobs are gonna go by but by the wayside. So if you turn the Euro let it sit there at the meeting 80000. In that the earned by 28 point. That's not very many. Well right there is probably what a couple million people work in infested. And I don't I don't have that number up hand but I mean if you're one of the 80000. Sure you know like a lot. Let me get that big deterrent is. There are going to be on the job that survived a lot of new jobs create. But people are fearful if you're if you're 45 year old truck driver right. You're you're nervous you're you're lesson in this since hey I'm not gonna make it on 65 drive in the struck because I'm gonna be replaced by a robot. On the other side though right there are jobs that are low risk in terms of being replaced by a robot. Which which types of jobs Matt are going to be. Lower in risk aware of the demand picked up. Yet of job that really require human cut short. It unique human trait but being compassionate and and shelling out the C being able to be a leader. Ghost yacht should you really think just because that that's so hard for machines to deal. And those are things get even you know the don't want to get from an action so that that you are under. But this year and high school soccer coach. That that your barber or silent. You know those people that there's got to be up and it shouldn't be big impacts and the and it does collect social worker would just work. Being overly cute you know having that human element. Don't court. So Matt have we ever seen a transition like this before where so many jobs are lost in a short period of time. That we. Big transition. In the you know what what about entry you know most of their work arms. Yet the industrial revolution really changed and. But that didn't move it's quickly is that what we beat in the digital economy. Where computers not been yet. What this. Every two year. Though it is really an exponential change. We actually do with the potential for a lot of people really get the prize. To disrupt. Matt thank you very much for your time we appreciate it. Thanks for Matt McFarland CNN money five million driver jobs thousands of restaurant jobs thousands of cashier jobs gone is gone. I think he can be quicker than people were expecting. I think that transition period is going to be rough and I think it's gonna be quicker than people are expecting and I think it's going to be rougher than people expect as well on the the comparison I'll make is. We'll be globalization you know and and you know the talk about okay globalization global create new jobs he might lose this one but you'll create new ones. Over the last thirty years which is a long period of time than we've seen how that is impacted the American middle class I think this is gonna do something similar. I think it's you do more rapidly though would you say to the people that are posted this in the sand and don't eliminate those jobs I guess that truck driver drop the sacred. In a year year we we should no job is sacred and my job does not say daughter is not only there's a lot of people that are gonna say don't allow for robotics. I don't allow for a driver scars. I don't know Serena allow washing machines and like I. I've I'm putting it out there I X I I get sad and text messages come hope and trust and I I I completely understand it because the single best thing that all of us can do is realize that we are replaceable. Billy it's it's if it goes in your skills always improve your skills it's always be thinking. Always think of life as a game of chess adapt or die I mean he's got to think ahead you know you you have to be able to adapt and to me it's going to be easy and this is coming for all books and I think there are a lot of what people hopefully forget that like how many jobs in the legal profession. Were eliminated due to robot I have a buddy who's a lawyer yeah and it used to be that when you were going through discovery and in particular let's say it was a big corporate case knew that 50000 emails that he had to go through. Someone had to sit there and basically read through all of those emails today. There's software that does that regulate all all those paralegal job that you should read through emails in and document what was in the Newton gone. Its financial services and counting you look at what's happened you know in accounting and in neo mutual funds and things like that this is combing for. Not just lower class the middle class and upper middle class it is coming lot of white collar jobs Marie Warren lot of white collar jobs. May be more white collar jobs being lost to robotics then blue collar it is it is coming for everyone and in anyone who says all my jobs a thumb I'm you know I'm not replaceable. You wore the nurse. Might not. To be fully replaced but you might have a augment that job augmented so you don't need as many nurses now. Today in the restaurant business what you see is robot there working. Very rapidly on robotic arms good or for me 16 iceman said don't allow refrigerators. The threat very. All right when we come back love Wall Street watch and we'll talk to you about why October. Is the best month in which you can buy a house that's next from the financial exchange radio network. Making your Smartphone even smaller here Dell Motorola mobile lab by surging financial exchange shelf in iTunes or those who. 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