Beoz

Millenials are staying at home longer because they are forming a family less often and later in life and because a low interest rate environment meant housing prices skyrocketed.

That's got nothing to do with automation.

scrubbedexpat098

I wonder if AI machines will one day automate talking bollocks on the internet, I for one will be glad of the time it frees up for more important things like sheep worrying.

GarryP

Shouldn't that be "stevewelsh1"?

And there are already AI machines talking bollocks on the internet all day. They are russian bots and helped get Trump elected by spreading and upvoting lies, etc.

Shard

House prices haven't sky rocketed everywhere. And whether millennials form a family later or at all is immaterial. Most would prefer to have their own place (owned or rented) but that requires income, decent income, which requires jobs. But the indications are that those decent jobs are becoming scarcer.

It's not all to do with automation (I'm not a black and white thinker) but it's evidence that automation is having an impact.

Beoz

Prices have skyrocketted where where it matters, where people want to live.

If buying a house is the aim then then its difficult in the desirable locations. Not so in the less desirables. Buying a flat screen TV or a car is relatively easy thanks to automation. Salaries reflect their cost.

Paying people more isn't going to solve expensive housing problems. Only laws preventing those who benefited from massive price increases from the turn of the century, and primarily since the GFC thanks to low interest rates, who leveraged their new found wealth to gobble up more and more property need to spread the love. Governments do have a responsibility here because housing is like roads and hospitals, its a necessity and at the end of the day, its the tax payer who will end up paying for the luck of baby boomers.

Again, nothing related to automation.

uk_grenada

As an Avatar application i take great offense to this thread, and will personally hunt down and disable all associated routers...

Actually, there was a recent banking show in London where they showed off the latest ATM machines, complete with avatar characters talking to the customers on the screen and upselling advising and doing lots of other nasty things that you really don't want to get involved in when you're just there to get some beer vouchers.

Shard

Do you remember the name of any these ATM avatar companies? Curious...

Beoz

They have already invented Skype.

Shard

Funnily enough, I once used an ATM in Toronto, and when I did a human teller flickered up on the screen to help. That was 25 years ago, maybe more...the idea did not catch on! AI avatars are a different ball game though.

uk_grenada

Its just the evolution of the species, they had other stuff - voice recognition, facial verification of the users, more complex transactions - its the beginning of the end for bank tellers - make the machine do everything they can.

Diebold Nixdorf is one.

Shard

Quite.

Thanks.

Beoz

ATM's are dead. We have cards and phone tap. RIP the ATM.

verystormy

I will put my tupeth in for what it is worth.


I don't think AI and robotic innovation is going to be anywhere near as big as some think and the reason is simple. Cost.


As some of you know, I work in mining and resources. A few years ago, the industry was all a rage about how mines were about to become automated. We had Rio Tinto introduce driverless trucks and everyone assumed all the other big miners would follow suit and the job of driving haul trucks was dead. But, now some years later, it seems it isn't. Why?


Well, all the miners watched with a lot of interest, but what they saw was not what anyone was expecting. You see, the point of driverless trucks was that they didn't need all those truck drivers and could save a huge amount of cash. But, what they have found is that they have actually needed to employ more people than ever and the trucks cost 3x more to service. So, the reason it hasn't spread through the industry is simple economics.

uk_grenada

Not really, remember atm is automatic teller, but we still have to occasionally visit a bank to prove we exist or do something unusual. The machines are looking towards replacing real tellers for that stuff.

One thing was priviledged phone transactions, an app for your device only installable after you are id'd at the bank and keyed to your individual device.

Shard

I'll go with that. They will be dead soon, once cash is phased out. Which it will be.

It'll be electronic banking kiosks, and then eventually, all virtual.