The one thing that I think is missing in regard to the financial cycle is the potential for massive economic disruption as AI, drones, and robotics are applied to more and more fields.
Self-driving Uber cars replace Uber drivers and cab drivers. Self-driving trucks eliminate millions of trucking and delivery vehicle jobs. AI and drones and IoT sensors, as mentioned in the article, replace millions of workers in “dangerous” inspection and maintenance jobs.
Do a search, and you’ll see dozens of companies who’re building robots to do automated burger-flipping, or cleaning, or harvesting crops, or even health care chores.
I’m not a Luddite, but I do think we need to give a lot of thought and consideration to where society is going and how we prevent all of these new technologies from enriching the very few at the top of our society.