Mark Cuban Warns 'Automation of Automation' Will Disrupt Millions of Jobs – But Liberal Arts Majors May Thrive

Mark Cuban, the billionaire entrepreneur and outspoken investor, has never been shy about sharing his views on the future of technology and its impact on the workforce. In a recent interview, Cuban made a bold prediction: the next decade will bring a level of change that will dwarf the technological advancements of the past 30 years. However, Cuban also issued a stark warning about the "automation of automation" and its looming disruption to millions of jobs.

Automation of Automation: The Next Frontier

Cuban believes we are on the cusp of a new era driven by artificial intelligence (AI), machine learning, and neural networks. These technologies, he explains, are not just automating tasks but automating the very process of automation itself. "The people who were writing software, particularly at the lower end, unless you are doing these advanced things, they're gone," Cuban said. He noted that software is increasingly writing itself, and this shift is set to upend traditional notions of work.

"The nature of work is changing," Cuban stated, pointing out that the employment landscape is already evolving rapidly. Companies in the Fortune 500 are aware of these changes and are adapting. The broader implications for the workforce are concerning. As Cuban put it, "The whole nature of employment is going to change," with fewer jobs available in traditional sectors like manufacturing and coal mining and a growing need for new skills and perspectives.

The Disruption of Employment: A Looming Crisis

Cuban didn't mince words when discussing the potential fallout from these changes. He warned that millions of jobs could be disrupted as automation takes over. "What do you do when 1 million, 2 million, 3 million, 5 million people have their jobs disrupted?" he asked, highlighting the urgency of addressing this issue.

Cuban is skeptical that traditional education and job training will be enough to keep up with the pace of change. He suggested that the demand for certain skill sets might diminish, even as new opportunities arise in unexpected areas. "There aren't manufacturing jobs coming back. There aren't more coal mining jobs coming back," he emphasized, noting that the nature of work is fundamentally shifting.

Liberal Arts Majors: The Unexpected Winners

In a surprising twist, Cuban suggested that liberal arts majors may actually have an advantage in the coming years. As data-driven processes become increasingly automated, he believes that the ability to think critically and interpret complex information will be more valuable than ever. "I personally think there's going to be a greater demand in 10 years for liberal arts majors than there were for programming majors and maybe even engineering," Cuban predicted.

He explained that as automation handles more of the technical tasks, the need for individuals who can bring a different perspective to data interpretation will grow. "When the data is all being spit out for you, you need a different perspective in order to have a different view of the data," Cuban said, adding that English, philosophy, and foreign language majors could be particularly well-suited to this new landscape.

The Bottom Line: Adapting to Change

Mark Cuban's predictions about the future of work are both a warning and a call to action. His comments come at a time when the global job market is already feeling the effects of AI advancements. Recent reports indicate that companies like OpenAI and Google DeepMind are making strides in AI that could eliminate millions of jobs. Meanwhile, governments worldwide are grappling with how to retrain workers whose jobs may soon be obsolete. This is particularly pressing in the United States, where the Bureau of Labor Statistics has projected a decline in several traditionally stable job sectors over the next decade.

As policymakers and business leaders scramble to prepare for this new wave of automation, Cuban’s emphasis on adaptability and the unexpected resurgence of liberal arts skills could serve as a guidepost for navigating the future of work.

 

On the date of publication, Caleb Naysmith did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.