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Time of India
a day ago
- Business
- Time of India
Vinod Khosla's dire warning: AI could wipe out 80% of jobs and crush Fortune 500 giants by 2030
Vinod Khosla predicts AI's rapid advancement will automate 80% of economically valuable jobs within five years, potentially eliminating the need for work by 2040. He anticipates a faster demise of Fortune 500 companies in the 2030s due to AI-driven disruption. Khosla also foresees AI transforming healthcare and the widespread adoption of household robots, alongside advancements in clean energy sources. Tired of too many ads? Remove Ads A Wild Technological Shift Is Already Underway AI Could Handle Most Valuable Jobs By 2030 Tired of too many ads? Remove Ads Fortune 500 Companies Could Disappear Faster Than Ever Healthcare Will Be Transformed by AI Your Home Might Have a Robot Taking Care of Everything Soon A Bright Future for Clean, Cheap Energy FAQs Tech investor and billionaire entrepreneur Vinod Khosla has warned that artificial intelligence is advancing so quickly it could automate most jobs, and, by the 2030s, some of the Fortune 500 companies will be gone, according to a an interview on the 'Uncapped with Jack Altman' podcast, Khosla shared his predictions, saying AI will be able to perform 80% of any economically valuable job within just five more years, and by 2040, he predicts, people won't need to work at all to survive, as per a report by Fortune.A venture capitalist and early investor in companies like Square and Instacar described that the current technology cycle as 'crazy and frenetic,' and adding that, 'I've never seen a cycle like this…almost every job is being reinvented, every material thing is being reinvented differently with AI as a driver,' as quoted in the report. Khosla compared the scale of change to the 1960s, saying, 'We're going to see this large change in such a short time, it's almost hard to imagine how society adjusts,' as quoted by Fortune in its READ: Diddy verdict in — you won't believe his net worth or how he's paying those massive legal bills The Indian-American billionaire businessman anticipated that 'Within the next five years, any economically valuable job humans can do, AI will be able to do 80% of it…80% of all jobs can be done by an AI,' as quoted in the report. He even pointed out that by 2040, 'the need to work will go away. People will work on things because they want to, not because they need to pay their mortgage,' as quoted by predicted a rise in the demise of large incumbent companies, as he said, 'One of my predictions is the 2030s will see a faster rate of demise of Fortune 500 companies than we've ever seen…that transition won't happen from existing companies. Somebody new will reinvent this,' as quoted in the READ: Zuckerberg's $100 million lure: Why top Chinese and Indian AI minds are joining his Superintelligence Project During the interview, he also forecasted about the future of healthcare. He asked that, 'If all medical expertise is free…you have an unlimited number of primary care doctors, oncologists, gastroenterologists, mental health therapists…how would you redesign the health care system?", and then he argued that entrenched interests and regulatory barriers will slow, but not stop, AI-driven transformation , according to the Fortune investor even predicted about robotics, as he said that, 'almost everybody in the 2030s will have a humanoid robot at home…probably starting with something narrow like doing your cooking for you,' and pointed out that the main bottleneck is not hardware but intelligence, as per the READ: Kamala Harris is back, urges Americans to call their representatives and block Trump's Big, Beautiful Bill Khosla is 'very bullish about energy,' especially fusion and super-hot geothermal, which he believes could make power 'cheaper than natural gas,' as reported by according to Khosla. He believes AI will soon be able to perform the majority of economically valuable tasks that humans currently do, as per the Fortune predicted that he sees personal assistant robots starting with simple household tasks like cooking by the 2030s.
Time of India
21-04-2025
- Business
- Time of India
Donald Trump's economic approval tanks to record low as tariff fallout hits home, majority of Americans say he's failing the economy
US President Donald Trump's economic approval has plummeted to a record low of 43%, with 55% disapproval, signaling growing voter frustration. A recent CNBC poll highlights concerns over Trump's handling of inflation, with many fearing a recession. Business leaders express worry about the uncertainty created by Trump's tariff policies, predicting a potential economic slowdown. Tired of too many ads? Remove Ads Donald Trump's Economic Approval Hits Record Low Tired of too many ads? Remove Ads The Fallout of Trump's Tariff Policies FAQs Over the last few months, a lot of Americans have found themselves struggling with the effects of US president Donald Trump's economic agenda, particularly his hardline tariff actions. Trump's initial pledge of cheaper prices, tax breaks, and an economic boom earlier won people optimism in his election campaign. Now, however, with increasing inflation, market turbulence, and more uncertainty, his pledges seem to be failing and American's are loosing confidence in him, as per a a recently conducted, CNBC All-America Economic Survey , Trump's approval rating on his management of the economy has dropped to an all-time low, reaching only 43% approval and 55% disapproval, reported Fortune. For the first time during his presidency, his economic approval dipped into negative territory, indicating growing frustration among voters who had earlier backed his economic growth vision, as per the CNBC poll also revealed Trump's worst numbers come on his handling of inflation, with 57% of Americans saying they believe "we will soon be" or "are already in", a recession, as per Fortune.A partner with the Democratic polling firm Hart Associates, Jay Campbell told CNBC, 'Donald Trump was reelected specifically to improve the economy, and so far, people are not liking what they're seeing,' quoted other recent surveys show a similar data. In a Gallup poll, more than half of Americans expressed lack of trust in Trump to handle the economy, with 44% responding that they have "almost none" and 11% that they have only "a little" confidence, according to the report. Trump's general approval rating is also behind the normal first-quarter ratings for presidents at 45%, far beneath the historical mean of 60% for for all presidents elected from 1952 to 2020, in their initial quarter, as per the past few months, Trump has slapped tariffs on a vast array of goods, including ones from Canada, Mexico, China, and sectors such as aluminum and steel, according to the report. He's even threatened additional tariffs against the European Union, chips, autos, and pharmaceuticals, as per Fortune. But these actions haven't been uncertain, some tariffs have been suspended, while others keep changing. This unstable approach has created turmoil in markets and left everyone wondering what's uncertainty surrounding Trump's tariff policies has worried business leaders. A recent CEOs' survey showed that 62% are predicting a possible recession or economic slowdown in the next six months, reported and CEO of St. Claire HealthCare in Kentucky, Donald H. Lloyd II said, 'This uncertainty needs to stop. I support tariffs but believe they need to be applied strategically, not globally,' quoted the founder of Bridgewater Associates, Ray Dalio pointed out that, 'Right now, we are at a decision-making point and very close to a recession. I'm worried about something worse than a recession if this isn't handled well. We have something that's much more profound, we have a breaking down of the monetary order,' quoted create uncertainty, which can affect business plans, pricing, and growth his economic approval rating recently hit a record low of 43%, with 55% disapproving of his handling of the economy, reported Fortune.
