6 days ago
Boomer businessman's surprising advice to young Aussies about AI
A mining tycoon in his 70s has urged young Aussies to be prepared for artificial intelligence to launch their careers into a 'new universe'.
Deane Russell, who directs strategy with an NT iron ore company, was stopped by a street interviewer outside Sydney 's Intercontinental Hotel.
He told Street MBA on TikTok that a steady head and persistence would pay off for those looking to get into the world of business.
Mr Russell said AI would present immeasurable new opportunities for entrepreneurs.
'Importantly, young people, I'm telling you now, AI is the way you need to be thinking,' he said in a TikTok video shared this week.
Mr Russell said he used the first ever Mac computer, operating with a 128kilobytes, 3.5 inch floppy disk when it came out.
He used the Mac to create a spreadsheet that accurately predicted the outcome of a business event, having never used a computer before.
'Everybody said computers were going to change the world and everybody's going to lose their job. No it created a new universe,' he said.
'AI is going to create a new universe. You're at the very beginning of a wave of a new universe.'
Mr Russell said he has four grandchildren, the eldest of whom is three-years-old.
'They will live in a different universe by the time they're 50,' he said.
Aside from computing, Mr Russell said entrepreneurs needed to be ready to battle the 'egos' in business and remain true to their own missions.
Many agreed with the businessman's advice.
'Agree, I was there at the start of PCs and AI is bigger than boomer times, go make a new world millennials,' one wrote.
'Some great advice,' a second said.
'This man said it right, your own self-esteem is most important,' a third added.
Others shared fears about AI taking their jobs.
'AI [is] about to take 90 per cent of jobs, pick a job that computers can't do. Trades are the safest bet going forward for young kids,' one wrote.
'People are dramatically underestimating the impact of AI and robots. If you sit at a computer, your job is over very soon,' another said.
