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Speaker 1: If you don't know him. Jamie Diamond is the boss

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Speaker 1: of JP Morgan and quite a smart guy, which obviously

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Speaker 1: you need to be to run a bank. Well, one

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Speaker 1: would assume you need to be quite smart to run

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Speaker 1: a bank. I've mentioned him a few times on the

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Speaker 1: show because he just says some reasonable and practical things

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Speaker 1: about some big issues. And he's spoken about AI. He reckons,

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Speaker 1: we need to slow it down, calm the farm a

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Speaker 1: little bit, and if we don't slow down, society, he

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Speaker 1: reckons could tear itself apart. And he's not talking about

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Speaker 1: in ten years, he's talking about soon. And he gives

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Speaker 1: an example in the US, there are two million truck

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Speaker 1: drivers who could soon be out of a job when

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Speaker 1: driverless trucks hit the road. That's two million men and

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Speaker 1: women going from a pay packet of up to one

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Speaker 1: hundred and fifty thousand American dollars a year, too unemployed,

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Speaker 1: the skills not transferable. His answer, slow it down, phase

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Speaker 1: the technology in rather than hit society all at once,

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Speaker 1: and then you'll probably have to get some government payouts

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Speaker 1: to compensate them. Otherwise, he says, you will get civil unrest,

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Speaker 1: you'll get chaos in the streets. In New Zealand, we

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Speaker 1: have ubers, we have taxis, right for a robo takeover,

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Speaker 1: same goes for public transport. Robots will probably drive buses

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Speaker 1: before long, which will certainly stop the violence unfortunately that

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Speaker 1: they face, especially in Auckland and the driver's seat from

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Speaker 1: nutty passengers, but it does leave them out of work

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Speaker 1: without a meaningful alternative or transferable skills. Driverless waymo taxis

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Speaker 1: in the US are taking off, and the serious crash

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Speaker 1: rate is about ninety percent better than we're humans, I know.

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Speaker 1: Go figure. The problem with phasing things in slowly though

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Speaker 1: pumping the brakes is that you miss out on the

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Speaker 1: productivity gains. And just because you pump the brakes, it

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Speaker 1: doesn't mean that your competitors will. It doesn't mean that

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Speaker 1: other countries will do the same. And nobody's going to

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Speaker 1: get in the way of progress, are they, Which leaves

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Speaker 1: us with the social problem that Jamie Dimond was getting

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Speaker 1: it in the first place. How do we make sure

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Speaker 1: the world doesn't go to hell in a handbasket when

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Speaker 1: the robots come for our jobs and our livelihoods. For

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Speaker 1: more from Heather Duplessy Allen Drive Listen Live to News Talks.

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Speaker 1: It'd be from four pm weekdays, or follow the podcast

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Speaker 1: on iHeartRadio