AUTOMATION

Back to the Future

Turns out Covid hasn’t just changed the way we work—it’s also thrown a wrench into the machinations of our future robot overlords. 

Reports still predict a long-term acceleration in automation, but data suggests a recent decline in demand for some of the jobs that’ll get us there. 

Spinning wheels 

Automation + the pandemic = “double disruption” for workers, according to a new report from the World Economic Forum (WEF). 

The 2025 forecast: 

• About 85 million jobs worldwide could be displaced due to automation... 
• ...But the labor shift could also create 97 million jobs that are “more adapted to the new division of labor between humans, machines, and algorithms.” 

One big “but”: Automation is still ultimately on the upswing—but in some ways, Covid may be holding it back. Think of it like hitting the gas and brake at the same time (please don’t try that at home). 

For the first time since 2016, Cognizant charted a decline in jobs related to AI, algorithms, and automation (~13%). 

• "The jobs of the future are collateral damage of the pandemic," Robert Brown, vice president of Cognizant's Center for the Future of Work, told Axios. "American companies are focused on keeping the lights on rather than investing in digital growth." 

Next big thing 

The WEF report also placed bets on future in-demand jobs—aka the eventual subject of “Why didn’t you go into ___?” questions from parents. 

It predicts a long-term uptick in sectors like big data, AI, engineering, and cloud computing. Other high-growth bets: e-commerce, encryption, and non-humanoid robots. 

Big picture: We’ll probably see many more at-odds predictions for the future of work, but regardless of what’s to come, one thing’s for sure: Adaptability will be key. 

• On average, 84% of business leaders surveyed by WEF plan to “rapidly digitalize” processes by 2025.
• They also estimate that ~40% of workers will require up to six months of reskilling.

DIGITAL ASSETS

PayPal Exchanges Haterade for Bitcoin

Once upon a time, in June 2019, PayPal’s founding and former CEO called bitcoin “a scam.” That same year, PayPal signed on to Facebook’s Libra Association, but then bailed from the project in October. 

Turns out PayPal had its own cryptocurrency plans in the works. On Wednesday, the company announced a new service for PayPal users to buy, sell, or hold cryptocurrencies. 

• What: bitcoin, ethereum, bitcoin cash, and litecoin 
• Where: directly within the PayPal digital wallet (with a Venmo expansion planned in H1 2021) 
• Who: rolling out to U.S. account holders in the next few weeks (international, H1 2021)

PayPal’s ginormous merchant market (26+ million) means that it will soon be much easier to buy goods with crypto. PayPal will settle transactions with fiat currencies, so stores needn’t worry about juggling volatile BTC-USD transfers. 

If bitcoin had its own POV: Brick by brick, institution by institution, the OG cryptocurrency is gaining adherents. Also, bitcoin’s price is up 23% in a month. 

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Each episode of Teamistry tells stories about teams who work together in new, unexpected ways. From a motley crew of divers, medics, and soldiers on a rescue mission in Thailand’s underwater caves to how Iceland became a beacon of Covid-19 containment, these eps will have your ears (and your business acumen) tingling.

Hosted by award-winning documentarian Gabriela Cowperwaite, Teamistry will offer you practical lessons for your business through captivating storytelling.

Listen to season two here.

AV

High-Stakes Beta Testing

Tesla is rolling out “Full Self-Driving” to a limited cohort of beta users. This is the software architecture rewrite that Elon Musk has been hinting at for some time. 

What’s new: More support for advanced driver assist on city streets. Increased stop sign and traffic light perception capabilities. Navigate on Autopilot, another beta feature, can guide Teslas from highway on-ramps to off-ramps.

N.B.

Tesla warns beta testers to proceed with caution: “It may do the wrong thing at the worst time, so you must always keep your hands on the wheel and pay extra attention to the road.”

• Since Teslas require constant oversight from drivers, they’re still not self-driving.
• Tesla has drawn flak for using untrained customers as beta testers on public roads. 

Officials from the National Highway Traffic Safety Administration say they’re keeping a watchful eye over the new release. Next Thursday, Tesla will hike the price of “FSD” to $10,000. 

+ While we’re here: Tesla recorded its fifth straight quarterly profit. The carmaker delivered 139,300 vehicles in Q3, putting it on track for 500,000 by year’s end. 

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BITS & BYTES

Stat: Between 17–26% of Apple’s services revenue in the last fiscal year came from Google. The search giant pays the device giant for Google’s default placement on iPhones and iPads. 

Quote: “The adoption of augmented reality is happening faster than we had previously anticipated, and we are working together as a team to execute on the many opportunities in front of us."—Snap CEO Evan Spiegel. 

Read: If you’ve ever balked at market recaps, the MB editorial team has a go-to guide for how to read stock indexes and securities. 

WHAT ELSE IS BREWING

• A big milestone: NASA’s Osiris-Rex spacecraft touched an asteroid with its robotic arm. 
• Aurora passed the 600-employee mark. The Amazon-backed, self-driving startup also announced new senior hires from GM, Cray, and Lyft. 
• Ericsson reported strong Q3 results, driven by 5G sales in China.  
• Regulators approved the Hong Kong portion of Ant Financial’s IPO, which could be the largest the world has ever seen.
• The U.S. is offering financing plans to Brazilian telcos who avoid buying 5G parts from Huawei. Kinda sounds like an inverse Belt-and-Road deal?

GOING PHISHING

Three of the following news stories are true, and one...we made up. Can you spot the odd one out?

• A new AR tool allows you to load yourself into your favorite TV show. 
• Retired NBA player Chris Bosh was appointed dean of the Drone Racing League’s STEM educational program. 
• The “Peloton of mental health” just raised over $1 million.
• The latest robo-dog accessory: an arm that attaches to its head. 

TECH THINGAMABOBS

For cyber(space) security: Kenneth Harris, a 28-year-old NASA engineer, has an A+ job description: protecting satellites from cyberattacks. Plus, he’s contributed to the James Webb Space Telescope (potentially the Hubble’s successor). Watch his VICE interview here. 

For back-and-forth: We’re coming up on the final episode of IBM’s Bloomberg TV debate show, in which Watson analyzes public submissions to form an opinion. Weigh in on the current topic—whether to worry about the national deficit—here. 

ICYMI

Catch up on the top Emerging Tech Brew stories from the past few editions: 

• Qualcomm and Intel’s big moves 
• State of AI 2020
• Emerging tech policy roadmap 

GOING PHISHING ANSWER

That AR tool doesn’t exist...yet. (But if it did, around half of Morning Brew’s staff would probably choose The Vampire Diaries.)