Mark Cuban is a billionaire with his hands in a lot of pots, from the TV show “Shark Tank” (which he’s leaving) to purchasing the Dallas Mavericks (before selling his majority stake) and now running his company, Cost Plus Drugs, a drug distributor and manufacturer intending to lower drug prices for Americans.
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A man with a million ideas has one tool he’s putting a lot of faith in to not only help him run things, but which he feels will be the “future” of the economy: artificial intelligence (AI). Whether you love it or hate it, AI is here to say, Cuban believes, and here are some of the ways it could affect the average American.
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AI Could Create Specialty Jobs
Cuban recently told New York Magazine that “AI is the future of all things economic for any country and every country.”
What AI is already starting to do, but will do even better over time, Cuban said, is “continuous optimization of all things that happen in every and any business.”
It could potentially streamline expensive processes, software, training time and more. And for those who fear that it will take all our jobs, he said, even that will require people, which could actually create jobs.
“There’s going to have to be people who understand the differences between models, people who know how to prompt to get the right answer, people who know how to prevent hallucinations. It requires a significant skill set,” he told New York Magazine.
Moreover, it will lead to creativity that expands the ways AI is used, since “there’s no way any two AIs are going to give you the same output,” he said.
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It Could Make Americans More Competitive in Business
While he does feel there will be a learning curve where people need to become “smarter on how to use AI,” eventually, if you know how to use it, he said, “you can be as smart as the smartest scientist on everything that’s been published and made publicly available.”
This gives the average person a competitive advantage, whether that’s in starting a business, learning skills that make you more competitive as an employee, or generally democratizing learning and knowledge.
AI Can Empower People
Cuban even believes that AI can empower people in numerous aspects of their lives, such as their own healthcare. He explained a situation where he had to have a procedure known as a heart ablation.
“I’d ask ChatGPT questions, then I’d run them through Gemini to compare the answers, then I’d check on Perplexity just in case there’s something different, and then I talked to my doctor about it and tried to confirm or get their various opinions.”
By having access to all that information, he felt better informed on how to talk to his doctor about his care. This could make life easier for anyone going through challenging issues, from healthcare to financial concerns.
It Simplifies Technology
Cuban sees AI as essentially simplifying technology for people who might have felt it was out of reach. As technology changes so fast, AI can help people stay abreast of the changes and use it more effectively. ”Not everybody’s got time to keep up with [technology],” he said.
When he gives speeches at events, he always asks who is using ChatGPT and other AI, and he said, “Everybody’s using it, so that means everybody’s seeing value.”
For people who fear that AI is just going to make us less smart, Cuban isn’t worried. He likened fears of students cheating with AI, for example, to how people once feared calculators would ruin math skills.
People will still need to be able to “intelligently ask the AI questions and to have the intelligence to understand whether the output is accurate and relevant,” he said. That skill set will remain uniquely human.
In Cuban’s worldview, all the ways that AI can simplify, make information more accessible, and streamline workflows can work in the favor of the average American in life, business and more.
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This article originally appeared on GOBankingRates.com: Mark Cuban Says AI Is the ‘Future’ of Money — 4 Potential Impacts to Your Wallet
