Meet George Jetson. His Boy Elroy. Daughter Judy. Jane his wife.
The Jetsons was a favorite cartoon of mine. Even though it was originally created in 1962-1963, I was able to connect to the characters and imagine what the future might hold. They didn’t get everything correct and that wasn’t the point of the show. However, technology which appeared in some form included: video phones, robotic assistance (Rosie), personal flying pods (drones), smartwatches with video (coming soon?), treadmills (ok, for dogs), and jetpacks (the ones over water for now).
Probably the cash Jane takes should be at least a credit card, or a bitcoin app. And Jane would be working.
We all know the pace of technological innovation has accelerated ushering new gadgets all the time. What will humans do once technology provides every function or service? Will we sit all day– let the Roomba clean, drones bring us food, and be caught up in the metaverse pretending to socialize with our personalized Avatar? Maybe.
I believe that at some point, we find a balance with the technology and have it do the heavy lifting. This can free up the human mind to focus on more complex tasks. In investments, this should marry Artificial Intelligence with Human Intelligence. The technology takes the parameters we set and shares various outcomes. Then we choose the best one based on our independent thought. At Aapryl, we have started the process of using machine learning to predict which products should outperform their peers over the next three years. Manager research teams will still be needed to use their judgments based on past experiences to make the right asset allocation. Knowing the portfolio manager or doing the proper due diligence on the provider will still be key.
I am still awaiting the flying car that folds into a briefcase. I would start carrying a briefcase again. Or better yet, a backpack!