Artificial intelligence. Robo advisors. Trustless ledgers. Sounds like a world where humans aren’t responsible for doing much. Is this future world really coming?
In some form, yes. All of these technologies are rapidly emerging, and the three mentioned are converging in the investment space at a rapid clip. Investment decisions are being made by computers, purchases and sales of assets are determined by algorithms, and the trades are being recorded on distributed ledger technologies such as the blockchain.
While many people embrace this coming wave of tech, others view this new hyper-tech world as something to keep a wary eye on. Technology is good, yes. But it has its limits.
In his book, “The Revenge of Analog: Real Things and Why They Matter,” David Sax takes a long look at a counter culture that is emerging in an increasingly high tech world. About Millennials in particular he says that though they like their technology , “They are turning to analog to define their individual sense of identity.”
There is a great deal being written about how AI and technology are going to take over the world. Self-driving cars. Augmented reality. The internet of things. Are all of these commentators missing the fact that as human beings, we have an innate desire to work, to create, and to interact with our world in ways that go beyond virtual reality? Is there really a backlash growing against all the hype?
David Sax thinks so. And in some ways, so do we. As the investing world moves toward digital everything, we like to help people stay in touch with something tangible. Real, physical gold and silver are certainly wise to hold for their investment properties. However, it’s also nice to know that if you want, you can actually hold them in your hands. Owning gold and silver coins and bars can assure you that in this high-tech digital investing world, there is still a bridge back to reality.