Billionaire entrepreneur Mark Cuban says college students and new graduates have an unprecedented advantage as artificial intelligence tools reshape the economy.
In a panel discussion at the All-In Summit, Cuban says he’s discouraging his children from pursuing a job at big firms, noting that they are intent on adopting AI.
But he says that college graduates can have a huge advantage at small or medium-sized firms if they can actually set up tools, connect systems, or automate workflows using AI.
“So I got two kids in college. And what I tell them is, if you were looking for a job at a big company, you’re not going to get it. Because the big companies can implement what they need to do with AI in the short term.
The small to middle-sized companies need all the help they can get from AI natives, right? Because walking in and understanding AI and being able to implement it for that company is a huge step forward for them. So I think that’s one way to where we will adjust.”
Cuban also says that younger workers are better positioned than any generation before them because of the technology they already carry.
“Number two, right, the tools you have as someone in college, there’s no better time to be in college or just graduating than right now, because you have more resources available to you in your phone than anybody in the history of everything, right? Because if you want to be an entrepreneur, if you want to do whatever it is, you have every expert that’s right there available to you.”
Cuban’s comments come as concerns about AI job displacement ramp up. Earlier this month, the New York Fed published a study that says artificial intelligence is reshaping hiring plans in ways that could squeeze job opportunities for recent college graduates.
Meanwhile, Rebecca Patterson, the former chief investment strategist at Bridgewater Associates, said corporate CFOs are preparing for layoffs as companies face pressure to adopt artificial intelligence without increasing budgets.
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