Bridgewater Associates founder Ray Dalio said Friday that almost half of the jobs in the next two decades will be replaced by artificial intelligence.
“By in large, the world is going to largely consist of people who can take language and put it into code, which then allows the computer to operate like a brain or people who are going to be displaced by that,” Dalio told FOX Business’ Maria Bartiromo of “Mornings with Maria.”
The investor said the computer’s capacity to process more information than the human brain is the reason artificial intelligence (AI) is being implemented in financial services.
“Those algorithms and that process allows people to get the best thinking not just the thinking that happens to be in people’s minds and it makes for an id meritocracy,” he said. “Something like 40 percent of all jobs are going to be replaced over the next twenty years by these algorithms in various forms.”
Dalio, founder of the world's largest hedge fund, said coding, as an educational area and subsequent career path, will help bridge the gap of widespread jobs loss.
“Everybody [has] to learn to code. It’s like not knowing how to read and write in the new age,” he said.
The “Principles: Life and Work” author finds the idea of riding the principles and converting them into codes as an invaluable asset that can create jobs and elevate the world in a greater way.
“Education and coding is very fundamental and I think its empowering. It can give many more people jobs. It can make that coding so much better,” Dalio said.